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

Real gross domestic product in the United States decreased at an annual rate of 0.2 percent in the first quarter of 2015, according to the "third" estimate released by the Bureau of Economic Analysis. In the second estimate, the decrease in real GDP was 0.7 percent. With the third estimate for the first quarter, exports decreased less than previously estimated, and personal consumption expenditures (PCE) and imports increased more. 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
-0.20 2.20 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. Content for - United States GDP Growth Rate - was last refreshed on Wednesday, July 1, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-04-29 01:30 PM Q1 0.2% 2.2% 1.0% 1.27%
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 -0.2% 1.5%
2015-08-27 01:30 PM Q2 -0.2%
2015-09-25 01:30 PM Q2 -0.2%


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.

The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from PCE, private inventory investment, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

Real personal consumption expenditures increased 2.1 percent in the first quarter, compared with an increase of 4.4 percent in the fourth. Durable goods increased 1.3 percent, compared with an increase of 6.2 percent. Nondurable goods increased 0.8 percent, compared with an increase of 4.1 percent. Services increased 2.7 percent, compared with an increase of 4.3 percent.

Real nonresidential fixed investment decreased 2.0 percent in the first quarter, in contrast to an increase of 4.7 percent in the fourth. Investment in nonresidential structures decreased 18.8 percent, in contrast to an increase of 5.9 percent. Investment in equipment increased 2.6 percent, compared with an increase of 0.6 percent. Investment in intellectual property products increased 4.9 percent, compared with an increase of 10.3 percent. Real residential fixed investment increased 6.5 percent, compared with an increase of 3.8 percent.

Real exports of goods and services decreased 5.9 percent in the first quarter, in contrast to an increase of 4.5 percent in the fourth. Real imports of goods and services increased 7.1 percent, compared with an increase of 10.4 percent.

Real federal government consumption expenditures and gross investment was unchanged in the first quarter, in contrast to a decrease of 7.3 percent in the fourth. National defense decreased 1.2 percent, compared with a decrease of 12.2 percent. Nondefense increased 2.0 percent, compared with an increase of 1.5 percent. Real state and local government consumption expenditures and gross investment decreased 1.0 percent, in contrast to an increase of 1.6 percent.

The change in real private inventories added 0.45 percentage point to the first-quarter change in real GDP after subtracting 0.10 percentage point from the fourth-quarter change. Private businesses increased inventories $99.5 billion in the first quarter, following increases of $80.0 billion in the fourth quarter and $82.2 billion in the third.

US Bureau of Economic Analysis | Joana Taborda | joana.taborda@tradingeconomics.com
6/24/2015 1:56:18 PM


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Published on 2015-05-29

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United States GDP Last Previous Highest Lowest Unit
GDP 16768.10 16163.20 16768.10 543.30 USD Billion [+]
GDP Growth Rate -0.20 2.20 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.90 2.40 13.40 -4.10 percent [+]
GDP Constant Prices 16264.10 16294.70 16294.70 2084.60 USD Billion [+]
Gross National Product 16396.90 16454.70 16454.70 2098.40 USD Billion [+]
GDP per capita 45863.02 45341.73 45863.02 15469.07 USD [+]
Gross Fixed Capital Formation 2670.70 2672.80 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 0.90 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 1.30 Mar/15 1.50 2.50 1.30 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 0.80 Mar/15 0.30 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.53 -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 0.40 Mar/15 0.80 5.00 -2.70 percent [+]
United States -0.20 Mar/15 2.20 16.90 -10.00 percent [+]