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February 28, 2024

2023Q4 (Second Estimate) Comparisons -- Percent Change from Preceding Period in
Real Gross Domestic Product and Related Measures
[Percent] Seasonally adjusted at annual rates

Gross domestic product (GDP)
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Equipment
Intellectual property products
Residential
Change in private inventories
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
Government consumption expenditures and gross investment
Federal
National defense
Nondefense
State and local
Addenda:
Final sales of domestic product
Gross domestic purchases
Final sales to domestic purchasers
Final sales to private domestic purchasers
Gross domestic income (GDI)
Average of GDP and GDI
Gross national product (GNP)
Disposable personal income
Current-dollar measures:
GDP
Final sales of domestic product
Gross domestic purchases
Final sales to domestic purchasers
Final sales to private domestic purchasers
GDI
Average of GDP and GDI
GNP
Disposable personal income
Chain-type price measures:
Gross domestic purchases
Gross domestic purchases excluding food and energy
GDP
GDP excluding food and energy
GDP implicit price deflator
PCE
PCE excluding food and energy
Market-based PCE
Market-based PCE excluding food and energy
Source: U.S. Bureau of Economic Analysis

2023Q4 %
change
3.2
3.0
3.2
3.2
3.3
2.8
0.9
2.5
2.4
7.5
-1.7
3.3
2.9
.....................
.....................
6.4
4.8
9.6
2.7
1.3
9.1
4.2
2.3
0.4
4.7
5.4

Last period with
equal value
2017Q3
3.2
1988Q2
3.0
2020Q4
3.2
1978Q4
3.2
2003Q1
3.3
2022Q3
2.8
2015Q3
0.9
............... ...............
............... ...............
............... ...............
1970Q2
-1.7
1972Q3
3.3
2004Q3
2.9
............... ...............
............... ...............
............... ...............
2004Q3
4.8
1994Q4
9.6
............... ...............
1967Q1
1.3
............... ...............
............... ...............
............... ...............
1979Q1
0.4
............... ...............
1987Q4
5.4

3.5
2.8
3.1
2.9
.....................
.....................
.....................
2.2

2005Q3
3.5 2023Q3
3.6 2023Q2
2.1
2015Q2
2.8 2023Q3
4.7 2023Q2
2.0
1995Q3
3.1 2023Q3
3.5 2023Q2
2.0
1991Q2
2.9 2023Q3
3.0 2023Q2
1.7
............... ............... ............... ............... ............... ...............
............... ............... ............... ............... ............... ...............
............... ............... ............... ............... ............... ...............
2022Q4
2.2 2023Q2
3.3 2023Q3
0.5

4.9
5.2
4.8
5.1
4.8
.....................
.....................
.....................
4.0

2015Q2
4.9 2023Q3
8.3 2023Q2
3.8
2017Q1
5.2 2023Q3
7.0 2023Q2
3.9
1954Q3
4.8 2023Q3
7.7 2023Q2
3.4
2017Q1
5.1 2023Q3
6.4 2023Q2
3.4
2013Q1
4.8 2023Q3
5.5 2023Q2
3.7
............... ............... ............... ............... ............... ...............
............... ............... ............... ............... ............... ...............
............... ............... ............... ............... ............... ...............
2010Q1
4.0 2023Q2
5.8 2023Q3
3.1

1.9
2.1
1.6
2.4
1.7
1.8
2.1
2.0
2.3

2016Q4
2023Q2
2018Q4
2017Q4
2023Q2
2016Q4
2008Q3
2019Q2
1995Q2

1.9
2.1
1.6
2.4
1.7
1.8
2.1
2.0
2.3

Last period with
larger value
2023Q3
4.9
2023Q3
3.1
2023Q3
4.9
2023Q3
6.7
2023Q3
3.9
2023Q1
3.1
2023Q3
10.0
2023Q3
2.6
2023Q2
7.4
2023Q3
11.2
2023Q2
7.7
2023Q1
3.8
2023Q3
6.7
............... ...............
............... ...............
2023Q1
6.8
2023Q3
7.7
2022Q2
13.9
2023Q3
4.2
2023Q3
5.9
2022Q2
14.2
2023Q3
5.8
2023Q3
7.1
2023Q3
8.4
2023Q3
5.5
2019Q2
6.5

2023Q3
2023Q3
2023Q3
2023Q3
2023Q3
2023Q3
2023Q2
2023Q3
2023Q2

2.9
2.5
3.3
3.0
3.3
2.6
3.7
2.5
3.7

Last period with
smaller value
2023Q2
2.1
2023Q2
0.8
2023Q2
0.5
2023Q2
-0.3
2023Q2
0.9
2023Q3
2.2
2023Q1
-9.0
2022Q4
-5.4
2023Q3
1.4
2022Q4
6.5
2023Q3
-4.4
2023Q3
1.8
2023Q2
-2.2
............... ...............
............... ...............
2023Q3
5.4
2023Q2
-16.0
2023Q3
1.0
2023Q2
-7.6
2023Q2
-6.5
2023Q3
-2.8
2023Q2
3.3
2023Q2
1.1
2022Q3
-0.3
2023Q2
-0.4
2023Q3
5.0

