GDP (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 1st Quarter 2026. Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the first quarter of 2026 (January, February, and March), according to the third estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. Real GDP was revised up 0.5 percentage point from the second estimate, primarily reflecting a downward revision to imports, which are a subtraction in the calculation of GDP, that was partly offset by a downward revision to consumer spending. For more information, refer to the “Technical Notes” below. The contributors to the increase in real GDP in the first quarter were investment, exports, government spending, and consumer spending. Imports, which are a subtraction in the calculation of GDP, increased. GDP by industry – From an industry perspective, the increase in real GDP reflected increases in real value added of 7.5 percent for government, 4.5 percent for private goods-producing industries, and 0.8 percent for private services-producing industries. The leading industry contributors to the increase in real GDP were information; federal government; professional, scientific, and technical services; and durable goods manufacturing. The leading offsets were decreases in retail trade, wholesale trade, and finance and insurance. Related economic measures – Real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, increased 1.7 percent in the first quarter, revised down 0.7 percentage point from the previous estimate. Real gross output increased 1.7 percent in the first quarter, reflecting increases of 4.9 percent for government, 1.7 percent for private services-producing industries, and less than 0.1 percent for private goods-producing industries. Real gross domestic income (GDI) increased 1.2 percent in the first quarter, revised up 0.3 percentage point from the previous estimate. The average of real GDP and real GDI increased 1.7 percent in the first quarter, revised up 0.4 percentage point. Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $74.4 billion in the first quarter, revised up $34.0 billion. The price index for gross domestic purchases increased 3.6 percent in the first quarter, revised up 0.1 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index increased 4.6 percent, also revised up 0.1 percentage point, and the PCE price index excluding food and energy increased 4.4 percent, the same as previously estimated.
Gross Domestic Product – 1st quarter (Third Estimate) (06-25-26)
- Economic Monthly Summaries, Gross Domestic Product
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