Name: United States Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

The US economy expanded by 5.7 percent in 2021, the strongest growth rate since 1984 and compared with a record 3.4 percent contraction in 2020, reflecting increases in all major subcomponents, led by PCE, nonresidential fixed investment, exports, residential fixed investment, and private inventory investment. source: U.S. Bureau of Economic Analysis

Full Year GDP Growth in the United States averaged 3.13 percent from 1950 until 2020, reaching an all time high of 8.70 percent in 1950 and a record low of -3.40 percent in 2020. This page includes a chart with historical data for the United States Full Year GDP Growth. United States Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

Full Year GDP Growth in the United States is expected to reach 3.50 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Full Year GDP Growth is projected to trend around 2.50 percent in 2023 and 3.00 percent in 2024, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	-0.60	-1.60	percent	Jun 2022
GDP Annual Growth Rate	1.70	3.50	percent	Jun 2022
GDP	22996.10	20893.74	USD Billion	Dec 2021
GDP Constant Prices	19699.50	19727.90	USD Billion	Jun 2022

United States Full Year GDP Growth

In the US, on the expenditure side, personal consumption expenditures account 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 subtract 3 percent from the total GDP value.