The New York City skyline in the United States

GDP in United States

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


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

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