The Gross Domestic
Product (GDP) in the United States expanded at an annual rate of 2.60 percent
in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in the
United States is reported by the U.S. Bureau of Economic Analysis. GDP Growth Rate
in the United States averaged 3.24 Percent from 1947 until 2013, reaching an
all time high of 17.20 Percent in the first quarter of 1950 and a record low of
-10.40 Percent in the first quarter of 1958. The United States has one of the
most diversified and most technologically advanced economies in the world.
Finance, insurance, real estate, rental, leasing, health care, social
assistance, professional, business and educational services account for more
than 40 percent of GDP. Retail and wholesale trade creates another 12 percent
of the wealth. The government related services fuel 13 percent of GDP.
Utilities, transportation and warehousing and information account for 10
percent of the GDP. Manufacturing, mining, and construction constitute 17
percent of the output. Agriculture accounts for only 1.5 percent of the GDP,
yet due to use of advance technologies, the United States is a net exporter of
food. This page provides - United States Economy Expands 3.2% in Q4 - actual
values, historical data, forecast, chart, statistics, economic calendar and
news.
US GDP Growth Revised Up to 2.6% in Q4
U.S. economy grew more rapidly in the fourth quarter than previously estimated, according to the "third" estimate released by the Bureau of Economic Analysis. While personal consumption expenditures climbed by the most in three years, private investment in inventories and in intellectual property products were revised down.
The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.4 percent.
The increase in real GDP in the fourth quarter primarily reflected positive contributions from PCE, exports, and nonresidential fixed investment that were partly offset by negative contributions from federal government spending and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. The deceleration in real GDP growth in the fourth quarter reflected a downturn in private inventory investment, a larger decrease in federal government spending, a downturn in residential fixed investment, and a deceleration in state and local government spending that were partly offset by accelerations in PCE and in exports, a deceleration in imports, and an acceleration in nonresidential fixed investment. 3/27/2014 12:40:05 PM RECENT RELEASES US GDP Growth Revised Down to 2.4% in Q4 Real gross domestic product in the United States increased at an annual rate of 2.4 percent in the fourth quarter of 2013 compared with the 3.2 percent gain issued last month as consumer spending and exports grew less than initially thought. Published on 2014-02-28 U.S. Economy Expands 3.2% in Q4 Real GDP in the United States grew at an annualised 3.2 percent pace in the fourth quarter of 2013, as consumer spending grew the most in three years. The "advance" estimate released by the Bureau of Economic Analysis matched the expectations. Published on 2014-01-30
GDP GROWTH RATE | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. |
