United States GDP Growth Rate 1947-2016
The United States economy expanded an annualized 1.4 percent in the second quarter of 2016, more than 1.1 percent reported in the second estimate and much better than 0.8 percent reported in the first three months of 2016. With the third estimate, the general picture of economic growth remains the same. The most notable change from the second to third estimate is that nonresidential fixed investment increased in the second quarter; in the previous estimate, nonresidential fixed investment decreased. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment. These were partly offset by negative contributions from private inventory investment, residential fixed investment, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2016, reaching an all time high of 16.90 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 reported by the U.S. Bureau of Economic Analysis.