| Q2 2025 | Q1 2025 | Chg. from Q1 2025 | Q2 2024 | Chg. from Q2 2024 | |
|---|---|---|---|---|---|
| Size of the U.S. Economy | |||||
| Nominal GDP | $30.331T | $29.962T | $369.070B | $29.017T | $1.314T |
| Real GDP | $23.685T | $23.513T | $172.570B | $23.224T | $461.381B |
| Q2 2025 | Q1 2025 | Chg. from Q1 2025 | |
|---|---|---|---|
| Quarterly growth rate, annualized (pp) | |||
| Nominal GDP | 5.0 | 3.2 | 1.8pp |
| – GDP deflator | 2.0 | 3.7 | -1.7pp |
| = Real GDP | 3.0 | -0.5 | 3.5pp |
| Contribution of subcomponents (pp) | |||
| Consumer spending | 1.0 | 0.3 | 0.7pp |
| Nonresidential fixed investment | 0.3 | 1.4 | -1.1pp |
| Residential investment | -0.2 | 0.0 | -0.2pp |
| Change in private inventories | -3.2 | 2.6 | -5.8pp |
| Net exports | 5.0 | -4.6 | 9.6pp |
| Government spending | 0.1 | -0.1 | 0.2pp |
| Total real GDP growth | 3.0 | -0.5 | 3.5pp |
| Subcomponent growth rates (pp) | |||
| Consumption | 1.4 | 0.5 | 0.9pp |
| Investment | -15.6 | 23.8 | -39.4pp |
| Exports | -1.8 | 0.4 | -2.2pp |
| Imports | -30.2 | 38.0 | -68.2pp |
| Government expenditures | 0.4 | -0.6 | 1.0pp |
| Date | Time | Release | Data source |
|---|---|---|---|
| Jul 31 | 08:30 AM | Monthly Expenditures Update, June 2025 | Bureau of Economic Analysis |
| Aug 01 | 08:30 AM | Monthly Employment Update, July 2025 | Bureau of Labor Statistics |
| Aug 05 | 08:30 AM | Monthly Trade Update, June 2025 | Bureau of Economic Analysis |
| Aug 07 | 10:00 AM | Monthly Debt Update, August 2025 | U.S. Treasury |
| Aug 12 | 08:30 AM | Monthly Inflation Update, July 2025 | Bureau of Labor Statistics |
| Aug 13 | 10:00 AM | Monthly Fiscal Update, July 2025 | U.S. Treasury |
| Aug 19 | 10:00 AM | State Employment Update, July 2025 | Bureau of Labor Statistics |
| Aug 28 | 08:30 AM | Monthly GDP Update, Q2 2025 Second Estimate | Bureau of Economic Analysis |
| Aug 29 | 08:30 AM | Monthly Expenditures Update, July 2025 | Bureau of Economic Analysis |
Source: Bureau of Economic Analysis; U.S. Treasury; JEC Republicans calculations
“pp” = percentage points
“Real” values are expressed in chained 2017 dollars.
Discrepancy in change figures is possible due to rounding.