United States GDP Growth Rate

The Gross Domestic Product (GDP) in the United States expanded by a seasonally adjusted annual rate of 4 percent in the second 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.

   
 
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United States GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
4.00 -2.10 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.


US Economy Rebounds in Q2


The United States GDP advanced 4 percent in the second quarter of 2014, rebounding from a revised 2.1 percent contraction in the previous period. Upturns in private inventory investment and exports and an acceleration in personal consumption and investment contributed to better than expected results.

The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures, private inventory investment, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment. Imports increased.

The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.9 percent in the second quarter, compared with an increase of 1.4 percent in the first. Excluding food and energy prices, the price index for gross domestic purchases increased 1.7 percent, compared with an increase of 1.3 percent.

Real personal consumption expenditures increased 2.5 percent in the second quarter, compared with an increase of 1.2 percent in the first. Durable goods increased 14.0 percent, compared with an increase of 3.2 percent. Nondurable goods increased 2.5 percent; it was unchanged in the first quarter. Services increased 0.7 percent in the second quarter, compared with an increase of 1.3 percent in the first.

Real nonresidential fixed investment increased 5.5 percent in the second quarter, compared with an increase of 1.6 percent in the first. Investment in nonresidential structures increased 5.3 percent, compared with an increase of 2.9 percent.  Investment in equipment increased 7.0 percent, in contrast to a decrease of 1.0 percent. Investment in intellectual property products increased 3.5 percent, compared with an increase of 4.6 percent. Real residential fixed investment increased 7.5 percent, in contrast to a decrease of 5.3 percent.

Real exports of goods and services increased 9.5 percent in the second quarter, in contrast to a decrease of 9.2 percent in the first. Real imports of goods and services increased 11.7 percent, compared with an increase of 2.2 percent.

Real federal government consumption expenditures and gross investment decreased 0.8 percent in the second quarter, compared with a decrease of 0.1 percent in the first.  National defense increased 1.1 percent, in contrast to a decrease of 4.0 percent. Nondefense decreased 3.7 percent, in contrast to an increase of 6.6 percent. Real state and local government consumption expenditures and gross investment increased 3.1 percent, in contrast to a decrease of 1.3 percent.

U.S. Commerce Department | Joana Taborda | joana.taborda@tradingeconomics.com
7/30/2014 1:54:46 PM


Recent Releases

US GDP Contracts More Than Expected
The United States GDP shrank at an annual rate of 2.9 percent in the first quarter of 2014, according to the third and final estimate from the Commerce Department. The figure comes much worse than a 1 percent contraction previously announced, as the increase in personal consumption was smaller than estimated, and the decline in exports was larger than anticipated. Published on 2014-06-25

US Economy Contracts 1% in Q1
United States GDP shrank at an annual rate of 1.0 percent in the first quarter of 2014, according to the second estimate released by the Commerce Department. It is the worst performance in three years and comes lower than a preliminary estimated 0.1 percent expansion, due to a sharper fall in private inventory investment and a bigger trade deficit. Published on 2014-05-30


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-30 01:30 PM United States
GDP Growth Rate QoQ Adv
Q1 2014 0.1% 2.6% 1.2% 1.6%
2014-05-29 01:30 PM United States
GDP Growth Rate QoQ - 2 Est.
Q1 2014 -1.0% 2.6% -0.5% -0.2%
2014-06-25 01:30 PM United States
GDP Growth Rate QoQ Final
Q1 2014 -2.9% 2.6% -1.0% -1.0%
2014-07-30 01:30 PM United States
GDP Growth Rate QoQ Adv
Q2 2014 4.0% -2.1% (R) 2.9% 3%
2014-08-28 01:30 PM United States
GDP Growth Rate QoQ - 2 Est
Q2 2014 -2.1% 4.0% 4.0%


GDP Last Previous Highest Lowest Unit
GDP 16800.00 16244.60 16800.00 520.53 USD Billion [+]
GDP Growth Rate 4.00 -2.10 16.90 -10.00 Percent [+]
GDP Annual Growth Rate 2.40 1.90 13.40 -4.10 Percent [+]
GDP Constant Prices 15985.70 15831.70 15985.70 2082.50 USD Billion [+]
Gross National Product 16040.80 16188.90 16188.90 2096.40 USD Billion [+]
GDP per capita 45863.02 45341.73 45863.02 15469.07 USD [+]
Gross Fixed Capital Formation 2572.70 2536.10 2700.70 1215.60 USD Billion [+]
GDP per capita PPP 45336.00 44439.00 45431.00 25748.00 USD [+]





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