United States GDP Annual Growth Rate

The Gross Domestic Product (GDP) in the United States expanded 1.80 percent in the first quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in the United States is reported by the Bureau of Economic Analysis. Historically, from 1948 until 2013, the United States GDP Annual Growth Rate averaged 3.21 Percent reaching an all time high of 13.40 Percent in December of 1950 and a record low of -4.60 Percent in June of 2009. The United States is the world’s largest economy. Yet, in the last two decades, like in the case of many other developed nations, its growth rates have been decreasing. If in the 50’s and 60’s the average growth rate was above 4 percent, in the 70’s and 80’s dropped to around 3 percent. In the last ten years, the average rate has been below 2 percent and since the second quarter of 2000 has never reached the 5 percent level. With tumbling GDP growth rates, the growth of personal disposable income has been also declining. In the 70’s and 80’s personal disposable income for the average Americans was rising 10 percent a year. From 1990 to 2008, income growth rate had dropped to average 5.8 percent. And since the recession in 2009, when it actually declined, has been growing an average rate of 3.6 percent. This page includes a chart with historical data for the United States GDP Annual Growth Rate.