United States GDP Growth Rate  1947-2017 | Data | Chart | Calendar

The US economy advanced an annualized 3.5 percent on quarter in the three months to September of 2016, up from 1.4 percent growth in the previous period and better than a 3.2 percent expansion in the second estimate. It is the highest growth rate in two years as personal consumption, investment in structures and intellectual property products and government expenditure rose faster than anticipated and exports was boosted by boom in soybean shipments. GDP Growth Rate in the United States averaged 3.23 percent from 1947 until 2016, 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.

United States GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-10-28 12:30 PM Q3 2.9% 1.4% 2.5% 2.5%
2016-11-29 01:30 PM Q3 3.2% 1.4% 3% 2.9%
2016-12-22 01:30 PM Q3 3.5% 1.4% 3.3% 3.2%
2017-01-27 01:30 PM Q4 3.5% 2.6%
2017-02-28 01:30 PM Q4 3.5% 2.6%
2017-03-30 01:30 PM Q4 3.5% 2.6%




US GDP Growth Rate Revised Up To 3.5% In Q3


The US economy advanced an annualized 3.5 percent on quarter in the three months to September of 2016, up from 1.4 percent growth in the previous period and better than a 3.2 percent expansion in the second estimate. It is the highest growth rate in two years as personal consumption, investment in structures and intellectual property products and government expenditure rose faster than anticipated and exports were boosted by boom in soybean shipments.

Personal consumption expenditure (PCE) contributed 2.03 percentage points to growth (1.89 percent in the second estimate) and rose 3 percent (2.8 percent in the second estimate). Spending on durable goods jumped 11.6 percent (the same as in the second estimate); services rose faster (2.7 percent compared to 2.5 percent in the second estimate) and spending on nondurable goods fell less (-0.5 percent compared to -0.6 percent in the second estimate).
 
Fixed investment added 0.02 percentage points to growth (-0.15 percentage points in the second estimate) and edged up 0.1 percent, compared to a 0.9 percent contraction in the second estimate. Investment grew faster for infrastructures (12 percent compared to 10.1 percent in the second estimate) and intellectual property products (3.2 percent compared to 1 percent). In addition, investment in equipment fell for the fourth straight quarter although less than anticipated (-4.5 percent compared to -4.8 percent in the second estimate) and residential investment also decreased at a slower 4.1 percent (-4.4 percent in the second estimate).
 
Private inventories added 0.49 percentage points to growth (the same as in the second estimate), the first positive contribution since the first quarter of 2015. Businesses accumulated $7.1 billion worth of inventory.
 
Meanwhile, exports increased 10 percent (10.1 percent in the second estimate), the biggest gain since the last quarter of 2013. Imports rose 2.2 percent (2.1 percent in the second estimate), bringing the impact from trade slightly down to 0.85 percent (0.87 percent in the second estimate).
 
Government spending and investment added 0.14 percentage points to growth (0.05 percent in the second estimate) and rose at a faster 0.8 percent (0.2 percent in the second estimate).

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
12/22/2016 2:27:40 PM



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.50 1.40 16.90 -10.00 percent [+]
GDP Annual Growth Rate 1.70 1.30 13.40 -4.10 percent [+]
GDP 18036.65 17393.10 18036.65 543.30 USD Billion [+]
GDP Constant Prices 16727.00 16583.10 16727.00 2084.60 USD Billion [+]
Gross National Product 16897.40 16757.60 16897.40 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2779.30 2778.80 2794.50 1215.60 USD Billion [+]
GDP per capita 51638.10 50727.80 51638.10 17036.90 USD [+]
GDP per capita PPP 52704.20 51775.09 52704.20 36543.08 USD [+]
GDP From Agriculture 162.10 182.20 235.10 123.30 USD Billion [+]
GDP From Construction 779.00 761.20 779.00 528.70 USD Billion [+]
GDP From Manufacturing 2171.70 2159.00 2187.70 1679.40 USD Billion [+]
GDP From Mining 258.30 215.20 476.10 197.60 USD Billion [+]
GDP From Public Administration 2381.00 2356.50 2381.00 1705.00 USD Billion [+]
GDP From Services 12698.00 12556.10 12698.00 8469.60 USD Billion [+]
GDP From Transport 561.10 534.10 561.10 357.50 USD Billion [+]
GDP From Utilities 283.90 285.00 296.60 193.00 USD Billion [+]



