The US economy expanded by 5.9% in 2021, higher than initial estimates of a 5.7% rise. It is the strongest growth rate since 1984 and compared with a record 2.8% percent contraction in 2020. The 2020 drop was also revised from an initial 3.4% contraction, as the pandemic recession was not as bad as initially expected. source: U.S. Bureau of Economic Analysis

Full Year GDP Growth in the United States averaged 3.17 percent from 1950 until 2021, reaching an all time high of 8.70 percent in 1950 and a record low of -2.80 percent in 2020. This page includes a chart with historical data for the United States Full Year GDP Growth. United States Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

Full Year GDP Growth in the United States is expected to reach 1.70 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Full Year GDP Growth is projected to trend around 0.50 percent in 2023 and 1.10 percent in 2024, according to our econometric models.

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United States Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate 2.90 -0.60 percent Sep 2022
GDP Annual Growth Rate 1.90 1.80 percent Sep 2022
GDP 22996.10 20893.74 USD Billion Dec 2021
GDP Constant Prices 20039.40 19895.30 USD Billion Sep 2022

United States Full Year GDP Growth
In the US, on the expenditure side, personal consumption expenditures account 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 subtract 3 percent from the total GDP value.
Actual Previous Highest Lowest Dates Unit Frequency
5.90 -2.80 8.70 -2.80 1950 - 2021 percent Yearly