2023Q2
2020Q2
2020Q2
2023Q2
2020Q2
2020Q2
2023Q3
2020Q4
2023Q3

1.4
-0.3
-1.4
2.3
-1.6
-1.7
2.0
1.4
1.9

February 28, 2024

2023Q4 (Second Estimate) Comparisons -- Contributions to Percent Change in Real Gross Domestic Product
2023Q4
contribution
Percent change at annual rate:
Gross domestic product
Percentage points at annual rates:
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Equipment
Intellectual property products
Residential
Change in private inventories
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
Government consumption expenditures and gross investment
Federal
National defense
Nondefense
State and local
Source: U.S. Bureau of Economic Analysis

Last period with
equal value

3.2 2017Q3
2.00
0.72
0.25
0.47
1.28
0.17
0.43
0.32
0.23
-0.08
0.18
0.11
-0.27
0.32
0.69
0.35
0.34
-0.37
-0.15
-0.22
0.73
0.15
0.02
0.13
0.58

...............
2013Q3
2011Q3
2005Q2
2006Q4
2012Q3
...............
2010Q1
2006Q3
2001Q4
2006Q1
2018Q2
...............
...............
2007Q2
2019Q1
...............
2007Q3
...............
2008Q3
2000Q2
2001Q3
1991Q2
2017Q4
2001Q1

Last period with
larger value

3.2 2023Q3
...............
0.72
0.25
0.47
1.28
0.17
...............
0.32
0.23
-0.08
0.18
0.11
...............
...............
0.69
0.35
...............
-0.37
...............
-0.22
0.73
0.15
0.02
0.13
0.58

2023Q3
2023Q3
2023Q3
2023Q3
2023Q1
2023Q3
2023Q3
2023Q2
2023Q3
2023Q2
2023Q1
2023Q3
2023Q3
2023Q1
2023Q1
2023Q3
2022Q2
2023Q2
2023Q2
2023Q3
2023Q3
2023Q3
2023Q3
2023Q3
2019Q2

Last period with
smaller value

4.9 2023Q2
2.11
1.09
0.53
0.56
1.40
1.74
0.46
0.98
0.33
0.38
0.20
0.26
1.27
0.58
0.76
0.55
0.46
1.13
0.78
0.08
0.99
0.45
0.30
0.15
0.70

2023Q2
2023Q2
2023Q2
2023Q2
2023Q3
2023Q1
2022Q4
2023Q3
2022Q4
2023Q3
2023Q3
2023Q2
2023Q1
2023Q3
2023Q3
2023Q2
2023Q3
2023Q3
2023Q3
2022Q2
2023Q2
2023Q2
2022Q3
2023Q2
2023Q3

2.1
0.55
0.11
-0.03
0.14
1.02
-1.69
-0.99
0.21
0.17
-0.22
0.10
-0.09
-2.22
0.03
0.59
-1.31
0.04
-0.56
-0.64
-0.35
0.57
0.07
-0.01
-0.01
0.53

February 28, 2024

2023 (Second Estimate) Comparisons -- Percent Change from Preceding Period in
Real Gross Domestic Product and Related Measures
[Percent]
2023 %
change
Gross domestic product (GDP)
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Equipment
Intellectual property products
Residential
Change in private inventories
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
Government consumption expenditures and gross investment
Federal
National defense
Nondefense
State and local
Addenda:
Final sales of domestic product
Gross domestic purchases
Final sales to domestic purchasers
Final sales to private domestic purchasers
Gross domestic income (GDI)
Average of GDP and GDI
Gross national product (GNP)
Disposable personal income
Current-dollar measures:
GDP
Final sales of domestic product
Gross domestic purchases
Final sales to domestic purchasers
Final sales to private domestic purchasers
GDI
Average of GDP and GDI
GNP
Disposable personal income
Chain-type price measures:
Gross domestic purchases
Gross domestic purchases excluding food and energy
GDP
GDP excluding food and energy
GDP implicit price deflator
PCE
PCE excluding food and energy
Market-based PCE
Market-based PCE excluding food and energy
Source: U.S. Bureau of Economic Analysis

Last period with
equal value
2.5

Last period with
larger value
2021

2.5

2019

2.2
2.0
4.2
0.9
2.3
-1.2
0.6
4.4
13.0
-0.3
4.4
-10.6
.....................
.....................
2.7
2.6
3.0
-1.6
-1.6
-1.5
4.0
4.2
3.4
5.2
3.9

...............
1967
...............
2011
...............
...............
1987
...............
...............
...............
...............
...............
...............
...............
...............
1941
...............
...............
1960
...............
...............
1980
...............
...............
1989

