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United States GDP Growth Rate
Last Release
Jun 2020
Actual
-31.7 %
Forecast
-31.7 %
Previous
-5 %
Frequency
Quarterly
Units In
%
Next Release
Sep 30, 2020
Time to Release
3 Days 17 Hours
Highest | Lowest | Average | Date Range | Source |
16.7 % Mar 1950 | -31.7 % Jun 2020 | 3.06 % | 1947 - 2020 | U.S. Bureau of Economic Analysis |
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.
Latest Updates
The US economy shrank by an annualized 31.7 percent in the second quarter of 2020, lower than a 32.9 percent plunge in the advance estimate and compared to market forecasts of a 32.5 percent fall. Still, it is the biggest contraction ever, pushing the economy into a recession as the coronavirus pandemic forced many businesses including restaurants, cafes, stores and factories to close and people to stay at home, hurting consumer and business spending. Private inventory investment and personal consumption expenditures (PCE) decreased less than previously estimated.
United States GDP Growth Rate History
Last 12 readings
Latest Releases and Calendar Events
News
All News| DATE | TIME | TITLE |
|---|---|---|
| Aug 27, 2020 | 12:53 | US GDP Contraction Revised Lower |
| Jul 30, 2020 | 13:40 | US Economy Shrinks at Record 32.9% |
| Jun 25, 2020 | 13:06 | US Economy Shrinks 5% in Q1 |
| May 28, 2020 | 13:31 | US GDP Contracts More than Expected |
| Apr 29, 2020 | 15:42 | US GDP Contracts Most Since Great Recession |
| Mar 26, 2020 | 14:16 | US GDP Growth Steady at 2.1% |
| Feb 27, 2020 | 14:10 | US GDP Growth Unrevised at 2.1% |
Calendar
ECONOMIC CALENDAR| DATE | TIME | EVENT | Actual |
|---|---|---|---|
| Aug 27, 2020 | 12:30 | GDP Growth Rate QoQ 2nd Est | -31.7 % |
| Jul 30, 2020 | 12:30 | GDP Growth Rate QoQ Adv | -32.9 % |
| Jun 25, 2020 | 12:30 | GDP Growth Rate QoQ Final | -5 % |
| May 28, 2020 | 12:30 | GDP Growth Rate QoQ 2nd Est | -5 % |
| Apr 29, 2020 | 12:30 | GDP Growth Rate QoQ Adv | -4.8 % |
| Mar 26, 2020 | 12:30 | GDP Growth Rate QoQ Final | 2.1 % |
| Feb 27, 2020 | 13:30 | GDP Growth Rate QoQ 2nd Est | 2.1 % |
A Look at the Markets
Educational Pieces on Marco Indicators
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United States gdp Indicators
All United States indicatorsIndicator | Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|---|
| GDP | 21,427.7 Dec 2019 | 20,580.22 Dec 2018 | 543.3 Dec 1960 | 21,427.7 Dec 2019 | USD Billion | Yearly | 1960 - 2019 |
| GDP Annual Growth Rate | -9.1 Jun 2020 | 0.3 Mar 2020 | -9.1 Jun 2020 | 13.4 Dec 1950 | % | Quarterly | 1948 - 2020 |
| GDP Constant Prices | 17,282.2 Jun 2020 | 19,010.85 Mar 2020 | 2,184.87 Mar 1950 | 19,221.97 Dec 2019 | USD Billion | Quarterly | 1950 - 2020 |
| GDP From Agriculture | 253.9 Mar 2020 | 244.9 Dec 2019 | 168.4 Sep 2007 | 253.9 Mar 2020 | USD Billion | Quarterly | 2005 - 2020 |
| GDP From Construction | 655.1 Mar 2020 | 653.8 Dec 2019 | 531.7 Mar 2011 | 794.5 Mar 2005 | USD Billion | Quarterly | 2005 - 2020 |
| GDP From Manufacturing | 2,158.1 Mar 2020 | 2,185.1 Dec 2019 | 1,798.6 Mar 2009 | 2,190.4 Sep 2019 | USD Billion | Quarterly | 2005 - 2020 |
GDP Growth Rate across North America
GDP Growth Rate global viewCountry | Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|---|
| Canada | -11.5 Jun 2020 | -2.1 Mar 2020 | -11.5 Jun 2020 | 3.1 Mar 1965 | % | Quarterly | 1961 - 2020 |
| Mexico | -17.1 Jun 2020 | -1.2 Mar 2020 | -17.1 Jun 2020 | 3.2 Sep 2009 | % | Quarterly | 1993 - 2020 |
| United States | -31.7 Jun 2020 | -5 Mar 2020 | -31.7 Jun 2020 | 16.7 Mar 1950 | % | Quarterly | 1947 - 2020 |
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