United States GDP Growth Rate
The Gross Domestic Product (GDP) in the United States expanded 2.50 percent in the first quarter of 2013 over the previous quarter. GDP Growth Rate in the United States is reported by the Bureau of Economic Analysis. Historically, from 1947 until 2013, the United States GDP Growth Rate averaged 3.23 Percent reaching an all time high of 17.20 Percent in March of 1950 and a record low of -10.40 Percent in March of 1958. 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 includes a chart with historical data for the United States GDP Growth Rate.
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United States Economy Expands 2.5% in Q1
Bureau of Economic Analysis | Nuno Fontes | nuno@tradingeconomics.com
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4/26/2013 1:37:07 PM
Real gross domestic product increased at an annual rate of 2.5 percent in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the 'advance' estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 0.4 percent.
The acceleration in real GDP in the first quarter primarily reflected an upturn in private inventory investment, an acceleration in personal consumption expenditures, an upturn in exports, and a smaller decrease in federal government spending that were partly offset by an upturn in imports and a deceleration in nonresidential fixed investment.
Motor vehicle output added 0.24 percentage point to the first-quarter change in real GDP after adding 0.18 percentage point to the fourth-quarter change. Final sales of computers subtracted 0.01 percentage point from the first-quarter change in real GDP after adding 0.10 percentage point to the fourth-quarter change.
The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.1 percent in the first quarter, compared with an increase of 1.6 percent in the fourth. Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent in the first quarter, compared with an increase of 1.2 percent in the fourth.
Real personal consumption expenditures increased 3.2 percent in the first quarter, compared with an increase of 1.8 percent in the fourth. Durable goods increased 8.1 percent, compared with an increase of 13.6 percent. Nondurable goods increased 1.0 percent, compared with an increase of 0.1 percent. Services increased 3.1 percent, compared with an increase of 0.6 percent.
Real exports of goods and services increased 2.9 percent in the first quarter, in contrast to a decrease of 2.8 percent in the fourth. Real imports of goods and services increased 5.4 percent, in contrast to a decrease of 4.2 percent.
Real federal government consumption expenditures and gross investment decreased 8.4 percent in the first quarter, compared with a decrease of 14.8 percent in the fourth. National defense decreased 11.5 percent, compared with a decrease of 22.1 percent. Nondefense decreased 2.0 percent, in contrast to an increase of 1.7 percent.
The change in real private inventories added 1.03 percentage points to the first-quarter change in real GDP after subtracting 1.52 percentage points from the fourth-quarter change. Private businesses increased inventories $50.3 billion in the first quarter, following increases of $13.3 billion in the fourth quarter and $60.3 billion in the third.
ARCHIVE
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U.S. GDP revised up to 0.4%
Real gross domestic product in the United States increased at an annual rate of 0.4 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
2013-03-28
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U.S. GDP Expands 2 Percent in Q3
U.S. Real gross domestic product increased at an annual rate of 2.0 percent in the third quarter of 2012 (that is, from the second quarter to the third quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.3 percent.
2012-10-26
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U.S. GDP Growth Revised Up to 0.1% in Q4
Real gross domestic product in the United States increased at an annual rate of 0.1 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
2013-02-28
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U.S. GDP Revised Down to 1.3 Percent in Q2
U.S. Real gross domestic product increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.
2012-09-27
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United States Gross Domestic Product Contracts 0.1% in Q4
Real gross domestic product decreased at a rate of 0.1 percent in the fourth quarter of 2012, from the third quarter to the fourth quarter, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
2013-01-30
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U.S. GDP Revised Up to 1.7% in Q2
U.S. Real gross domestic product increased at an annual rate of 1.7 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.
2012-08-29
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U.S. GDP Growth Revised to 3.1 Percent in Q3
U.S. Real gross domestic products increased at an annual rate of 3.1 percent in the third quarter of 2012 (that is, from the second quarter to the third quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.3 percent.
2012-12-20
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U.S. Economy Grows 1.5% in Q2
U.S. real gross domestic product increased at an annual rate of 1.5 percent in the second quarter of 2012, (that is, from the first quarter to the second quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.
2012-07-27
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U.S. GDP Growth Revised to 2.7 Percent in Q3
U.S. Real gross domestic product increased at an annual rate of 2.7 percent in the third quarter of 2012 (that is, from the second quarter to the third quarter), according to the "second" estimate released by the
Bureau of Economic Analysis.
2012-11-29
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.
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