United States GDP Growth Rate 1947-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United States contracted at a seasonally adjusted annual rate of 0.7 percent in the first quarter of 2015 over the previous quarter, according to the second estimate. GDP Growth Rate in the United States averaged 3.27 Percent from 1947 until 2014, reaching an all time high of 16.90 Percent in the first quarter of 1950 and a record low of -10 Percent in the first quarter of 1958. GDP Growth Rate in the United States is reported by the U.S. Bureau of Economic Analysis.

      Forecast
United States GDP Growth Rate
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
-0.70 2.20 16.90 -10.00 1947 - 2015 percent Quarterly
The United States has one of the most diversified and most technologically advanced economies in the world. Finance, insurance, real estate, rental, leasing, health care, social assistance, professional, business and educational services account for more than 40 percent of GDP. Retail and wholesale trade creates another 12 percent of the wealth. The government related services fuel 13 percent of GDP. Utilities, transportation and warehousing and information account for 10 percent of the GDP. Manufacturing, mining, and construction constitute 17 percent of the output. Agriculture accounts for only 1.5 percent of the GDP, yet due to use of advance technologies, the United States is a net exporter of food. This page provides - United States Economy Expands 3.2% in Q4 - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United States GDP Growth Rate - was last refreshed on Friday, May 29, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-03-27 12:30 PM Q4 2.2% 5.0% 2.2% 2.4%
2015-04-29 01:30 PM Q1 0.2% 2.2% 1.0% 1.27%
2015-05-29 01:30 PM Q1 -0.7% 2.2% 0.2% 0.2%
2015-06-24 01:30 PM Q1 2.2% -0.7% -0.7%
2015-07-30 01:30 PM Q2 3.07%
2015-08-27 01:30 PM Q2


US GDP Shrinks in Q1


The United States economy contracted at an annual rate of 0.7 percent in the first quarter of 2015, down from a preliminary 0.2 percent growth, figures from the second official estimate showed. It is the first contraction in a year as the trade deficit widened and inventories accumulated less than expected.

In the advance estimate, real GDP increased 0.2 percent. With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated.

The downturn primarily reflected a deceleration in PCE and downturns in exports, in nonresidential fixed investment, and in state and local government spending that were partly offset by a deceleration in imports and upturns in federal government spending and in private inventory investment.

The price index for gross domestic purchases, which measures prices paid by U.S. residents, decreased 1.6 percent in the first quarter, a downward revision of 0.1 percentage point from the advance estimate; this index decreased 0.1 percent in the fourth quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 0.2 percent, compared with an increase of 0.7 percent.

Real personal consumption expenditures increased 1.8 percent in the first quarter, compared with an increase of 4.4 percent in the fourth. Durable goods increased 1.1 percent, compared with an increase of 6.2 percent. Nondurable goods increased 0.1 percent, compared with an increase of 4.1 percent. Services increased 2.5 percent, compared with an increase of 4.3 percent. 

Real nonresidential fixed investment decreased 2.8 percent in the first quarter, in contrast to an increase of 4.7 percent in the fourth. Investment in nonresidential structures decreased 20.8 percent, in contrast to an increase of 5.9 percent. Investment in equipment increased 2.7 percent, compared with an increase of 0.6 percent. Investment in intellectual property products increased 3.6 percent, compared with an increase of 10.3 percent. Real residential fixed investment increased 5.0 percent, compared with an increase of 3.8 percent.

Real exports of goods and services decreased 7.6 percent in the first quarter, in contrast to an increase of 4.5 percent in the fourth. Real imports of goods and services increased 5.6 percent, compared with an increase of 10.4 percent.

Real federal government consumption expenditures and gross investment increased 0.1 percent in the first quarter, in contrast to a decrease of 7.3 percent in the fourth. National defense decreased 1.0 percent, compared with a decrease of 12.2 percent. Nondefense increased 2.0 percent, compared with an increase of 1.5 percent. Real state and local government consumption expenditures and gross investment decreased 1.8 percent, in contrast to an increase of 1.6 percent.

The change in real private inventories added 0.33 percentage point to the first-quarter change in real GDP after subtracting 0.10 percentage point from the fourth-quarter change. Private businesses increased inventories $95.0 billion in the first quarter, following increases of $80.0 billion in the fourth quarter and $82.2 billion in the third.

US Bureau of Economic Analysis | Joana Taborda | joana.taborda@tradingeconomics.com
5/29/2015 1:48:03 PM


Recent Releases

US Economy Expands Only 0.2% in Q1
The United States economy grew at an annual rate of 0.2 percent in the first quarter of 2015, according to the "advance" estimate. It was the weakest expansion since the first quarter of 2014 as business investment and exports slumped and consumption grew at a slower pace. Published on 2015-04-29

US Economy Expands 2.2% in Q4
The United States economy advanced an annualized 2.2 percent in the fourth quarter of 2014, unrevised from last month's estimate. While increases in exports and in personal consumption expenditures were larger than previously estimated, the change in private inventories was smaller. Published on 2015-03-27


United States GDP Last Previous Highest Lowest Unit
GDP 16768.10 16163.20 16768.10 543.30 USD Billion [+]
GDP Growth Rate -0.70 2.20 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.70 2.40 13.40 -4.10 percent [+]
GDP Constant Prices 16264.10 16294.70 16294.70 2084.60 USD Billion [+]
Gross National Product 16454.70 16399.30 16454.70 2098.40 USD Billion [+]
GDP per capita 45863.02 45341.73 45863.02 15469.07 USD [+]
Gross Fixed Capital Formation 2664.20 2672.80 2700.70 1215.60 USD Billion [+]
GDP per capita PPP 51450.74 50865.93 51450.74 36464.32 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 Nov/14 0.40 4.50 -2.00 percent [+]
Brazil -0.20 Feb/15 0.30 4.50 -4.20 percent [+]
Canada -0.10 Feb/15 0.60 3.33 -1.80 percent [+]
China 1.30 Feb/15 1.50 2.50 1.30 percent [+]
Euro Area 0.40 Feb/15 0.30 1.30 -2.90 percent [+]
France 0.60 Feb/15 0.00 1.60 -1.70 percent [+]
Germany 0.30 Feb/15 0.70 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -0.18 Feb/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Feb/15 0.00 6.00 -3.50 percent [+]
Japan 0.60 Feb/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Feb/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.40 Feb/15 0.80 2.00 -2.20 percent [+]
Russia 0.00 Nov/14 0.00 4.10 -5.40 percent [+]
South Korea 0.80 Feb/15 0.30 6.80 -7.00 percent [+]
Spain 0.90 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland -0.20 Feb/15 0.50 1.90 -2.20 percent [+]
Turkey 0.70 Nov/14 0.50 6.69 -7.57 percent [+]
United Kingdom 0.30 Feb/15 0.60 5.00 -2.70 percent [+]
United States -0.70 Feb/15 2.20 16.90 -10.00 percent [+]