United States GDP Growth Rate 1947-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United States expanded at a seasonally adjusted annual rate of 2.2 percent in the fourth quarter of 2014 over the previous quarter, down from an initial estimate of 2.6 percent. 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.

      Forecast    
United States GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
2.20 5.00 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 Friday, March 27, 2015.


US GDP Growth Revised Down to 2.2%


The United States economy advanced an annualized 2.2 percent in the fourth quarter of 2014, according to the second estimate released by the Bureau of Economic Analysis. The new figure comes below a 2.6 percent advance estimate, due to lower fixed investment and higher imports.

The deceleration in real GDP growth in the fourth quarter primarily reflected an upturn in imports, a downturn in federal government spending, and decelerations in nonresidential fixed investment and in exports that were partly offset by an acceleration in PCE, an upturn in private inventory investment, and an acceleration in state and local government spending.

The GDP growth reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, state and local government spending, private inventory investment, and residential fixed investment that were partly offset by a negative contribution from federal government
spending. Imports, which are a subtraction in the calculation of GDP, increased.

Real personal consumption expenditures increased 4.2 percent in the fourth quarter, compared with an increase of 3.2 percent in the third.  Durable goods increased 6.0 percent, compared with an increase of 9.2 percent.  Nondurable goods increased 3.8 percent, compared with an increase of 2.5 percent.  Services increased 4.1 percent, compared with an increase of 2.5 percent.

Real nonresidential fixed investment increased 4.8 percent in the fourth quarter, compared with an increase of 8.9 percent in the third.  Investment in nonresidential structures increased 5.0 percent, compared with an increase of 4.8 percent.  Investment in equipment increased 0.9 percent, compared with an increase of 11.0 percent.  Investment in intellectual property products increased 10.9 percent, compared with an increase of 8.8 percent.  Real residential fixed investment increased 3.4 percent, compared with an increase of 3.2 percent.

Real exports of goods and services increased 3.2 percent in the fourth quarter, compared with an increase of 4.5 percent in the third.  Real imports of goods and services increased 10.1 percent, in contrast to a decrease of 0.9 percent.

Real federal government consumption expenditures and gross investment decreased 7.5 percent in the fourth quarter, in contrast to an increase of 9.9 percent in the third.  National defense decreased 12.4 percent, in contrast to an increase of 16.0 percent.  Nondefense increased 1.4 percent, compared with an increase of 0.4 percent.  Real state and local government consumption expenditures and gross investment increased 2.0 percent, compared with an increase of 1.1 percent.

The change in real private inventories added 0.12 percentage point to the fourth-quarter change in real GDP after subtracting 0.03 percentage point from the third-quarter change.  Private businesses increased inventories $88.4 billion in the fourth quarter, following increases of $82.2 billion in the third quarter and $84.8 billion in the second.

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
2/27/2015 1:41:58 PM


Recent Releases

US GDP Growth Slows in Q4
The United States economy expanded at an annual rate of 2.6 percent in the fourth quarter of 2014, according to the "advance" estimate. Fastest pace of consumer spending since 2006 was not enough to offset weak business spending and a wider trade deficit. Published on 2015-01-30

US GDP Growth at 11-Year High
The United States economy advanced an annualized 5.0 percent in the third quarter of 2014, according to final figures from the Bureau of Economic Analysis, beating previous estimates and market expectations. It is the highest pace since the third quarter of 2003, reflecting an upturn in consumer spending and investment and a downturn in imports. Published on 2014-12-23


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-23 01:30 PM
GDP Growth Rate QoQ Final  Q3
5.0% 4.6% 4.3% 3.9%
2015-01-30 01:30 PM
GDP Growth Rate QoQ Adv  Q4
2.6% 5.0% 3.3% 3.59%
2015-02-27 01:30 PM
GDP Growth Rate QoQ 2 Est  Q4
2.2% 5.0% 2.1% 2.6%
2015-03-27 12:30 PM
GDP Growth Rate QoQ Final  Q4
5.0% 2.2% 2.4%
2015-04-29 01:30 PM
GDP Growth Rate QoQ Adv  Q1
2.27%
2015-05-29 01:30 PM
GDP Growth Rate QoQ - 2 Est.  Q1


United States GDP Last Previous Highest Lowest Unit
GDP 16800.00 16244.60 16800.00 520.53 USD Billion [+]
GDP Growth Rate 2.20 5.00 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.40 2.70 13.40 -4.10 percent [+]
GDP Constant Prices 625.76 16293.70 16293.70 625.76 USD Billion [+]
Gross National Product 16399.30 16189.80 16399.30 2096.40 USD Billion [+]
GDP per capita 45863.02 45341.73 45863.02 15469.07 USD [+]
Gross Fixed Capital Formation 2672.70 2643.30 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 Nov/14 0.40 4.50 -2.00 percent [+]
Brazil 0.10 Aug/14 -0.60 4.50 -4.20 percent [+]
Canada 0.60 Nov/14 0.80 3.33 -1.80 percent [+]
China 1.50 Nov/14 1.90 2.50 1.40 percent [+]
Euro Area 0.30 Nov/14 0.20 1.30 -2.80 percent [+]
France 0.10 Nov/14 0.30 1.60 -1.70 percent [+]
Germany 0.70 Nov/14 0.10 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -2.06 Nov/14 3.16 3.82 -3.57 percent [+]
Italy 0.00 Nov/14 -0.10 6.00 -3.50 percent [+]
Japan 0.40 Nov/14 -0.60 3.20 -4.00 percent [+]
Mexico 0.70 Nov/14 0.50 2.90 -6.60 percent [+]
Netherlands 0.80 Nov/14 0.30 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.30 Nov/14 0.80 6.80 -7.00 percent [+]
Spain 0.80 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland 0.60 Nov/14 0.70 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.50 Nov/14 0.70 5.00 -2.70 percent [+]
United States 2.20 Nov/14 5.00 16.90 -10.00 percent [+]