...............
2022
2.5
2020
-2.5
2.0
2021
11.3
2022
0.3
...............
2021
16.7
2022
-0.3
0.9
2021
8.5
2022
0.6
...............
2022
3.7
2020
-5.9
...............
2022
4.8
2020
-4.7
0.6
2022
1.3
2020
-2.1
...............
2022
5.2
2020
-4.7
...............
2012
13.3
2022
-2.1
...............
2022
5.2
2020
-10.1
...............
2022
9.1
2010
2.7
...............
2022
-9.0
2009
-21.7
............... ............... ............... ............... ...............
............... ............... ............... ............... ...............
...............
2022
7.0
2020
-13.1
2.6
2022
5.8
2020
-10.0
...............
2022
9.6
2020
-18.7
...............
2022
8.6
2020
-9.0
-1.6
2022
6.8
2020
-5.9
...............
2022
17.5
2020
-21.9
...............
2002
4.5
2022
-0.9
4.2
2020
6.1
2022
-2.8
...............
2019
5.3
2022
-2.8
...............
2021
5.9
2022
-2.9
3.9
2019
4.0
2022
0.2

2.9
1.9
2.2
1.9
.....................
.....................
.....................
4.2

2018
2016
1949
...............
...............
...............
...............
...............

2.9
2021
5.5
2022
1.3
1.9
2022
2.3
2020
-1.9
2.2
2021
6.6
2022
1.7
...............
2022
2.3
2020
-2.4
............... ............... ............... ............... ...............
............... ............... ............... ............... ...............
............... ............... ............... ............... ...............
...............
2020
6.4
2022
-5.9

6.3
6.7
5.4
5.8
5.6
.....................
.....................
.....................
8.1

1999
...............
2018
1997
...............
...............
...............
...............
1969

6.3
2022
9.1
2020
-0.9
...............
2022
8.5
2020
-0.4
5.4
2022
9.3
2020
-0.7
5.8
2022
8.7
2020
-0.2
...............
2022
9.2
2020
-1.3
............... ............... ............... ............... ...............
............... ............... ............... ............... ...............
............... ............... ............... ............... ...............
8.1
1988
9.2
2022
0.2

3.4
3.6
3.6
4.0
3.6
3.7
4.1
3.6
4.0

1984
...............
1984
...............
1984
...............
1990
2021
...............

3.4
...............
3.6
...............
3.6
...............
4.1
3.6
...............

2022
2022
2022
2022
2022
2022
2022
2022
2022

5.8

Last period with
smaller value

6.8
6.1
7.1
6.2
7.0
6.5
5.2
6.5
5.0

2022

2020
2020
2020
2020
2020
2020
2021
2020
2021

1.9

1.3
1.5
1.3
1.5
1.3
1.1
3.6
1.0
2.9

February 28, 2024

2023 (Second Estimate) Comparisons -- Contributions to Percent Change in Real Gross Domestic Product
2023
contribution
Percent change at annual rate:
Gross domestic product
Percentage points at annual rates:
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Equipment
Intellectual property products
Residential
Change in private inventories
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
Government consumption expenditures and gross investment
Federal
National defense
Nondefense
State and local
Source: U.S. Bureau of Economic Analysis

Last period with
equal value

Last period with
larger value

Last period with
smaller value

2.5

2019

2.5

2021

5.8

2022

1.9

1.49
0.46
0.34
0.12
1.03
-0.23
0.10
0.59
0.36
-0.02
0.24
-0.48
-0.33
0.57
0.32
0.22
0.11
0.25
0.21
0.04
0.69
0.27
0.12
0.14
0.43

...............
...............
...............
...............
1953
...............
1961
1963
...............
...............
2011
...............
...............
...............
...............
1993
1979
...............
...............
1971
...............
...............
...............
2008
2019

...............
...............
...............
...............
1.03
...............
0.10
0.59
...............
...............
0.24
...............
...............
...............
...............
0.22
0.11
...............
...............
0.04
...............
...............
...............
0.14
0.43

2022
2021
2021
2021
2022
2022
2022
2022
2007
2022
2022
2022
2022
2009
2022
2022
2022
2020
2020
2020
2009
2020
2019
2021
1999

1.72
2.51
1.28
1.22
1.65
0.86
0.24
0.68
0.42
0.26
0.48
-0.44
0.62
1.07
0.76
0.44
0.33
1.28
0.67
0.61
0.72
0.40
0.21
0.17
0.47

2020
2022
2022
2022
2020
2020
2020
2020
2022
2020
2020
2009
2020
2022
2020
2020
2020
2022
2022
2022
2022
2022
2022
2022
2022

-1.69
0.07
-0.02
0.09
-2.70
-0.85
-0.37
-0.66
-0.06
-0.58
0.22
-0.74
-0.48
-0.48
-1.52
-0.75
-0.77
-1.24
-0.82
-0.42
-0.16
-0.19
-0.11
-0.08
0.03