The US economy grew by an annualized 3.1 percent in the first quarter of 2019, unrevised from the second estimate issued last month and following a 2.2 percent expansion in the previous three-month period. Upward revisions to nonresidential fixed investment, exports, state and local government spending, and residential fixed investment were offset by downward revisions to personal consumption expenditures (PCE) and inventory investment and an upward revision to imports. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2019, reaching an all time high of 16.70 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 expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in the United States to stand at 2.00 in 12 months time. In the long-term, the United States GDP Growth Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.

United States GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-28 12:30 PM GDP Growth Rate QoQ Final Q4 2.2% 3.4% 2.4% 2.7%
2019-04-26 12:30 PM GDP Growth Rate QoQ Adv Q1 3.2% 2.2% 2% 2%
2019-05-30 12:30 PM GDP Growth Rate QoQ 2nd Est Q1 3.1% 2.2% 3.1% 3.2%
2019-06-27 12:30 PM GDP Growth Rate QoQ Final Q1 3.1% 2.2% 3.1% 3.1%
2019-07-26 12:30 PM GDP Growth Rate QoQ Adv Q2 3.1% 1.8% 1.7%
2019-08-29 12:30 PM GDP Growth Rate QoQ 2nd Est Q2 3.1% 1.7%
2019-09-26 12:30 PM GDP Growth Rate QoQ Final Q2 3.1% 1.7%



US Q1 GDP Growth Confirmed at 3.1%

The US economy grew by an annualized 3.1 percent in the first quarter of 2019, unrevised from the second estimate and following a 2.2 percent expansion in the previous three-month period. Nonresidential and residential fixed investment, exports and imports, and state and local government spending were revised higher while personal consumption expenditures and inventory investment came in lower than initially reported.

Positive contributions came from exports (0.65 percentage points), personal consumption expenditures (0.62 percentage points), nonresidential fixed investment (0.61 percentage points), private inventory investment (0.55 percentage points), and state and local government spending (0.48 percentage points). Imports, which are a subtraction in the calculation of GDP, decreased, posting a positive contribution of 0.30 percentage points. These contributions were partly offset by a decrease in residential fixed investment (-0.08 percentage points).

State and local government spending surged 4.6 percent during the first quarter, reversing a 1.3 percent contraction in the previous three-month period. In addition, private inventory investment accelerated and exports jumped 5.4 percent (vs 1.8 percent in Q4), boosted by sales of goods (6.0 percent vs 1.2 percent) and services (4.4 percent vs 2.7 percent); while imports dropped 1.9 percent (vs 2.0 percent in Q4) due to lower purchases of goods (-3.3 percent vs 0.5 percent).

These movements were partly offset by a deceleration in PCE (0.9 percent vs 2.5 percent).

The price index for gross domestic purchases increased 0.8 percent in the first quarter, compared with an increase of 1.7 percent in the fourth quarter. The PCE price index increased 0.5 percent, compared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index increased 1.2 percent, compared with an increase of 1.8 percent.


BEA | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/27/2019 12:54:54 PM


News

US Q1 GDP Growth Revised Down to 3.1%
The US economy advanced an annualized 3.1 percent in the first quarter of 2019, slightly below earlier figures of a 3.2 percent expansion and in line with market expectations, the second estimate showed. It follows a 2.2 percent growth in the previous three-month period.
Published on 2019-05-30

US Q1 GDP Growth Beats Forecasts
The US economy grew by an annualized 3.2 percent in the first quarter of 2019, easily beating market expectations of 2 percent and following a 2.2 percent expansion in the previous three-month period.
Published on 2019-04-26

US GDP Growth Revised Down to 2.2%
The US economy advanced an annualized 2.2 percent on quarter in the fourth quarter of 2018, well below a 2.6 percent growth in the previous estimate and 3.4 percent in the previous period. It compares with market expectations of 2.4 percent. Personal consumption expenditure and nonresidential fixed investment rose less than expected and public spending declined. On the other hand, the drag from net trade was smaller than anticipated as exports rose more and imports increased at a softer pace. Considering full 2018, the economy advanced 2.9 percent, the most since 2015, and above 2.2 percent in 2017.
Published on 2019-03-28

US GDP Growth Slows Less Than Expected
The US economy advanced an annualized 2.6 percent on quarter in the fourth quarter of 2018, beating market expectations of a 2.4 percent growth, the initial estimate showed. Fixed investment rose faster, consumer spending remained robust and the drag from net trade was smaller. Considering full 2018, the economy advanced 2.9 percent, above 2.2 percent in 2017 and the highest growth rate since 2015.
Published on 2019-02-28



United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.10 2.20 16.70 -10.00 percent [+]
GDP Annual Growth Rate 3.20 3.00 13.40 -3.90 percent [+]
GDP 20494.10 19485.39 20494.10 543.30 USD Billion [+]
GDP Constant Prices 18910.30 18765.26 18910.30 2184.87 USD Billion [+]
Gross National Product 19156.23 19007.61 19156.23 2199.23 USD Billion [+]
Gross Fixed Capital Formation 3382.58 3357.50 3382.58 1215.60 USD Billion [+]
GDP per capita 54541.70 53356.20 54541.70 17550.60 USD [+]
GDP per capita PPP 55681.05 54470.80 55681.05 36284.58 USD [+]
GDP From Agriculture 212.40 213.70 236.10 168.40 USD Billion [+]
GDP From Construction 642.80 642.70 794.50 531.70 USD Billion [+]
GDP From Manufacturing 2178.20 2154.90 2178.20 1798.60 USD Billion [+]
GDP From Mining 494.00 465.80 494.00 241.80 USD Billion [+]
GDP From Public Administration 2173.60 2179.80 2188.00 2089.50 USD Billion [+]
GDP From Services 12995.40 12887.20 12995.40 9734.70 USD Billion [+]
GDP From Transport 542.40 543.50 545.70 429.60 USD Billion [+]
GDP From Utilities 282.40 281.30 291.30 217.20 USD Billion [+]


United States GDP Growth Rate

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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 2.20 16.70 -10.00 1947 - 2019 percent Quarterly




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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