United States GDP Growth Rate  1947-2017 | Data | Chart | Calendar

The US economy advanced an annualized 1.9 percent on quarter in the fourth quarter of 2016, the same as in the preliminary estimate. In the third quarter, real GDP increased 3.5 percent. With the second estimate for the fourth quarter, the general picture of economic growth remains the same; the increase in personal consumption expenditures was larger and increases in state and local government spending and in nonresidential fixed investment were smaller than previously estimated . GDP Growth Rate in the United States averaged 3.22 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.

United States GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-22 01:30 PM Q3 3.5% 1.4% 3.3% 3.2%
2017-01-27 01:30 PM Q4 1.9% 3.5% 2.2% 2.2%
2017-02-28 01:30 PM Q4 1.9% 3.5% 2.1% 2.1%
2017-03-30 12:30 PM Q4 3.5% 2% 2%
2017-04-28 12:30 PM Q1 2.5%
2017-05-26 12:30 PM Q1 2.5%




US GDP Growth Confirmed At 1.9% In Q4


The US economy advanced an annualized 1.9 percent on quarter in the last three months of 2016, slowing from a 3.5 percent growth in the previous period and matching earlier estimates. Consumer spending rose faster than anticipated while business investment was revised lower. In 2016, the GDP expanded 1.6%, the lowest since 2011.

Personal consumption expenditure (PCE) contributed 2.05 percentage points to growth (1.7 percent in the previous estimate) and rose 3 percent (2.5 percent in the previous estimate). Spending increased more than anticipated for durable goods (11.5 percent from 10.9 percent in the previous estimate), nondurable goods (2.8 percent from 2.3 percent in the earlier estimate) and services (1.8 percent from 1.3 percent in the earlier estimate).

Fixed investment added 0.51 percentage points to growth (0.67 percentage points in the earlier estimate) and increased 3.2 percent, compared to a 4.2 percent expansion in the previous release. Investment rose less for equipment (1.9 percent from 3.1 percent); residential (9.6 percent from 10.2 percent) and intellectual property products (4.5 percent from 6.4 percent) while investment in structures slumped 4.5 percent, slightly less than a 5 percent drop in the previous estimate.

Private inventories added 0.94 percentage points to growth, lower than 1 percentage points in the previous estimate but still the biggest contribution since the first quarter of 2015.  

Meanwhile, exports shrank 4 percent, slithly better than a 4.3 percent drop initially estimated reversing and imports increased at a faster 8.5 percent (8.3 percent in the previous estimate), bringing the impact from trade to -1.7 percent (matching earlier estimates). It is the biggest drag since the second quarter of 2010. 

Government spending and investment added 0.06 percentage points to growth (0.21 percent in the previous release) and rose 0.4 percent (1.2 percent in the preliminary estimate).

Considering full 2016, private investment slumped for the first time since 2009 (-1.6 percent from -1.5 percent in the advance estimate), dragged down by structures (-3 percent from -3.1 percent) and equipment (-2.9 percent from -2.8 percent). Consumer spending  rose 2.7 percent, the same as in earlier estimates and public spending and investment increased slightly less (0.8 percent from 0.9 percent). Exports went up 0.4 percent and imports rose 1.1 percent, matching earlier estimates. 

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
2/28/2017 1:57:33 PM



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.90 3.50 16.90 -10.00 percent [+]
GDP Annual Growth Rate 1.90 1.70 13.40 -4.10 percent [+]
GDP 18036.65 17393.10 18036.65 543.30 USD Billion [+]
GDP Constant Prices 16804.10 16727.00 16804.10 2084.60 USD Billion [+]
Gross National Product 16897.40 16757.60 16897.40 2098.40 USD Billion [+]
Gross Fixed Capital Formation 2801.30 2779.30 2801.30 1215.60 USD Billion [+]
GDP per capita 51638.10 50727.80 51638.10 17036.90 USD [+]
GDP per capita PPP 52704.20 51775.09 52704.20 36543.08 USD [+]
GDP From Agriculture 160.10 162.10 235.10 123.30 USD Billion [+]
GDP From Construction 784.90 779.00 784.90 528.70 USD Billion [+]
GDP From Manufacturing 2181.00 2171.70 2187.70 1679.40 USD Billion [+]
GDP From Mining 271.60 258.30 476.10 197.60 USD Billion [+]
GDP From Public Administration 2402.20 2381.00 2402.20 1705.00 USD Billion [+]
GDP From Services 12875.60 12698.00 12875.60 8469.60 USD Billion [+]
GDP From Transport 565.90 561.10 565.90 357.50 USD Billion [+]
GDP From Utilities 293.90 283.90 296.60 193.00 USD Billion [+]



United States GDP Growth Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.90 3.50 16.90 -10.00 1947 - 2016 percent Quarterly



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Norway 1.10 Dec/16
Bosnia and Herzegovina 1.00 Sep/16
Colombia 1.00 Dec/16
Mongolia 1.00 Dec/16
Sweden 1.00 Dec/16
Albania 0.90 Sep/16
Bulgaria 0.90 Dec/16
Jamaica 0.90 Sep/16
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Slovakia 0.80 Dec/16
Cyprus 0.70 Dec/16
Mexico 0.70 Dec/16
Spain 0.70 Dec/16
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Canada 0.60 Dec/16
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Moldova 0.60 Dec/16
Netherlands 0.60 Dec/16
Peru 0.60 Dec/16
Portugal 0.60 Dec/16
Argentina 0.50 Dec/16
Austria 0.50 Dec/16
Belgium 0.50 Dec/16
Ecuador 0.50 Sep/16
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Taiwan 0.45 Dec/16
Czech Republic 0.40 Dec/16
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Germany 0.40 Dec/16
Hungary 0.40 Dec/16
New Zealand 0.40 Dec/16
South Korea 0.40 Dec/16
Thailand 0.40 Dec/16
Cameroon 0.30 Mar/16
Japan 0.30 Dec/16
Denmark 0.20 Dec/16
Italy 0.20 Dec/16
Serbia 0.20 Dec/16
Tunisia 0.20 Dec/16
El Salvador 0.13 Sep/16
Kenya 0.10 Sep/16
Switzerland 0.10 Dec/16
Belize 0.04 Sep/16
Finland 0.00 Dec/16
Luxembourg -0.10 Sep/16
Uganda -0.20 Sep/16
Paraguay -0.30 Dec/16
South Africa -0.30 Dec/16
Chile -0.40 Dec/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Botswana -0.80 Sep/16
Brazil -0.90 Dec/16
Rwanda -1.10 Dec/16
Greece -1.20 Dec/16
Mozambique -1.70 Dec/16
Senegal -1.70 Sep/16
Indonesia -1.77 Dec/16
Dominican Republic -2.18 Sep/16
Turkey -2.70 Sep/16
Trinidad And Tobago -3.30 Sep/16