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

The US economy expanded an annualized 1.1 percent on quarter in the first three months of 2016, higher than a second estimate of 0.8 percent, according to final figures released by the Bureau of Economic Analysis. Consumer spending continued to boost growth although it expanded less than expected while exports and software investment rebounded. GDP Growth Rate in the United States averaged 3.23 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
1.10 1.40 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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-28 12:30 PM Q1 0.5% 1.4% 0.7% 0.6%
2016-05-27 12:30 PM Q1 0.8% 1.4% 0.9% 0.7%
2016-06-28 12:30 PM Q1 1.1% 1.4% 1% 0.8%
2016-07-29 12:30 PM Q2 1.1% 2.6% 2%
2016-08-26 12:30 PM Q2 1.1%
2016-09-29 12:30 PM Q2 1.1%

US Q1 GDP Growth Revised Up to 1.1%


The US economy expanded an annualized 1.1 percent on quarter in the first three months of 2016, higher than a second estimate of 0.8 percent, according to final figures released by the Bureau of Economic Analysis. Consumer spending continued to boost growth although it expanded less than expected while exports and software investment rebounded.

Personal consumption expenditure (PCE) contributed 1.02 percentage points to growth (1.29 percent in the second estimate), the lowest contribution in two years. It went up 1.5 percent, below 1.9 percent in the second estimate and also the lowest growth rate since the first quarter of 2014. Spending on durable goods (-1.6 percent from -1.2 percent in the second estimate) fell more than expected and consumption of both nondurable goods (1 percent from 1.3 percent in the second estimate) and services (2.1 percent from 2.6 percent in the second estimate) rose less than anticipated. 

Fixed investment subtracted 0.06 percentage points to growth (-0.25 percent in the second estimate) and shrank 0.4 percent (-1.5 percent in the second estimate). Nonresidential investment declined at a slower 4.5 percent (-6.2 percent in the second estimate): structures fell less (-7.9 percent from -8.9 percent in the second estimate) while investment in intellectual property products jumped 4.4 percent (compared to a 0.1 percent fall in the second estimate). Residential investment increased 15.6 percent, slightly below a 17.1 percent rise in the second estimate. 

Private inventories subtracted 0.23 percentage points from the growth, compared to a 0.2 percentage points decrease earlier estimated. Businesses accumulated $68.3 billion worth of inventory, compared to $69.6 billion earlier reported. 

Meanwhile, export growth was revised to show a 0.3 percent gain instead of a 2 percent fall in the second estimate. Imports contracted at a faster 0.5 percent (-0.2 percent in the second estimate), thus brining net trade contribution to growth up to 0.12 percent (-0.21 percent in the second estimate)

Government spending and investment added 0.23 percentage points to growth, slightly up from 0.2 percent earlier reported the same as in the advance estimate.

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
6/28/2016 1:56:13 PM

United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 1.40 16.90 -10.00 percent [+]
GDP Annual Growth Rate 2.10 2.00 13.40 -4.10 percent [+]
GDP 17947.00 17348.08 17947.00 543.30 USD Billion [+]
GDP Constant Prices 16514.60 16470.60 16514.60 2084.60 USD Billion [+]
Gross National Product 16640.60 16631.70 16640.60 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2760.60 2763.20 2763.20 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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Vietnam 7.01 Dec/15
Venezuela 6.80 Dec/13
Bangladesh 6.51 Dec/15
Sri Lanka 5.50 Mar/16
Angola 4.90 Dec/15
United Arab Emirates 4.60 Dec/14
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Algeria 4.00 Dec/14
Macedonia 3.90 Mar/14
Egypt 3.80 Dec/15
Saudi Arabia 3.60 Dec/15
Dominican Republic 3.58 Dec/15
Mongolia 3.10 Mar/16
Rwanda 2.35 Dec/15
India 2.10 Mar/16
Botswana 1.80 Mar/16
China 1.80 Jun/16
Mozambique 1.80 Mar/16
Moldova 1.70 Mar/16
Serbia 1.60 Mar/16
El Salvador 1.55 Dec/15
Romania 1.50 Mar/16
Tanzania 1.50 Sep/10
Bolivia 1.30 Dec/15
Bosnia and Herzegovina 1.30 Mar/16
Chile 1.30 Mar/16
Kazakhstan 1.26 Dec/13
Albania 1.20 Mar/16
Australia 1.10 Mar/16
Ghana 1.10 Mar/16
Malta 1.10 Dec/15
Philippines 1.10 Mar/16
United States 1.10 Mar/16
Malaysia 1.00 Mar/16
Norway 1.00 Mar/16
Bahrain 0.90 Mar/16
Cyprus 0.90 Mar/16
Mauritius 0.90 Mar/16
Thailand 0.90 Mar/16
Lithuania 0.80 Mar/16
Mexico 0.80 Mar/16
Paraguay 0.80 Mar/16
Singapore 0.80 Jun/16
Spain 0.80 Mar/16
Turkey 0.80 Mar/16
Taiwan 0.78 Mar/16
Bulgaria 0.70 Mar/16
Costa Rica 0.70 Dec/15
Denmark 0.70 Mar/16
Germany 0.70 Mar/16
Luxembourg 0.70 Mar/16
New Zealand 0.70 Mar/16
Slovakia 0.70 Mar/16
South Korea 0.70 Jun/16
Canada 0.60 Mar/16
Croatia 0.60 Apr/16
Euro Area 0.60 Mar/16
Finland 0.60 Mar/16
France 0.60 Mar/16
Austria 0.50 Mar/16
European Union 0.50 Mar/16
Japan 0.50 Mar/16
Netherlands 0.50 Mar/16
Slovenia 0.50 Mar/16
Sweden 0.50 Mar/16
Czech Republic 0.40 Mar/16
Israel 0.40 Mar/16
Tunisia 0.40 Mar/16
United Kingdom 0.40 Mar/16
Italy 0.30 Mar/16
Belgium 0.20 Mar/16
Colombia 0.20 Mar/16
Portugal 0.20 Mar/16
Jamaica 0.10 Dec/15
Latvia 0.10 Mar/16
Switzerland 0.10 Mar/16
Uruguay 0.10 Mar/16
Cameroon 0.05 Dec/15
Estonia 0.00 Mar/16
Peru 0.00 Mar/16
Poland -0.10 Mar/16
Belize -0.25 Dec/15
Brazil -0.30 Mar/16
Indonesia -0.34 Mar/16
Hong Kong -0.40 Mar/16
Greece -0.50 Mar/16
Iceland -0.50 Mar/16
Qatar -0.50 Dec/15
Russia -0.57 Sep/15
Trinidad And Tobago -0.60 Dec/15
Argentina -0.70 Mar/16
Ukraine -0.70 Mar/16
Hungary -0.80 Mar/16
South Africa -1.20 Mar/16
Uganda -1.30 Mar/16
Kenya -1.40 Mar/16
Namibia -1.60 Mar/16
Ecuador -1.90 Mar/16
Ireland -2.10 Mar/16
Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16