United States GDP Growth Rate

Last Release

Dec 31, 2024

Actual

2.3

Units In

2.8

Frequency

Quarterly

Next Release

Jun 26, 2025

Time to Release

2 Months 28 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
33.8 Sep 2020	-31.2 Jun 2020	3.15 %	1947-2024	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 expanded an annualized 2.4% in Q4 2024, slightly higher than 2.3% in the previous estimates, primarily reflecting a downward revision to imports. Exports fell slightly less (-0.2% vs -0.5%) and imports declined more than initially anticipated (-1.9% vs -1.2%), leaving the contribution from net trade positive at 0.26 pp (vs 0.12 pp). Government expenditure also rose more (3.1% vs 2.9%) and fixed investment contracted less (-1.1% vs -1.4%), due to equipment (-8.7% vs -9%) while investment in intellectual property products shrank (-0.5% vs 0%). Residential investment rose at a faster pace than initially anticipated (5.5% vs 5.4%). Meanwhile, personal consumption remained the main driver of growth, increasing 4%, slightly less than 4.2% in the previous estimate, but remaining the biggest gain since Q1 2023. Spending rose for both goods (6.2% vs 6.1%) and services (3% vs 3.3%). Private inventories cut 0.84 pp from the growth, more than 0.81 pp in the previous estimate.