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

United States economy expanded an annualized 1.4 percent in the second quarter of 2016, more than 1.1 percent reported in the second estimate and much better than 0.8 percent reported in the first three months of 2016. With the third estimate, the general picture of economic growth remains the same. The most notable change from the second to third estimate is that nonresidential fixed investment increased in the second quarter; in the previous estimate, nonresidential fixed investment decreased. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment. These were partly offset by negative contributions from private inventory investment, residential fixed investment, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased. GDP Growth Rate in the United States averaged 3.22 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 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
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Actual Previous Highest Lowest Dates Unit Frequency
1.40 0.80 16.90 -10.00 1947 - 2016 percent Quarterly
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 October of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-29 12:30 PM Q2 1.2% 0.8% 2.6% 2%
2016-08-26 12:30 PM Q2 1.1% 0.8% 1.1% 1.2%
2016-09-29 12:30 PM Q2 1.4% 0.8% 1.3% 1.2%
2016-10-28 11:30 AM Q3 1.4% 1.8%
2016-11-29 01:30 PM Q3 1.4%
2016-12-22 01:30 PM Q3 1.4%

US GDP Growth Revised Up to 1.4% in Q2


The US economy expanded an annualized 1.4 percent on quarter in the three months to June of 2016, better than a second estimate of 1.1 percent. It is the strongest growth rate in three quarters. Consumer spending continued to boost growth although it expanded less than expected while exports rose at a faster pace and business investment posted the first gain in three quarters.

Personal consumption expenditure (PCE) contributed 2.88 percentage points to growth (2.94 percent in the second estimate) and rose 4.3 percent (4.4 percent in the second estimate). Spending on both durable goods (9.8 percent compared to 9.9 percent in the second estimate) and services (3 percent compared to 3.1 percent in the second estimate) rose slightly less than anticipated while non-durable goods growth was unchanged at 5.7 percent. 

Fixed investment subtracted 0.18 percentage points from the growth (-0.42 percent in the advance estimate) and shrank 1.1 percent (-2.5 percent in the second estimate). Nonresidential investment went up 1 percent, better than a 0.9 percent fall in the second estimate while residential investment fell 7.7 percent (unchanged from the second estimate). 

Private inventories subtracted 1.16 percentage points from the growth, compared to a 1.26 percentage points decrease earlier estimated. Businesses lost $9.5 billion worth of inventory, compared to a $12.4 billion loss in the second estimate. It is the first time since 2011 inventories fell.

Meanwhile, exports increased at a faster 1.8 percent (1.2 percent in the second estimate) while imports rose at a slower 0.2 percent, compared to a 0.3 percent gain in the second estimate, thus bringing the impact from trade to a higher 0.18 percent (0.1 percent earlier reported). 

Government spending and investment subtracted 0.3 percentage points from the growth, more than -0.27 percent in the second estimate. It went down 1.7 percent (compared to a 1.5 percent decline earlier estimated).

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
9/29/2016 12:55:53 PM

United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 0.80 16.90 -10.00 percent [+]
GDP Annual Growth Rate 1.30 1.60 13.40 -4.10 percent [+]
GDP 17947.00 17348.08 17947.00 543.30 USD Billion [+]
GDP Constant Prices 16583.10 16525.00 16583.10 2084.60 USD Billion [+]
Gross National Product 16757.60 16668.30 16757.60 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2778.80 2786.70 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 182.20 193.40 235.10 123.30 USD Billion [+]
GDP From Construction 761.20 743.00 761.20 528.70 USD Billion [+]
GDP From Manufacturing 2159.00 2179.40 2187.70 1679.40 USD Billion [+]
GDP From Mining 215.20 260.00 476.10 197.60 USD Billion [+]
GDP From Public Administration 2356.50 2341.90 2356.50 1705.00 USD Billion [+]
GDP From Services 12556.10 12447.10 12556.10 8469.60 USD Billion [+]
GDP From Transport 534.10 534.40 534.40 357.50 USD Billion [+]
GDP From Utilities 285.00 288.50 296.60 193.00 USD Billion [+]