United States GDP Growth Rate Notes

On the expenditure side, personal consumption expenditures accounts for 68 percent of total GDP out of which purchases of goods constitute 23 percent and services 45 percent. Private investment accounts for 16 percent of GDP and government consumption and investment for 18 percent. As the value of goods exported (13.5 percent) is lower than the value of goods imported (16.5 percent), net exports subtracts 3 percent from the total GDP value. This page provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.50 1.40 16.90 -10.00 1947 - 2016 percent Quarterly



Last
Singapore 9.10 Dec/16
Nigeria 8.99 Sep/16
Bangladesh 7.05 Dec/16
Venezuela 6.80 Dec/13
Vietnam 6.68 Dec/16
Namibia 6.00 Sep/16
Egypt 4.90 Mar/16
Rwanda 4.80 Sep/16
Iceland 4.70 Sep/16
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Sri Lanka 4.10 Sep/16
Algeria 4.00 Dec/14
Ireland 4.00 Sep/16
Macedonia 3.90 Mar/14
United Arab Emirates 3.90 Dec/15
Qatar 3.60 Sep/16
United States 3.50 Sep/16
Indonesia 3.20 Sep/16
Mauritius 3.10 Sep/16
Angola 3.00 Dec/16
Peru 2.00 Sep/16
China 1.80 Sep/16
India 1.80 Sep/16
Bahrain 1.70 Sep/16
Croatia 1.70 Sep/16
Malaysia 1.50 Sep/16
Tanzania 1.50 Sep/10
Mongolia 1.40 Jun/16
Kazakhstan 1.26 Dec/13
Philippines 1.20 Sep/16
Costa Rica 1.15 Sep/16
New Zealand 1.10 Sep/16
Uruguay 1.10 Sep/16
Mexico 1.00 Sep/16
Slovenia 1.00 Sep/16
Taiwan 0.96 Sep/16
Albania 0.90 Sep/16
Canada 0.90 Sep/16
Israel 0.90 Sep/16
Jamaica 0.90 Sep/16
Saudi Arabia 0.90 Sep/16
Greece 0.80 Sep/16
Netherlands 0.80 Sep/16
Portugal 0.80 Sep/16
Bulgaria 0.70 Sep/16
Cyprus 0.70 Sep/16
Slovakia 0.70 Sep/16
Spain 0.70 Sep/16
Bosnia and Herzegovina 0.60 Sep/16
Chile 0.60 Sep/16
Ghana 0.60 Jun/16
Hong Kong 0.60 Sep/16
Moldova 0.60 Jun/16
Romania 0.60 Sep/16
South Korea 0.60 Sep/16
Thailand 0.60 Sep/16
United Kingdom 0.60 Sep/16
Ecuador 0.50 Sep/16
Paraguay 0.50 Sep/16
Sweden 0.50 Sep/16
Ukraine 0.50 Sep/16
Austria 0.40 Sep/16
Denmark 0.40 Sep/16
European Union 0.40 Sep/16
Finland 0.40 Sep/16
Cameroon 0.30 Mar/16
Colombia 0.30 Sep/16
Euro Area 0.30 Sep/16
Hungary 0.30 Sep/16
Italy 0.30 Sep/16
Japan 0.30 Sep/16
Belgium 0.20 Sep/16
Czech Republic 0.20 Sep/16
Estonia 0.20 Sep/16
France 0.20 Sep/16
Germany 0.20 Sep/16
Latvia 0.20 Sep/16
Malta 0.20 Jun/16
Mozambique 0.20 Sep/16
Poland 0.20 Sep/16
South Africa 0.20 Sep/16
Tunisia 0.20 Sep/16
El Salvador 0.13 Sep/16
Kenya 0.10 Sep/16
Lithuania 0.10 Sep/16
Belize 0.04 Sep/16
Serbia 0.00 Jun/16
Switzerland 0.00 Sep/16
Luxembourg -0.10 Sep/16
Argentina -0.20 Sep/16
Uganda -0.20 Sep/16
Australia -0.50 Sep/16
Norway -0.50 Sep/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Botswana -0.80 Sep/16
Brazil -0.80 Sep/16
Senegal -1.70 Sep/16
Dominican Republic -2.18 Sep/16
Turkey -2.70 Sep/16
Trinidad And Tobago -2.80 Jun/16