What is GDP?
GDP, gross domestic product, is the total value of goods and services an economy produces. US GDP is reported as the quarter's growth rate after inflation, at an annual pace.
Gross Domestic Product (GDP)
GDP, gross domestic product, is the total value of the goods and services produced in the US. The headline figure is the quarter's growth after inflation, stated at an annual pace, so 2% means the economy would grow 2% in a year if it kept that quarter's speed.
The latest GDP reading, released , was 3.4% annualized growth, against a 3.2% forecast and a 2.2% prior. The next one is due . History is on the GDP page.
The latest Atlanta Fed GDPNow reading, released , was 3.5% for the current quarter, against a 3.4% prior. History is on the Atlanta Fed GDPNow page.
Three estimates for every quarter
Each quarter's GDP is published three times: an advance estimate about a month after the quarter ends, then a second and a third estimate a month apart as more data comes in. The advance estimate moves markets most, because it is the first look. Between releases, nowcasts such as the Atlanta Fed's GDPNow track the current quarter as the monthly data arrive.
Why traders watch GDP
Growth sets how much room the Fed has. Strong growth with sticky inflation keeps rates higher for longer and tends to lift Treasury yields; a weak print brings cuts forward and rallies the front end. Most of a quarter's data is already out by release day, so the surprise against the forecast matters more than the level.
FAQ
What was the latest US GDP growth rate?
The latest estimate, with its release date and the forecast it was measured against, is on the GDP page. The Atlanta Fed's tracking estimate for the current quarter is on the GDPNow page.
Why is GDP released three times?
The advance estimate comes out about a month after the quarter ends, before all the source data is in. The second and third estimates follow a month apart and revise it as the missing data arrives.