February 20, 2026

GDP (Advance Estimate), 4th Quarter and Year 2025 and Personal Income and Outlays, December 2025

GDP (Advance Estimate), 4th Quarter and Year 2025

Real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the fourth quarter of 2025 (October, November, and December), according to the advance estimate released today by the U.S. Bureau of Economic Analysis. In the third quarter, real GDP increased 4.4 percent. The contributors to the increase in real GDP in the fourth quarter were increases in consumer spending and investment. These movements were partly offset by decreases in government spending and exports. Imports, which are a subtraction in the calculation of GDP, decreased.

Personal Income and Outlays, December 2025

Personal income increased $86.2 billion (0.3 percent at a monthly rate) in December, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $75.7 billion (0.3 percent), and personal consumption expenditures (PCE) increased $91.0 billion (0.4 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $90.2 billion in December. Personal saving was $830.8 billion in December, and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.6 percent.

Principal Federal Economic Indicators

Gross Domestic Product
Q4 (Adv) 2025
+1.4%
Personal Income
December 2025
+0.3%
International Trade in Goods and Services
December 2025
-$70.3 B
International Transactions
Q3 2025
-$226.4 B

Noteworthy

The Latest

April 2018 Trade Gap is $46.2 Billion

| The BEA Wire

The U.S. monthly international trade deficit decreased in April 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.2 billion in March (revised) to $46.2 billion in April, as exports increased and imports decreased. The previously published March deficit was $49.0 billion. The goods deficit decreased $1.0 billion in April to $68.3 billion. The services surplus decreased less than $0.1…

U.S. International Trade in Goods and Services, annual update

| News Release

In this release and in the accompanying "U.S. International Trade in Goods and Services: April 2018" release (FT-900), the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on trade in goods and services. With these releases, statistics on trade in goods on a Census basis are revised beginning with 2015, and statistics on trade in goods on a balance of payments (BOP) basis and on trade…

U.S. International Trade in Goods and Services, April 2018

| News Release

The U.S. monthly international trade deficit decreased in April 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.2 billion in March (revised) to $46.2 billion in April, as exports increased and imports decreased. The previously published March deficit was $49.0 billion. The goods deficit decreased $1.0 billion in April to $68.3 billion. The services surplus decreased less than $0.1…

BEA Releases for the First Time Detailed Data on More than 200 Medical Conditions

| The BEA Wire

The Bureau of Economic Analysis for the first time released statistics that provide information on how much Americans spend to treat more than 200 specific medical conditions, such as acute myocardial infarctions, chronic kidney disease, and osteoarthritis.

The new statistics, which cover the years 2000 through 2014, are part of BEA’s Health Care Satellite Account created in 2015. The project offers a new way of analyzing health care…

Real Disposable Personal Income Increases in April

| The BEA Wire

Personal income increased 0.3 percent in April after increasing 0.2 percent in March. Wages and salaries, the largest component of personal income, increased 0.4 percent in April after increasing 0.2 percent in March.

Personal Income and Outlays, April 2018

| News Release

Personal income increased 0.3 percent in April after increasing 0.2 percent in March. Wages and salaries, the largest component of personal income, increased 0.4 percent in April after increasing 0.2 percent in March.

GDP Increases in First Quarter

| The BEA Wire

Real gross domestic product (GDP) increased 2.2 percent in the first quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point lower than the “advance” estimate released in April. In the fourth quarter of 2017, real GDP rose 2.9 percent.

Gross Domestic Product: First Quarter 2018 (Second Estimate)

| News Release

Real gross domestic product (GDP) increased 2.2 percent in the first quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point lower than the “advance” estimate released in April. In the fourth quarter of 2017, real GDP rose 2.9 percent.

Real Personal Income for States, 2016

| The BEA Wire

The percent change in real state personal income ranged from 3.3 percent in Utah and Georgia to -3.6 percent in Wyoming. In the District of Columbia, real personal income grew 4.5 percent.

Real Personal Income for States and Metropolitan Areas, 2016

| News Release

Real state personal income grew on average 1.1 percent in 2016, after increasing 4.7 percent in 2015. The percent change in real state personal income ranged from 3.3 percent in Utah and Georgia to -3.6 percent in Wyoming. In the District of Columbia, real personal income grew 4.5 percent. Across metropolitan areas, the percent change ranged from 6.6 percent in Jacksonville, NC to -8.1 percent in Midland, TX and Odessa, TX.