| Q3 2025 | Q2 2025 | Chg. from Q2 2025 | Q3 2024 | Chg. from Q3 2024 | |
|---|---|---|---|---|---|
| Size of the U.S. Economy | |||||
| Nominal GDP | $31,095.1B | $30,485.7B | $609.4B | $29,511.7B | $1,583.4B |
| Real GDP | $24,025.0B | $23,771.0B | $254.0B | $23,478.6B | $546.4B |
| Q3 2025 | Q2 2025 | Chg. from Q2 2025 | |
|---|---|---|---|
| Quarterly growth rate, annualized (pp) | |||
| Nominal GDP | 8.2 | 6.0 | 2.2pp |
| – GDP deflator | 3.9 | 2.2 | 1.7pp |
| = Real GDP | 4.3 | 3.8 | 0.5pp |
| Contribution of subcomponents (pp) | |||
| Consumer spending | 2.4 | 1.7 | 0.7pp |
| Nonresidential fixed investment | 0.4 | 1.0 | -0.6pp |
| Residential investment | -0.2 | -0.2 | 0.0pp |
| Change in private inventories | -0.2 | -3.4 | 3.2pp |
| Net exports | 1.6 | 4.8 | -3.2pp |
| Government spending | 0.4 | 0.0 | 0.4pp |
| Total real GDP growth | 4.3 | 3.8 | 0.5pp |
| Subcomponent growth rates (pp) | |||
| Consumption | 3.5 | 2.5 | 1.0pp |
| Investment | -0.3 | -13.8 | 13.5pp |
| Exports | 8.8 | -1.8 | 10.6pp |
| Imports | -4.7 | -29.3 | 24.6pp |
| Government expenditures | 2.2 | -0.1 | 2.3pp |
| Date | Time | Release | Data source |
|---|---|---|---|
| Jan 07 | 10:00 AM | State Employment Update, November 2025 | Bureau of Labor Statistics |
| Jan 08 | 10:00 AM | Monthly Debt Update, December 2025 | U.S. Treasury |
| Jan 09 | 08:30 AM | Monthly Employment Update, December 2025 | Bureau of Labor Statistics |
| Jan 13 | 08:30 AM | Monthly Inflation Update, December 2025 | Bureau of Labor Statistics |
| Jan 14 | 10:00 AM | Monthly Fiscal Update, December 2025 | 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.