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

The US economy grew an annualized 0.7 percent on quarter in the first quarter of 2017, following a 2.1 percent expansion in the previous period and below expectations of 1.1 percent, an advance estimate showed. The deceleration in real GDP was mostly a result of weak consumption due to lower auto sales and home-heating bills which offset a pickup in investment in housing and oil drilling and rise in exports. GDP Growth Rate in the United States averaged 3.21 percent from 1947 until 2017, 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)
2017-02-28 01:30 PM Q4 1.9% 3.5% 2.1% 2.1%
2017-03-30 12:30 PM Q4 2.1% 3.5% 2% 2%
2017-04-28 12:30 PM Q1 0.7% 2.1% 1.1% 1.3%
2017-05-26 12:30 PM Q1 2.1% 0.9% 0.8%
2017-06-29 12:30 PM Q1 2.1% 1.3%
2017-07-28 12:30 PM Q2 2.1%




US Q1 GDP Growth Weakest Since 2014


The US economy grew an annualized 0.7 percent on quarter in the first quarter of 2017, following a 2.1 percent expansion in the previous period and below expectations of 1.1 percent, an advance estimate showed. The deceleration in real GDP in the first quarter reflected a deceleration in PCE and downturns in private inventory investment and in state and local government spending that were partly offset by an upturn in exports and accelerations in both nonresidential and residential fixed investment.

Personal consumption expenditure (PCE) contributed 0.23 percentage points to growth (2.40 percent in the previous quarter) and rose 0.3 percent (3.5 percent in the previous quarter). Spending fell for durable goods (-2.5 percent from 11.4 percent in Q4 2016) and slowed for both nondurable goods (1.5 percent from 3.3 percent) and services (0.4 percent from 2.4 percent).

Fixed investment added 0.69 percentage points to growth (1.47 percentage points in the previous quarter) and increased 4.3 percent, compared to a 9.4 percent expansion in the previous period. 

By contrast, private inventories subtracted 0.93 percentage points to growth, after contributing 1.01 percentage points in the previous period. 

Government spending and investment subtracted 0.30 percentage points to growth (0.03 percent in the previous period) and contracted 1.7 percent (0.2 percent in Q4).

Meanwhile, exports jumped 5.8 percent, reversing a 4.5 percent drop in the previous quarter and imports increased at a slower 4.1 percent (9 percent in Q4), bringing the impact from trade to 0.07 percent (-1.82 percent in the previous quarter). 


BEA | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/28/2017 12:49:23 PM



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 2.10 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.00 1.70 13.40 -4.10 percent [+]
GDP 18036.65 17393.10 18036.65 543.30 USD Billion [+]
GDP Constant Prices 16842.40 16813.30 16842.40 2084.60 USD Billion [+]
Gross National Product 17017.60 16897.40 17017.60 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2869.10 2798.90 2869.10 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 152.50 160.10 235.10 123.30 USD Billion [+]
GDP From Construction 798.10 784.90 798.10 528.70 USD Billion [+]
GDP From Manufacturing 2193.70 2181.00 2193.70 1679.40 USD Billion [+]
GDP From Mining 293.30 271.60 476.10 197.60 USD Billion [+]
GDP From Public Administration 2415.30 2402.20 2415.30 1705.00 USD Billion [+]
GDP From Services 13016.50 12875.60 13016.50 8469.60 USD Billion [+]
GDP From Transport 572.10 565.90 572.10 357.50 USD Billion [+]
GDP From Utilities 292.50 293.90 296.60 193.00 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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 2.10 16.90 -10.00 1947 - 2017 percent Quarterly



gdp growth rate by Country

Last
Turkey 3.80 Dec/16
India 1.60 Dec/16
China 1.30 Mar/17
Australia 1.10 Dec/16
South Korea 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
United States 0.70 Mar/17
Canada 0.60 Dec/16
Germany 0.60 Mar/17
Euro Area 0.50 Mar/17
Japan 0.50 Mar/17
Netherlands 0.40 Mar/17
France 0.30 Mar/17
United Kingdom 0.30 Mar/17
Italy 0.20 Mar/17
Switzerland 0.10 Dec/16
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15
Brazil -0.90 Dec/16