United States GDP Growth Rate  1947-2016 | Data | Chart | Calendar

The US economy advanced an annualized 3.2 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 2.9 percent expansion in the advance estimate. It is the highest growth rate in two years, as consumer spending, exports and investment in structures rose faster than anticipated while fixed investment fell more, according to the second estimate released by the Bureau of Economic Analysis. 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 -10.00 percent in the first quarter of 1958.

United States GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-29 12:30 PM Q2 1.4% 0.8% 1.3% 1.2%
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 1.4% 3.2%
2017-01-30 01:30 PM Q4 2.58%
2017-02-27 01:30 PM Q4 2.58%




US GDP Growth Revised Up to 3.2% in Q3


The US economy advanced an annualized 3.2 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 2.9 percent expansion in the advance estimate. It is the highest growth rate in two years, as consumer spending, exports and investment in structures rose faster than anticipated while fixed investment fell more, according to the second estimate released by the Bureau of Economic Analysis.

Personal consumption expenditure (PCE) contributed 1.89 percentage points to growth (1.47 percent in the advance estimate) and rose 2.8 percent (2.1 percent in the advance estimate). Spending on both durable goods (11.6 percent compared to 9.5 percent in the advance period) and services (2.5 percent compared to 2.1 percent in the advance estimate) increased faster than anticipated and spending on nondurable goods fell less (-0.6 percent compared to -1.4 percent in the advance estimate). 

Fixed investment subtracted 0.15 percentage points from the growth (-0.09 percent in the advance estimate) and shrank 0.9 percent (-0.6 percent in the advance estimate). Investment in equipment fell for the fourth straight quarter at a faster 4.8 percent (-2.7 percent in the advance estimate) and investment for intellectual property products increased at a slower 1 percent (4 percent in the advance estimate). In contrast, residential declined less than anticipated 4.4 percent (-6.2 percent in the advance estimate) and investment in structures grew faster (10.1 percent compared to 5.4 percent in the advance estimate).

Private inventories added 0.49 percentage points to growth (0.61 percentage points in the advance estimate), the first positive contribution since the first quarter of 2015. Businesses accumulated $7.6 billion worth of inventory, lower than $12.6 billion in the advance estimate. 

Meanwhile, exports increased 10.1 percent (10 percent in the advance estimate), the biggest gain since the last quarter of 2013. Imports rose at a slightly slower 2.1 percent (2.3 percent in the advance estimate), bringing the impact from trade up to 0.87 percent (0.83 percent in the advance estimate).

Government spending and investment added 0.05 percentage points to growth (0.09 percent in the advance estimate) and rose at a slower 0.2 percent (0.5 percent in the advance estimate).

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
11/29/2016 2:01:28 PM



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.20 1.40 16.90 -10.00 percent [+]
GDP Annual Growth Rate 1.60 1.30 13.40 -4.10 percent [+]
GDP 17947.00 17348.08 17947.00 543.30 USD Billion [+]
GDP Constant Prices 16712.50 16583.10 16712.50 2084.60 USD Billion [+]
Gross National Product 16757.60 16668.30 16757.60 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2772.40 2778.80 2794.50 1215.60 USD Billion [+]
GDP per capita 51486.00 50662.40 51486.00 17036.90 USD [+]
GDP per capita PPP 52549.01 51708.40 52549.01 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
3.20 1.40 16.90 -10.00 1947 - 2016 percent Quarterly



Last
Nigeria 8.99 Sep/16
Bangladesh 7.05 Dec/16
Venezuela 6.80 Dec/13
Vietnam 6.40 Sep/16
Angola 4.90 Dec/15
Egypt 4.90 Mar/16
Iceland 4.70 Sep/16
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Algeria 4.00 Dec/14
Macedonia 3.90 Mar/14
United Arab Emirates 3.90 Dec/15
Indonesia 3.20 Sep/16
United States 3.20 Sep/16
Sri Lanka 2.60 Jun/16
Qatar 2.50 Jun/16
Peru 2.00 Sep/16
China 1.80 Sep/16
Kenya 1.80 Jun/16
Costa Rica 1.75 Mar/16
Jamaica 1.60 Jun/16
Luxembourg 1.60 Jun/16
El Salvador 1.55 Dec/15
Malaysia 1.50 Sep/16
Tanzania 1.50 Sep/10
India 1.40 Jun/16
Mongolia 1.40 Jun/16
Saudi Arabia 1.40 Jun/16
Uganda 1.40 Jun/16
Kazakhstan 1.26 Dec/13
Bahrain 1.20 Jun/16
Philippines 1.20 Sep/16
Mexico 1.00 Sep/16
Slovenia 1.00 Sep/16
Taiwan 0.96 Sep/16
Albania 0.90 Jun/16
Canada 0.90 Sep/16
New Zealand 0.90 Jun/16
Greece 0.80 Sep/16
Israel 0.80 Sep/16
Portugal 0.80 Sep/16
Bulgaria 0.70 Sep/16
Cyprus 0.70 Sep/16
Netherlands 0.70 Sep/16
Slovakia 0.70 Sep/16
Spain 0.70 Sep/16
Chile 0.60 Sep/16
Ecuador 0.60 Jun/16
Ghana 0.60 Jun/16
Hong Kong 0.60 Sep/16
Ireland 0.60 Jun/16
Moldova 0.60 Jun/16
Romania 0.60 Sep/16
South Korea 0.60 Sep/16
Thailand 0.60 Sep/16
Bosnia and Herzegovina 0.50 Jun/16
Croatia 0.50 Jun/16
Paraguay 0.50 Sep/16
Sweden 0.50 Sep/16
United Kingdom 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
Ukraine 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
Turkey 0.30 Jun/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
Lithuania 0.10 Sep/16
Belize 0.05 Jun/16
Serbia 0.00 Jun/16
Switzerland 0.00 Sep/16
Uruguay 0.00 Jun/16
Australia -0.50 Sep/16
Mauritius -0.50 Jun/16
Norway -0.50 Sep/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Brazil -0.80 Sep/16
Botswana -1.30 Jun/16
Rwanda -1.40 Jun/16
Dominican Republic -1.67 Mar/16
Singapore -2.00 Sep/16
Argentina -2.10 Jun/16
Senegal -2.50 Jun/16
Trinidad And Tobago -3.90 Mar/16
Namibia -6.20 Jun/16