The Gross Domestic Product (GDP) of the United States is a measure of the country’s economic activity and is one of the most important indicators of the country’s economic health. According to the U.S. Bureau of Economic Analysis (BEA), the real GDP of the United States increased at an annual rate of 4.9 percent in the third quarter of 2023, according to the third estimate. In the second quarter, real GDP increased 2.1 percent. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment. Profits increased 3.4 percent at a quarterly rate in the third quarter after increasing 0.2 percent in the second quarter. In the third quarter, the value added of private goods-producing industries increased 10.2 percent, private services-producing industries increased 4.1 percent, and government increased 2.0 percent. Overall, 14 of 22 industry groups contributed to the third-quarter increase in real GDP .
The nominal GDP of the United States is another measure of the country’s economic activity. According to CEIC Data, the nominal GDP in the United States is updated quarterly and was $6,621.6 billion in March 2023, which is an all-time high. The data is available from March 1947 to March 2023, with an average number of $1,057.5 billion. The data reached a record low of $60.8 billion in March 1947 .
The GDP growth rate of the United States is another important indicator of the country’s economic health. According to Trading Economics, the US economy expanded an annualized 4.9% in the third quarter of 2023, the most since the last quarter of 2021, above market forecasts of 4.3% and a 2.1% expansion in Q2, the advance estimate showed .
In summary, the real GDP of the United States increased at an annual rate of 4.9 percent in the third quarter of 2023, according to the third estimate. The nominal GDP of the United States was $6,621.6 billion in March 2023, which is an all-time high. The US economy expanded an annualized 4.9% in the third quarter of 2023, the most since the last quarter of 2021, above market forecasts of 4.3% and a 2.1% expansion in Q2, the advance estimate showed ..