United States GDP Growth Rate 1947-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United States expanded at a seasonally adjusted annual rate of 3.50 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in the United States averaged 3.27 Percent from 1947 until 2014, 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


Actual Previous Highest Lowest Dates Unit Frequency
3.50 4.60 16.90 -10.00 1947 - 2014 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 - United States Economy Expands 3.2% in Q4 - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United States GDP Growth Rate - was last refreshed on Monday, November 24, 2014.


US GDP Growth Beats Expectations in Q3


The United States economy advanced an annualized 3.5 percent in the third quarter of 2014, slowing from a 4.6 percent increase in the previous period. Advance estimates showed a downturn in inventory, residential and nonresidential investment and deceleration in personal consumption, exports and state and local public spending.

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

The deceleration in the percent change in real GDP reflected a downturn in private inventory investment and deceleration in PCE, in nonresidential fixed investment, in exports, in state and local government spending, and in residential fixed investment that were partly offset by a downturn in imports and an upturn in federal government spending.

Real personal consumption expenditures increased 1.8 percent in the third quarter, compared with an increase of 2.5 percent in the second. Durable goods increased 7.2 percent, compared with an increase of 14.1 percent. Nondurable goods increased 1.1 percent, compared with an increase of 2.2 percent. Services increased 1.1 percent, compared with an increase of 0.9 percent.

Real nonresidential fixed investment increased 5.5 percent in the third quarter, compared with an increase of 9.7 percent in the second. Investment in nonresidential structures increased 3.8 percent, compared with an increase of 12.6 percent. Investment in equipment increased 7.2 percent, compared with an increase of 11.2 percent. Investment in intellectual property products increased 4.2 percent, compared with an increase of 5.5 percent. Real residential fixed investment increased 1.8 percent, compared with an increase of 8.8 percent.

Real exports of goods and services increased 7.8 percent in the third quarter, compared with an increase of 11.1 percent in the second. Real imports of goods and services decreased 1.7 percent, in contrast to an increase of 11.3 percent.

Real federal government consumption expenditures and gross investment increased 10.0 percent in the third quarter, in contrast to a decrease of 0.9 percent in the second. National defense increased 16.0 percent, compared with an increase of 0.9 percent. Nondefense increased 0.5 percent, in contrast to a decrease of 3.8 percent. Real state and local government consumption expenditures and gross investment increased 1.3 percent, compared with an increase of 3.4 percent.

The change in real private inventories subtracted 0.57 percentage point from the third-quarter change in real GDP after adding 1.42 percentage points to the second-quarter change. Private businesses increased inventories $62.8 billion in the third quarter, following increases of $84.8 billion in the second quarter and $35.2 billion in the first.

U.S. Commerce Department | Joana Taborda | joana.taborda@tradingeconomics.com
10/30/2014 12:56:58 PM


Recent Releases

US GDP Growth Revised Up to 4.6%
The United States economy advanced an annualized 4.6 percent in the second quarter of 2014, according to the final estimate released by the Bureau of Economic Analysis. It is the highest growth rate in 2-1/2 years, as business investment and exports grew more than expected. Published on 2014-09-26

US Economy Rebounds Stronger Than Expected
The United States economy advanced an annualized 4.2 percent in the second quarter of 2014, according to the second estimate released by the Bureau of Economic Analysis. The new figure comes better than an advance estimate of 4 percent, as business investment and exports contributed more to the growth. Published on 2014-08-28


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-08-28 01:30 PM
GDP Growth Rate QoQ - 2 Est  Q2 2014
4.2% -2.1% 3.9% 4.0%
2014-09-26 01:30 PM
GDP Growth Rate QoQ Final  Q2 2014
4.6% -2.1% 4.6% 4.2%
2014-10-30 12:30 PM
GDP Growth Rate QoQ Adv  Q3 2014
3.5% 4.6% 3.0% 2.2%
2014-11-25 01:30 PM
GDP Growth Rate QoQ - 2 Est  Q3 2014
4.6% 3.3%
2014-12-23 01:30 PM
GDP Growth Rate QoQ Final  Q3 2014
4.6%


United States GDP Last Previous Highest Lowest Unit
GDP 16800.00 16244.60 16800.00 520.53 USD Billion [+]
GDP Growth Rate 3.50 4.60 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.30 2.60 13.40 -4.10 percent [+]
GDP Constant Prices 16150.60 16010.40 16150.60 2082.50 USD Billion [+]
Gross National Product 16189.80 16009.80 16189.80 2096.40 USD Billion [+]
GDP per capita 45863.02 45341.73 45863.02 15469.07 USD [+]
Gross Fixed Capital Formation 2624.60 2594.50 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 0.50 May/14 1.10 4.50 -2.00 percent [+]
Brazil -0.60 May/14 -0.20 4.50 -4.20 percent [+]
Canada 0.80 May/14 0.20 3.33 -1.80 percent [+]
China 1.90 Aug/14 2.00 2.50 1.40 percent [+]
Euro Area 0.20 Aug/14 0.10 1.30 -2.80 percent [+]
France 0.30 Aug/14 -0.10 1.60 -1.70 percent [+]
Germany 0.10 Aug/14 -0.10 2.10 -3.70 percent [+]
India 1.20 May/14 1.90 5.80 -1.90 percent [+]
Indonesia 2.96 Aug/14 2.49 3.82 -3.57 percent [+]
Italy -0.10 Aug/14 -0.20 6.00 -3.50 percent [+]
Japan -0.40 Aug/14 -1.90 3.20 -4.00 percent [+]
Mexico 0.50 Aug/14 0.90 2.90 -6.60 percent [+]
Netherlands 0.20 Aug/14 0.60 2.00 -2.20 percent [+]
Russia 0.25 May/14 0.07 4.10 -5.40 percent [+]
South Korea 0.90 Aug/14 0.50 6.80 -7.00 percent [+]
Spain 0.50 Aug/14 0.60 1.53 -1.60 percent [+]
Switzerland 0.00 May/14 0.50 1.90 -2.20 percent [+]
Turkey -0.50 May/14 1.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Aug/14 0.90 5.00 -2.70 percent [+]
United States 3.50 Aug/14 4.60 16.90 -10.00 percent [+]