United States GDP
GDP picks up in the second quarter
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.
United States GDP Chart
United States GDP Data
|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|