| Q3 2025 | Q2 2025 | Chg. from Q2 2025 | Q3 2024 | Chg. from Q3 2024 | |
|---|---|---|---|---|---|
| Size of the U.S. Economy | |||||
| Nominal GDP | $31,098.0B | $30,485.7B | $612.3B | $29,511.7B | $1,586.4B |
| Real GDP | $24,026.8B | $23,771.0B | $255.9B | $23,478.6B | $548.3B |
| Q3 2025 | Q2 2025 | Chg. from Q2 2025 | |
|---|---|---|---|
| Quarterly growth rate, annualized (pp) | |||
| Nominal GDP | 8.3 | 6.0 | 2.3pp |
| – GDP deflator | 3.9 | 2.2 | 1.7pp |
| = Real GDP | 4.4 | 3.8 | 0.6pp |
| Contribution of subcomponents (pp) | |||
| Consumer spending | 2.3 | 1.7 | 0.6pp |
| Nonresidential fixed investment | 0.4 | 1.0 | -0.6pp |
| Residential investment | -0.3 | -0.2 | -0.1pp |
| Change in private inventories | -0.1 | -3.4 | 3.3pp |
| Net exports | 1.6 | 4.8 | -3.2pp |
| Government spending | 0.4 | 0.0 | 0.4pp |
| Total real GDP growth | 4.4 | 3.8 | 0.6pp |
| Subcomponent growth rates (pp) | |||
| Consumption | 3.5 | 2.5 | 1.0pp |
| Investment | 0.0 | -13.8 | 13.8pp |
| Exports | 9.6 | -1.8 | 11.4pp |
| Imports | -4.4 | -29.3 | 24.9pp |
| Government expenditures | 2.2 | -0.1 | 2.3pp |
| Date | Time | Release | Data source |
|---|---|---|---|
| Jan 27 | 10:00 AM | State Employment Update, December 2025 | Bureau of Labor Statistics |
| Jan 29 | 08:30 AM | Monthly Expenditures Update, December 2025 | Bureau of Economic Analysis |
| Feb 05 | 08:30 AM | Monthly Trade Update, December 2025 | Bureau of Economic Analysis |
| Feb 06 | 08:30 AM | Monthly Employment Update, January 2026 | Bureau of Labor Statistics |
| Feb 06 | 10:00 AM | Monthly Debt Update, January 2026 | U.S. Treasury |
| Feb 11 | 08:30 AM | Monthly Inflation Update, January 2026 | Bureau of Labor Statistics |
| Feb 12 | 10:00 AM | Monthly Fiscal Update, January 2026 | U.S. Treasury |
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.