United States GDP Growth Rate 1947-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United States expanded by a seasonally adjusted annual rate of 4.6 percent in the second quarter of 2014 over the previous quarter, according to a third and final estimate from the Commerce Department. 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.

   
 
 

United States GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
4.60 -2.10 16.90 -10.00 1947 - 2014 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 Thursday, October 2, 2014.


US GDP Growth Revised Up to 4.6%


The United States economy advanced an annualized 4.6 percent in the second quarter of 2014, according to the final estimate released by the Bureau of Economic Analysis. It is the highest growth rate in 2-1/2 years, as business investment and exports grew more than expected.

This upturn in the percent change in real GDP primarily reflected upturns in exports and in private inventory investment, accelerations in nonresidential fixed investment and in PCE, and upturns in state and local government spending and in residential fixed investment that were partly offset by an acceleration in imports.

The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 2.0 percent in the second quarter, 0.1 percentage point more than in the second estimate; this index increased 1.4 percent in the first quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.7 percent, compared with an increase of 1.3 percent.

Real personal consumption expenditures increased 2.5 percent in the second quarter, compared with an increase of 1.2 percent in the first. Durable goods increased 14.1 percent, compared with an increase of 3.2 percent. Nondurable goods increased 2.2 percent; it was unchanged in the first quarter. Services increased 0.9 percent, compared with an increase of 1.3 percent.

Real nonresidential fixed investment increased 9.7 percent in the second quarter, compared with an increase of 1.6 percent in the first. Investment in nonresidential structures increased 12.6 percent, compared with an increase of 2.9 percent. Investment in equipment increased 11.2 percent, in contrast to a decrease of 1.0 percent. Investment in intellectual property products increased 5.5 percent, compared with an increase of 4.6 percent. Real residential fixed investment increased 8.8 percent, in contrast to a decrease of 5.3 percent.

Real exports of goods and services increased 11.1 percent in the second quarter, in contrast to a decrease of 9.2 percent in the first. Real imports of goods and services increased 11.3 percent, compared with an increase of 2.2 percent.

Real federal government consumption expenditures and gross investment decreased 0.9 percent in the second quarter, compared with a decrease of 0.1 percent in the first. National defense increased 0.9 percent, in contrast to a decrease of 4.0 percent. Nondefense decreased 3.8 percent, in contrast to an increase of 6.6 percent. Real state and local government consumption expenditures and gross investment increased 3.4 percent, in contrast to a decrease of 1.3 percent.

The change in real private inventories added 1.42 percentage points to the second-quarter change in real GDP after subtracting 1.16 percentage points from the first-quarter change. Private businesses increased inventories $84.8 billion in the second quarter, following increases of $35.2 billion in the first quarter and $81.8 billion in the fourth.

Real final sales of domestic product -- GDP less change in private inventories -- increased 3.2 percent in the second quarter, in contrast to a decrease of 1.0 percent in the first.

U.S. Commerce Department | Joana Taborda | joana.taborda@tradingeconomics.com
9/26/2014 1:45:20 PM


Recent Releases

US Economy Rebounds Stronger Than Expected
The United States economy advanced an annualized 4.2 percent in the second quarter of 2014, according to the second estimate released by the Bureau of Economic Analysis. The new figure comes better than an advance estimate of 4 percent, as business investment and exports contributed more to the growth. Published on 2014-08-28

US Economy Rebounds in Q2
The United States GDP advanced 4 percent in the second quarter of 2014, rebounding from a revised 2.1 percent contraction in the previous period. Upturns in private inventory investment and exports and an acceleration in personal consumption and investment contributed to better than expected results. Published on 2014-07-30


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-25 01:30 PM United States
GDP Growth Rate QoQ Final
Q1 2014 -2.9% 2.6% -1.0% -1.0%
2014-07-30 01:30 PM United States
GDP Growth Rate QoQ Adv
Q2 2014 4.0% -2.1% (R) 2.9% 3%
2014-08-28 01:30 PM United States
GDP Growth Rate QoQ - 2 Est
Q2 2014 4.2% -2.1% 3.9% 4.0%
2014-09-26 01:30 PM United States
GDP Growth Rate QoQ Final
Q2 2014 4.6% -2.1% 4.6% 4.2%
2014-10-30 01:30 PM United States
GDP Growth Rate QoQ Adv
Q3 2014 4.6% 2.5%


GDP Last Previous Highest Lowest Unit
GDP 16800.00 16244.60 16800.00 520.53 USD Billion [+]
GDP Growth Rate 4.60 -2.10 16.90 -10.00 Percent [+]
GDP Annual Growth Rate 2.60 1.90 13.40 -4.10 Percent [+]
GDP Constant Prices 16010.40 15831.70 16010.40 2082.50 USD Billion [+]
Gross National Product 16180.70 16009.80 16180.70 2096.40 USD Billion [+]
GDP per capita 45863.02 45341.73 45863.02 15469.07 USD [+]
Gross Fixed Capital Formation 2594.50 2536.10 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 Jun/14 1.10 4.50 -2.00 Percent [+]
Brazil -0.60 Jun/14 -0.20 4.50 -4.20 Percent [+]
Canada 0.80 Jun/14 0.20 3.33 -1.80 Percent [+]
China 2.00 Jun/14 1.50 2.50 1.40 Percent [+]
Euro Area 0.00 Jun/14 0.20 1.30 -2.80 Percent [+]
France 0.00 Jun/14 0.00 1.60 -1.70 Percent [+]
Germany -0.20 Jun/14 0.70 2.10 -3.70 Percent [+]
India 1.20 Jun/14 1.90 5.80 -1.90 Percent [+]
Indonesia 2.47 Jun/14 0.97 3.82 -3.57 Percent [+]
Italy -0.20 Jun/14 -0.10 6.00 -3.50 Percent [+]
Japan -1.80 Jun/14 1.50 3.20 -4.00 Percent [+]
Mexico 1.00 Jun/14 0.44 2.90 -6.60 Percent [+]
Netherlands 0.70 Jun/14 -0.30 2.00 -2.20 Percent [+]
Russia 0.25 Jun/14 0.07 4.10 -5.40 Percent [+]
South Korea 0.50 Jun/14 0.90 6.80 -7.00 Percent [+]
Spain 0.60 Jun/14 0.40 1.53 -1.60 Percent [+]
Switzerland 0.00 Jun/14 0.50 1.90 -2.20 Percent [+]
Turkey -0.50 Jun/14 1.80 6.69 -7.57 Percent [+]
United Kingdom 0.90 Jun/14 0.70 5.00 -2.70 Percent [+]
United States 4.60 Jun/14 -2.10 16.90 -10.00 Percent [+]





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