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

The Gross Domestic Product (GDP) in the United States expanded an annualized 3.70 percent in the second quarter of 2015 over the previous quarter, much higher than an advance estimate of 2.3 percent, according to the second estimate from the Bureau of Economic Analysis. Higher business spending and a quicker build up of inventories by businesses helped improve the pace of expansion. GDP Growth Rate in the United States averaged 3.25 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.

United States GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.70 0.60 16.90 -10.00 1947 - 2015 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. Content for - United States GDP Growth Rate - was last refreshed on Monday, August 31, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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 3.7% 0.6% 3.2% 2.8%
2015-09-25 01:30 PM Q2 0.6% 3.7% 3.7%
2015-10-29 12:30 PM Q3 2.5%
2015-11-24 01:30 PM Q3


US GDP Growth Revised Up to 3.7%


The US economy expanded an annualized 3.7 percent on quarter in the three months to June, according to the second estimate released by the Bureau of Economic Analysis. Figures came better than a 2.3 percent gain initially reported and beat market expectations due to higher business spending and quicker build up of inventories.

Nonresidential fixed asset investment rose 3.2 percent, compared to 0.6 percent drop in advance estimate. Investment in nonresidential structures grew 3.1 percent compared to an advance 1.6 percent drop and equipment investment fell less than anticipated by 0.4 percent (-4.1 percent in the advance estimate). Investment in intellectual property products increased 8.6 percent, compared to an advance estimate of 5.5 percent and residential fixed investment went up 7.8 percent, higher than a 6.6 percent gain in the advance estimate. 

The accumulation of inventories was also revised upwards to $121.1 billion from $110.0 billion, thus contributing 0.22 percent to growth instead of subtracting 0.08 percentage point as initially reported. 

Personal consumption expenditure increased 3.1 percent compared to a 2.9 percent gain in the advance estimate while federal consumption and investment posted no growth, compared to a 1.1 percent drop in the advance estimate. 

Exports of goods and services went up 5.2 percent, slightly below a 5.3 percent gain in the advance estimate.  Imports rose 2.8 percent compared to 3.5 percent gain initially reported. As a result net exports contributed 0.23 percentage point to the growth.

US Bureau of Economic Analysis | Joana Taborda | joana.taborda@tradingeconomics.com
8/27/2015 2:51:38 PM


Recent Releases

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.
Published on 2015-07-30

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


United States GDP Last Previous Highest Lowest Unit
GDP 17419.00 16768.10 17419.00 543.30 USD Billion [+]
GDP Growth Rate 3.70 0.60 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.70 2.90 13.40 -4.10 percent [+]
GDP Constant Prices 16324.30 16177.30 16324.30 2084.60 USD Billion [+]
Gross National Product 16509.30 16371.40 16509.30 2098.40 USD Billion [+]
GDP per capita 46405.26 45660.73 46405.26 15791.86 USD [+]
Gross Fixed Capital Formation 2728.60 2701.40 2728.60 1215.60 USD Billion [+]
GDP per capita PPP 52117.76 51281.58 52117.76 36543.10 USD [+]
Gdp From Agriculture 190.70 209.00 235.10 123.30 USD Billion [+]
Gdp From Construction 686.20 672.70 721.60 528.70 USD Billion [+]
Gdp From Manufacturing 2116.60 2116.90 2116.90 1679.40 USD Billion [+]
Gdp From Mining 332.50 435.10 476.10 197.60 USD Billion [+]
Gdp From Public Administration 2270.60 2257.40 2270.60 1705.00 USD Billion [+]
Gdp From Services 12096.60 12012.70 12096.60 8469.60 USD Billion [+]
Gdp From Transport 515.40 518.20 518.20 357.50 USD Billion [+]
Gdp From Utilities 296.60 294.10 296.60 193.00 USD Billion [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -1.90 Jun/15 -0.70 3.90 -3.90 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 0.30 Jun/15 0.40 1.30 -2.90 percent [+]
France 0.00 Jun/15 0.60 7.70 -5.00 percent [+]
Germany 0.40 Jun/15 0.30 2.00 -4.50 percent [+]
India 2.06 Mar/15 1.36 5.30 -1.70 percent [+]
Indonesia 3.78 Jun/15 -0.18 3.83 -3.57 percent [+]
Italy 0.20 Jun/15 0.30 6.00 -3.50 percent [+]
Japan -0.40 Jun/15 1.00 3.20 -4.00 percent [+]
Mexico 0.50 Jun/15 0.40 2.90 -6.60 percent [+]
Netherlands 0.10 Jun/15 0.60 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 Jun/15 -0.20 2.10 -1.90 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 3.70 Jun/15 0.60 16.90 -10.00 percent [+]