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

The Gross Domestic Product (GDP) in the United States expanded an annualized 2.30 percent in the second quarter of 2015 over the previous quarter. First quarter GDP, previously reported to have contracted at a 0.2 percent pace, was revised up to show it rising at a 0.6 percent rate. GDP Growth Rate in the United States averaged 3.26 percent from 1947 until 2015, 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
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Actual Previous Highest Lowest Dates Unit Frequency
2.30 -0.20 16.90 -10.00 1947 - 2015 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 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. Content for - United States GDP Growth Rate - was last refreshed on Friday, July 31, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-29 01:30 PM Q1 -0.7% 2.2% 0.2% 0.2%
2015-06-24 01:30 PM Q1 -0.2% 2.2% -0.2% -0.3%
2015-07-30 01:30 PM Q2 2.3% 0.6% (R) 2.6% 2.4%
2015-08-27 01:30 PM Q2 0.6% 2.3% 2.3%
2015-09-25 01:30 PM Q2 0.6%
2015-10-29 12:30 PM Q3


US Economy Expands 2.3% in Q2


US economy grew 2.3 percent in the second quarter of 2015 compared to 0.6 percent expansion reported in the previous three month period, according to the advanced estimate released by the Bureau of Economic Analysis. The growth was boosted by a pick-up in consumer spending while business spending on equipment declined.

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

Real personal consumption expenditures increased 2.9 percent in the second quarter, compared with an increase of 1.8 percent in the first. Durable goods increased 7.3 percent, compared with an increase of 2.0 percent. Nondurable goods increased 3.6 percent, compared with an increase of 0.7 percent. Services increased 2.1 percent, the same increase as in the first quarter.

Real nonresidential fixed investment decreased 0.6 percent in the second quarter, in contrast to an increase of 1.6 percent in the first.  Investment in nonresidential structures decreased 1.6 percent, compared with a decrease of 7.4 percent. Investment in equipment decreased 4.1 percent, in contrast to an increase of 2.3 percent. Investment in intellectual property products increased 5.5 percent, compared with an increase of 7.4 percent. Real residential fixed investment increased 6.6 percent, compared with an increase of 10.1 percent.

Real exports of goods and services increased 5.3 percent in the second quarter, in contrast to a decrease of 6.0 percent in the first. Real imports of goods and services increased 3.5 percent, compared with an increase of  7.1 percent.

Real federal government consumption expenditures and gross investment decreased 1.1 percent in the second quarter, in contrast to an increase of 1.1 percent in the first. National defense decreased 1.5 percent, in contrast to an increase of 1.0 percent. Nondefense decreased 0.5 percent, in contrast to an increase of 1.2 percent. Real state and local government consumption expenditures and gross investment increased 2.0 percent, in contrast to a decrease of 0.8 percent.

The change in real private inventories subtracted 0.08 percentage point from the second-quarter change in real GDP after adding 0.87 percentage point to the first-quarter change.  Private businesses increased inventories $110.0 billion in the second quarter, following increases of $112.8 billion in the first quarter and $78.2 billion in the fourth.

US Bureau of Economic Analysis | anna@tradingeconomics.com
7/30/2015 1:42:52 PM


Recent Releases

US GDP Contracts Less Than Expected in Q1
The United States economy shrank at an annual rate of 0.2 percent in the first quarter of 2015, instead of a 0.7 percent drop reported in the second estimate. The exports decreased less than previously estimated, and personal expenditures and imports rose more.
Published on 2015-06-24

US GDP Shrinks in Q1
The United States economy contracted at an annual rate of 0.7 percent in the first quarter of 2015, down from a preliminary 0.2 percent growth, figures from the second official estimate showed. It is the first contraction in a year as the trade deficit widened and inventories accumulated less than expected.
Published on 2015-05-29

US Economy Expands Only 0.2% in Q1
The United States economy grew at an annual rate of 0.2 percent in the first quarter of 2015, according to the "advance" estimate. It was the weakest expansion since the first quarter of 2014 as business investment and exports slumped and consumption grew at a slower pace.
Published on 2015-04-29

US Economy Expands 2.2% in Q4
The United States economy advanced an annualized 2.2 percent in the fourth quarter of 2014, unrevised from last month's estimate. While increases in exports and in personal consumption expenditures were larger than previously estimated, the change in private inventories was smaller.
Published on 2015-03-27


United States GDP Last Previous Highest Lowest Unit
GDP 17419.00 16768.10 17419.00 543.30 USD Billion [+]
GDP Growth Rate 2.30 -0.20 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.30 2.40 13.40 -4.10 percent [+]
GDP Constant Prices 16270.40 16177.30 16270.40 2084.60 USD Billion [+]
Gross National Product 16371.40 16377.70 16377.70 2098.40 USD Billion [+]
GDP per capita 46405.26 45660.73 46405.26 15791.86 USD [+]
Gross Fixed Capital Formation 2707.10 2701.40 2707.10 1215.60 USD Billion [+]
GDP per capita PPP 52117.76 51281.58 52117.76 36543.10 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -0.20 Mar/15 0.30 4.50 -4.20 percent [+]
Canada -0.10 Mar/15 0.60 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.40 percent [+]
Euro Area 0.40 Mar/15 0.40 1.30 -2.90 percent [+]
France 0.60 Mar/15 0.10 7.70 -5.00 percent [+]
Germany 0.30 Mar/15 0.70 2.10 -3.70 percent [+]
India 4.10 Mar/15 3.10 7.40 -3.40 percent [+]
Indonesia -0.18 Mar/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Mar/15 0.00 6.00 -3.50 percent [+]
Japan 1.00 Mar/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Mar/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.60 Mar/15 0.90 2.00 -2.20 percent [+]
Russia -1.29 Mar/15 -0.55 4.10 -5.40 percent [+]
South Korea 0.30 Jun/15 0.80 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.60 -1.60 percent [+]
Switzerland -0.20 Mar/15 0.50 1.90 -2.20 percent [+]
Turkey 1.30 Mar/15 0.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Jun/15 0.40 5.00 -2.70 percent [+]
United States 2.30 Jun/15 -0.20 16.90 -10.00 percent [+]