United States GDP
GDP picks up in the second quarter
GDP reading:
GDP growth sped up to 2.4% in seasonally adjusted annualized rate terms (SAAR) in the second quarter, from 2.0% in the first quarter. On an annual basis, economic growth accelerated to 2.6% in Q2, from the previous period’s 1.8% expansion. Q2’s reading marked the best result since Q1 2022. sdrfgdsgfdgbdffdsfd
Drivers:
Household spending growth waned to 1.6% SAAR in Q2 from a 4.2% expansion in Q1. Public spending growth, meanwhile, was the slowest since Q1 2023, expanding 2.6% (Q1: +5.0% SAAR). Fixed investment bounced back, growing 4.9% in Q2, contrasting the 0.4% decrease in the prior quarter.
Exports of goods and services contracted 10.8% in Q2, marking the worst reading since Q2 2020 (Q1: +7.8% SAAR). In addition, imports of goods and services deteriorated, contracting 7.8% in Q2 (Q1: +2.0% SAAR), marking the worst reading since Q2 2020.
GDP outlook:
United States GDP Chart
This chart displays Economic Growth (GDP, annual variation in %) for United States from 2013 to 2022.
United States GDP Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 3.0 | 2.5 | -2.2 | 5.8 | 1.9 |
| GDP (USD bn) | 20,657 | 21,521 | 21,323 | 23,594 | 25,744 |
| Economic Growth (Nominal GDP, ann. var. %) | 5.3 | 4.2 | -0.9 | 10.7 | 9.1 |