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

The US economy advanced an annualized 1.9 percent on quarter in the three months to December of 2016, lower than a 3.5 percent expansion in the previous period and below market expectations of 2.2 percent, advance estimates showed. The deceleration in real GDP in the fourth quarter reflected a downturn in exports, an acceleration in imports, a deceleration in PCE, and a downturn in federal government spending that were partly offset by an upturn in residential fixed investment, an acceleration in private inventory investment, an upturn in state and local government spending, and an acceleration in nonresidential fixed investment. GDP Growth Rate in the United States averaged 3.22 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)
2016-11-29 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 1.9% 3.5% 2.2% 2.2%
2017-02-28 01:30 PM Q4 3.5% 2.1% 2.1%
2017-03-30 01:30 PM Q4 3.5% 2.2%
2017-04-28 12:30 PM Q1 2.5%




US GDP Growth Slows to 1.9% in Q4


The US economy advanced an annualized 1.9% on quarter in Q4, below expectations of 2.2%. Exports slumped reversing the impact from the surge in soybean shipments in Q3 and consumer spending slowed while investment jumped, boosted by equipment and home building. In 2016, the GDP expanded 1.6%, the lowest since 2011.

Personal consumption expenditure (PCE) contributed 1.7 percentage points to growth (2.03 percent in the previous quarter) and rose 2.5 percent (3 percent in the previous quarter). Spending slowed for durable goods (10.9 percent from 11.6 percent) and services (1.3 percent from 2.7 percent) but recovered for nondurable goods (2.3 percent from -0.5 percent).

Fixed investment added 0.67 percentage points to growth (0.02 percentage points in the previous quarter) and increased 4.2 percent, compared to a meager 0.1 percent expansion in the previous period. Investment in equipment rebounded (3.1 percent from -4.5 percent); residential one recovered (10.2 percent from -4.1 percent) and intellectual property products rose faster (6.4 percent from 3.2 percent) while investment in structures slumped 5 percent, following a 12 percent jump in the previous period.

Private inventories added 1 percentage points to growth, higher than 0.49 percentage points in the previous period and the biggest contribution since the first quarter of 2015.  Businesses accumulated $48.7 billion worth of inventory.

Meanwhile, exports shrank 4.3 percent, reversing from a 10 percent jump in the previous quarter and imports increased at a faster 8.3 percent (+2.2 percent), bringing the impact from trade to -1.7 percent (+0.85 percent in the previous quarter). It is the biggest drag since the second quarter of 2010. 

Government spending and investment added 0.21 percentage points to growth (0.14 percent in the previous period) and rose at a faster 1.2 percent (0.8 percent).

Considering full 2016, private investment slumped for the first time since 2009 (-1.5 percent), dragged down by structures (-3.1 percent) and equipment (-2.8 percent). Consumer spending slowed (2.7 percent from 3.2 percent) as well as public spending and investment (0.9 percent from 1.8 percent). In contrast, exports increased at a slightly faster 0.4 percent (0.1 percent) and imports slowed (1.1 percent from 4.6 percent). 

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
1/27/2017 2:19:17 PM



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.90 3.50 16.90 -10.00 percent [+]
GDP Annual Growth Rate 1.90 1.70 13.40 -4.10 percent [+]
GDP 18036.65 17393.10 18036.65 543.30 USD Billion [+]
GDP Constant Prices 16804.80 16727.00 16804.80 2084.60 USD Billion [+]
Gross National Product 16897.40 16757.60 16897.40 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2807.90 2779.30 2807.90 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 160.10 162.10 235.10 123.30 USD Billion [+]
GDP From Construction 784.90 779.00 784.90 528.70 USD Billion [+]
GDP From Manufacturing 2181.00 2171.70 2187.70 1679.40 USD Billion [+]
GDP From Mining 271.60 258.30 476.10 197.60 USD Billion [+]
GDP From Public Administration 2402.20 2381.00 2402.20 1705.00 USD Billion [+]
GDP From Services 12875.60 12698.00 12875.60 8469.60 USD Billion [+]
GDP From Transport 565.90 561.10 565.90 357.50 USD Billion [+]
GDP From Utilities 293.90 283.90 296.60 193.00 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.90 3.50 16.90 -10.00 1947 - 2016 percent Quarterly



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Albania 0.90 Sep/16
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Canada 0.90 Sep/16
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Latvia 0.80 Dec/16
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Mexico 0.70 Dec/16
Spain 0.70 Dec/16
United Kingdom 0.70 Dec/16
Chile 0.60 Sep/16
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Peru 0.60 Dec/16
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Austria 0.50 Dec/16
Cyprus 0.50 Dec/16
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Sweden 0.50 Sep/16
Taiwan 0.45 Dec/16
Belgium 0.40 Dec/16
Denmark 0.40 Dec/16
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France 0.40 Dec/16
Germany 0.40 Dec/16
Hungary 0.40 Dec/16
South Korea 0.40 Dec/16
Thailand 0.40 Dec/16
Cameroon 0.30 Mar/16
Czech Republic 0.20 Dec/16
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Italy 0.20 Dec/16
Japan 0.20 Dec/16
Malta 0.20 Jun/16
South Africa 0.20 Sep/16
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Kenya 0.10 Sep/16
Belize 0.04 Sep/16
Serbia 0.00 Jun/16
Switzerland 0.00 Sep/16
Luxembourg -0.10 Sep/16
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Greece -0.40 Dec/16
Australia -0.50 Sep/16
Finland -0.50 Dec/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Botswana -0.80 Sep/16
Brazil -0.80 Sep/16
Mozambique -1.70 Dec/16
Senegal -1.70 Sep/16
Indonesia -1.77 Dec/16
Dominican Republic -2.18 Sep/16
Turkey -2.70 Sep/16
Trinidad And Tobago -2.80 Jun/16