The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
March 26, 2020US GDP 2019 Q4 & ANNUAL (THIRD ESTIMATE) 
The US economy grew 2.1 per cent (seasonally adjusted annualized rate, chained 2012 dollars) in Q4 2019, unrevised from the second estimate published by the US Bureau of Economic Analysis. Fourth quarter growth was the same as the pace observed in the third quarter, reflecting gains in personal consumer expenditure, government spending, exports and residential investment as well as a decline in imports. There were partially offsetting declines from inventory accumulation and non-residential investment.
The third estimates for Q4 2019 reflect upward revisions to personal consumer expenditure, residential investment, and state and local government spending. There were offsetting downward revisions to federal government spending and non-residential fixed investment as well as an upward revision to imports (which reduces GDP).
US nominal GDP growth (including the impacts of rising prices) was 3.5 per cent in Q4, unrevised from the second estimate published by the US Bureau of Economic Analysis.
ANNUAL 2019
US real GDP increased by 2.3 per cent in 2019, slower than the pace of 2.9 per cent set in 2018. Contributions to growth came from personal consumer expenditure (+2.6 per cent in real terms, more from goods than from services), non-residential investment (+2.1 per cent on rising machinery/equipment and intellectual property), government spending (+2.3 per cent, more from Federal than state/local) and private inventory investment. Exports were little changed in 2019. There were offsetting declines in residential investment (-1.5 per cent) as well as rising imports (+1.0 per cent).
US nominal GDP increased by 4.1 per cent in 2019.
Source: US Bureau of Economic Analysis
<--- Return to Archive
