The US economy grew by an annualized 2.1% in Q3, unchanged from the second estimate and following a 2% expansion in the previous three-month period. The increase in real GDP in the third quarter reflected positive contributions from PCE, federal government spending, residential investment, exports, and state and local government spending that were partly offset by negative contributions from nonresidential fixed investment and private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

GDP Growth Rate in the United States averaged 3.21 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. 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. source: U.S. Bureau of Economic Analysis

GDP Growth Rate in the United States is expected to be 2.10 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 1.80 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.


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United States GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.10 2.00 16.70 -10.00 1947 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-09-26 12:30 PM GDP Growth Rate QoQ Final Q2 2% 3.1% 2% 2%
2019-10-30 12:30 PM GDP Growth Rate QoQ Adv Q3 1.9% 2% 1.6% 1.9%
2019-11-27 01:30 PM GDP Growth Rate QoQ 2nd Est Q3 2.1% 2% 1.9% 1.9%
2019-12-20 01:30 PM GDP Growth Rate QoQ Final Q3 2.1% 2% 2.1% 2.1%
2020-01-30 01:30 PM GDP Growth Rate QoQ Adv Q4 2.1% 2.1% 2.1%


News Stream
2019-11-27
US GDP Growth Revised Higher
The US economy grew by an annualized 2.1% in Q3, compared to an advance estimate of 1.9% and following a 2% expansion in the previous three-month period. Private inventories were revised higher and business investment shrank less than expected. On the other hand, the rise in consumer spending, the main engine of growth, was left unchanged and the drag from net exports was bigger than anticipated.

2019-10-30
US GDP Growth Slows Less than Expected
The US economy grew by an annualized 1.9 percent in the third quarter of 2019, beating market expectations of 1.6 percent and following a 2.0 percent expansion in the previous three-month period, the advance estimate showed. Household consumption, government spending and exports were the main drivers of growth while business investment fell and imports made a negative contribution to GDP.

2019-09-26
US Q2 GDP Growth Confirmed at 2%
The US economy grew by an annualized 2 percent in the second quarter of 2019, unrevised from the second estimate and following a 3.1 percent expansion in the previous three-month period. Downward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports. Imports, which are a subtraction in the calculation of GDP, were revised down.

2019-08-29
US Q2 GDP Growth Revised Lower
The US economy grew by an annualized 2 percent in the second quarter of 2019, slightly below a preliminary estimate of 2.1 percent and following a 3.1 percent expansion in the previous three-month period, the second estimate showed. The revision primarily reflected downward revisions to state and local government spending, exports, private inventory investment, and residential investment that were partly offset by an upward revision to personal consumption expenditures (PCE).

2019-07-26
US GDP Growth Slows Less than Forecast in Q2
The US economy grew by an annualized 2.1 percent in the second quarter of 2019, beating market expectations of 1.8 percent and following a 3.1 percent expansion in the previous three-month period, the advance estimate showed. Household consumption and government spending increased at faster rates, while a slump in exports and a smaller inventory build made a negative contribution to growth.

2019-06-27
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.


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.

United States GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.10 2.00 16.70 -10.00 percent [+]
GDP Annual Growth Rate 2.10 2.30 13.40 -3.90 percent [+]
GDP 20494.10 19485.39 20494.10 543.30 USD Billion [+]
GDP Constant Prices 19121.11 19021.86 19121.11 2184.87 USD Billion [+]
Gross National Product 19409.89 19324.33 19409.89 2199.23 USD Billion [+]
Gross Fixed Capital Formation 3330.47 3337.40 3349.44 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 243.10 238.50 243.10 168.40 USD Billion [+]
GDP From Construction 651.40 654.80 794.50 531.70 USD Billion [+]
GDP From Manufacturing 2190.40 2167.30 2190.40 1798.60 USD Billion [+]
GDP From Mining 548.70 538.60 548.70 241.80 USD Billion [+]
GDP From Public Administration 2212.00 2211.80 2212.00 2089.50 USD Billion [+]
GDP From Services 13201.10 13131.50 13201.10 9734.70 USD Billion [+]
GDP From Transport 559.00 560.40 560.40 429.60 USD Billion [+]
GDP From Utilities 282.60 294.60 294.60 217.20 USD Billion [+]