United States GDP Annual Growth Rate
Summary
Forecast
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The US economy expanded 3% year-on-year in the third quarter of 2023, slightly higher than 2.9% in the advance estimate, and above 2.4% in Q2.GDP Annual Growth Rate in the United States averaged 3.15 percent from 1948 until 2023, reaching an all time high of 13.40 percent in the fourth quarter of 1950 and a record low of -7.50 percent in the second quarter of 2020.
source:
U.S.Bureau of Economic Analysis
The Gross Domestic Product (GDP) in the United States expanded 2.90 percent in the third quarter of 2023 over the same quarter of the previous year.
The Gross Domestic Product (GDP) in the United States expanded 2.90 percent in the third quarter of 2023 over the same quarter of the previous year.GDP Annual Growth Rate in the United States is expected to be 2.40 In the long-term, the United States GDP Annual Growth Rate is projected to trend around 2.20 percent in 2024 and 1.10 percent in 2025, according to our econometric models.
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Related
Last
Previous
Unit
Reference
GDP Growth Rate
5.20
2.10
percent
Sep 2023
GDP Annual Growth Rate
3.00
2.40
percent
Sep 2023
Government Spending
3840.90
3789.80
USD Billion
Sep 2023
GDP Constant Prices
22506.40
22225.40
USD Billion
Sep 2023
Consumer Spending
15479.50
15343.60
USD Billion
Sep 2023
Gross National Product
22660.58
22384.63
USD Billion
Sep 2023
Gross Fixed Capital Formation
3979.00
3955.90
USD Billion
Sep 2023
Changes in Inventories
83.89
14.93
USD Billion
Sep 2023
Full Year GDP Growth
1.90
5.80
percent
Dec 2022
GDP from Utilities
268.30
271.00
USD Billion
Mar 2023
GDP from Transport
561.90
557.30
USD Billion
Mar 2023
GDP from Services
14422.80
14331.40
USD Billion
Mar 2023
GDP from Public Administration
2273.00
2258.00
USD Billion
Mar 2023
GDP from Mining
409.70
407.80
USD Billion
Mar 2023
GDP from Manufacturing
2252.30
2283.40
USD Billion
Mar 2023
GDP from Construction
570.10
568.40
USD Billion
Mar 2023
GDP from Agriculture
219.40
201.00
USD Billion
Mar 2023
United States GDP Annual Growth Rate
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.
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
3.00
2.40
13.40
-7.50
1948 – 2023
percent
Quarterly
Compare
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