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

The US GDP expanded by 2.1% in 2022, slowing from a 5.9% expansion in 2021 as the economy returned to a more normal pace of growth after pandemic-related disruptions in the previous two years. In 2022, the positive contributions came from consumer spending, exports, private inventory investment, and nonresidential fixed investment while decreases were reported in residential fixed investment and federal government spending. Imports increased. source: U.S. Bureau of Economic Analysis

Full Year GDP Growth in the United States averaged 3.16 percent from 1950 until 2022, reaching an all time high of 8.70 percent in 1950 and a record low of -2.80 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 February of 2023.

Full Year GDP Growth in the United States is expected to reach 1.30 percent by the end of 2023, 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 1.10 percent in 2024 and 1.90 percent in 2025, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	2.90	3.20	percent	Dec 2022
GDP Annual Growth Rate	1.00	1.90	percent	Dec 2022
GDP	23315.08	21060.47	USD Billion	Dec 2021
GDP Constant Prices	20198.10	20054.70	USD Billion	Dec 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.