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Bangladesh 7.05 Dec/16
Venezuela 6.80 Dec/13
Vietnam 6.40 Sep/16
Angola 4.90 Dec/15
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Indonesia 4.02 Jun/16
Algeria 4.00 Dec/14
Macedonia 3.90 Mar/14
United Arab Emirates 3.90 Dec/15
Egypt 3.80 Dec/15
South Africa 3.30 Jun/16
Sri Lanka 2.60 Jun/16
Paraguay 2.50 Jun/16
Iceland 2.10 Jun/16
China 1.80 Jun/16
Philippines 1.80 Jun/16
Costa Rica 1.75 Mar/16
Hong Kong 1.60 Jun/16
Jamaica 1.60 Jun/16
El Salvador 1.55 Dec/15
Romania 1.50 Jun/16
Saudi Arabia 1.50 Mar/16
Tanzania 1.50 Sep/10
India 1.40 Jun/16
Mongolia 1.40 Jun/16
United States 1.40 Jun/16
Bosnia and Herzegovina 1.30 Mar/16
Kazakhstan 1.26 Dec/13
Albania 1.20 Mar/16
Bahrain 1.20 Jun/16
Ghana 1.10 Mar/16
Hungary 1.00 Jun/16
Israel 1.00 Jun/16
Czech Republic 0.90 Jun/16
Mauritius 0.90 Mar/16
New Zealand 0.90 Jun/16
Poland 0.90 Jun/16
Slovakia 0.90 Jun/16
Nigeria 0.82 Jun/16
South Korea 0.80 Jun/16
Spain 0.80 Jun/16
Thailand 0.80 Jun/16
Bulgaria 0.70 Jun/16
Cyprus 0.70 Jun/16
Luxembourg 0.70 Mar/16
Malaysia 0.70 Jun/16
United Kingdom 0.70 Jun/16
Ireland 0.60 Jun/16
Latvia 0.60 Jun/16
Moldova 0.60 Jun/16
Netherlands 0.60 Jun/16
Switzerland 0.60 Jun/16
Ukraine 0.60 Jun/16
Australia 0.50 Jun/16
Belgium 0.50 Jun/16
Croatia 0.50 Jun/16
Estonia 0.50 Jun/16
Slovenia 0.50 Jun/16
Sweden 0.50 Jun/16
Denmark 0.40 Jun/16
European Union 0.40 Jun/16
Germany 0.40 Jun/16
Austria 0.30 Jun/16
Cameroon 0.30 Mar/16
Euro Area 0.30 Jun/16
Portugal 0.30 Jun/16
Singapore 0.30 Jun/16
Turkey 0.30 Jun/16
Colombia 0.20 Jun/16
Greece 0.20 Jun/16
Japan 0.20 Jun/16
Lithuania 0.20 Jun/16
Malta 0.20 Jun/16
Tunisia 0.20 Jun/16
Taiwan 0.15 Jun/16
Belize 0.05 Jun/16
Finland 0.00 Jun/16
Italy 0.00 Jun/16
Mozambique 0.00 Jun/16
Norway 0.00 Jun/16
Peru 0.00 Mar/16
Serbia 0.00 Jun/16
Uruguay 0.00 Jun/16
France -0.10 Jun/16
Mexico -0.20 Jun/16
Canada -0.40 Jun/16
Chile -0.40 Jun/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Brazil -0.60 Jun/16
Botswana -1.30 Jun/16
Uganda -1.30 Mar/16
Kenya -1.40 Mar/16
Rwanda -1.40 Jun/16
Dominican Republic -1.67 Mar/16
Ecuador -1.90 Mar/16
Argentina -2.10 Jun/16
Senegal -2.50 Jun/16
Qatar -2.60 Mar/16
Trinidad And Tobago -3.90 Mar/16
Namibia -6.20 Jun/16