United States GDP Growth

The Gross Domestic Product (GDP) in the United States expanded at an annual rate of 2.60 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in the United States is reported by the U.S. Bureau of Economic Analysis. GDP Growth Rate in the United States averaged 3.24 Percent from 1947 until 2013, reaching an all time high of 17.20 Percent in the first quarter of 1950 and a record low of -10.40 Percent in the first quarter of 1958. 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. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.60 4.10 17.20 -10.40 3.60 | 2014/06 1947 - 2013 Percent Quarterly


United States GDP Growth

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-20 01:30 PM United States
GDP Growth Rate QoQ Final
Q3 2013 4.1% 2.5% 3.6% 3.6%
2014-01-30 01:30 PM United States
GDP Growth Rate QoQ Adv
Q4 2013 3.2% 4.1% 3.2% 2.8%
2014-02-28 01:30 PM United States
GDP Growth Rate QoQ - 2 Est
Q4 2013 2.4% 4.1% 3.2% 3.2%
2014-03-27 12:30 PM United States
GDP Growth Rate QoQ Final
Q4 2013 2.6% 4.1% 2.4% 2.4%
2014-04-30 01:30 PM United States
GDP Growth Rate QoQ Adv
Q1 2014 2.6% 2.79%
2014-05-29 01:30 PM United States
GDP Growth Rate QoQ - 2 Est
Q1 2014 2.6%

GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 2.60 2013-12-31 4.10 17.20 -10.40 3.60 2014-06-30 Percent [+]
GDP Annual Growth Rate 2.60 2013-12-31 2.00 13.40 -4.10 3.20 2014-06-30 Percent [+]
GDP Constant Prices 15942.30 2013-11-15 15839.30 15942.30 2082.50 16185.19 2014-06-30 USD Billion [+]
Gross Fixed Capital Formation 2511.20 2013-11-15 2494.00 2700.70 1215.60 2581.08 2014-06-30 USD Billion [+]
Gross National Product 16188.90 2013-11-15 16067.40 16188.90 2096.40 16403.20 2014-06-30 USD Billion [+]
GDP per capita 45336.00 2012-12-31 44439.00 45431.00 15565.00 46636.52 2014-06-30 USD [+]
GDP per capita PPP 45336.00 2012-12-31 44439.00 45431.00 25748.00 46636.52 2014-06-30 USD [+]
GDP 15684.80 2012-12-31 14991.30 15684.80 520.53 16706.83 2014-06-30 USD Billion [+]

US GDP Growth Revised Up to 2.6% in Q4

U.S. economy grew more rapidly in the fourth quarter than previously estimated, according to the "third" estimate released by the Bureau of Economic Analysis. While personal consumption expenditures climbed by the most in three years, private investment in inventories and in intellectual property products were revised down.

The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month.  In the second estimate, the increase in real GDP was 2.4 percent.

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

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

Bureau of Economic Analysis | anna@tradingeconomics.com
3/27/2014 12:40:05 PM


US GDP Growth Revised Down to 2.4% in Q4
Real gross domestic product in the United States increased at an annual rate of 2.4 percent in the fourth quarter of 2013 compared with the 3.2 percent gain issued last month as consumer spending and exports grew less than initially thought. Published on 2014-02-28

U.S. Economy Expands 3.2% in Q4
Real GDP in the United States grew at an annualised 3.2 percent pace in the fourth quarter of 2013, as consumer spending grew the most in three years. The "advance" estimate released by the Bureau of Economic Analysis matched the expectations. Published on 2014-01-30

GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
US Industrial Production Slows in March  
Industrial production increased 0.7 percent in March after having advanced 1.2 percent in February. Yet, manufacturing output rose for the second straight month.
US Housing Starts Rise Below Forecasts  
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 946,000. This is 2.8 percent above the revised February estimate of 920,000, but down 5.9 percent year-on-year.
US Inflation Rate Up to 1.5% in March  
US annual consumer prices accelerated to 1.5 percent in March, boosted by higher shelter and food cost. On a monthly basis, the inflation rate edged up to 0.2 percent, following a 0.1 percent increase in February.
US Retail Sales Beat Expectations in March  
Retail sales increased 1.1 percent over the previous month in March of 2014, up from a revised 0.7 percent rise in February. It is the biggest growth rate in 1-1/2 years.
US Consumer Sentiment Up to 9-Month High  
The Thomson Reuters/University of Michigan's consumer sentiment index increased to a preliminary reading of 82.6 in April of 2014, up from March’s final 80.0. It is the highest level since July of 2013, as current conditions and expectations surged.
US Jobless Claims Down to Nearly 7-Year Low  
In the week ending April 5, the advance figure for seasonally adjusted initial claims was 300,000, a decrease of 32,000 from the previous week's revised level. The last time initial claims were this low was May 12, 2007 when they were 297,000. There were no special factors impacting this week's initial claims.
US Unemployment Rate Steady at 6.7%  
In March of 2014, the number of unemployed persons was essentially unchanged at 10.5 million, and the unemployment rate held at 6.7 percent. Over the year, the number of unemployed persons and the jobless rate were down by 1.2 million and 0.8 percentage point, respectively.
US Non-Farm Payrolls Rise 192K in March  
In March, total nonfarm payroll employment rose by 192,000, down from 197,00 in the previous month. Job growth averaged 183,000 per month over the prior 12 months. In March, employment grew in professional and business services, in health care, and in mining and logging.
US Service Sector Accelerates in March  
The Institute for Supply Management index of non-manufacturing activity rose to 53.1 in March, up from February’s reading of 51.6, as employment increased.


Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
Hong Kong Unemployment Rate Unchanged in March  
Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.
Hong Kong Inflation Rate Unchanged in March  
Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.
China Cuts Reserve Ratio for Rural Banks  
The People's Bank of China decided to cut the reserve requirement ratio by 2 percentage points for rural commercial banks and by 0.5 percentage point for rural credit cooperatives, aiming to stimulate growth in some parts of the country. The cut will be effective from April 25th, 2014.
Japanese Trade Deficit Widens in March  
Japan’s trade gap increased to a wider-than-expected ¥ 1446.3 billion in March of 2014, up from a revised ¥ 802.5 billion deficit in the previous month and a ¥ 356.9 billion gap a year earlier, as energy imports continued to rise.
Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.

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