The US economy grew by an annualized 6.4 percent in the first quarter, matching the second estimate and following a 4.3 percent expansion in the previous three-month period. Upward revisions to nonresidential fixed investment, private inventory investment, and exports were offset by an upward revision to imports. On the production side, private goods-producing industries increased 5.4 percent, led by led by computer and electronic products, fabricated metal products, and machinery. Private services-producing industries jumped 7.7 percent, led by data processing, internet publishing, and other information services and government edged up 0.2 percent. Analysts see the economy expanding around 9% in Q2 as the recovery continues although rising price pressures are already weighing on some sectors, namely the housing market. source: U.S. Bureau of Economic Analysis
GDP Growth Rate in the United States averaged 3.18 percent from 1947 until 2021, reaching an all time high of 33.40 percent in the third quarter of 2020 and a record low of -31.40 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
GDP Growth Rate in the United States is expected to be 7.00 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 1.70 percent in 2022 and 1.90 percent in 2023, according to our econometric models.