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

Preliminary 2002 Annual and Fourth Quarter State Personal Income and 2002 State Per Capita Personal Income

| News Release

The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.

Gross Domestic Product by Industry for 2002

| News Release

The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.

Personal Income, February 2003

| News Release

The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.

Gross Domestic Product and Corporate Profits Fourth Quarter 2002 "final" estimates

| News Release

The tables in this release are available in an XLS spreadsheet, and the entire release is available in PDF format.

Tourism Satellite Accounts, Fourth Quarter 2002

| News Release

The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.

Personal Income, January 2003

| News Release

The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.

Gross Domestic Product Fourth Quarter 2002 "preliminary" estimates

| News Release

The tables in this release are available in an XLS spreadsheet, and the entire release is available in PDF format.