Bureau of Economic Analysis
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
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BEA to Move to Accrual Accounting for Defined Benefit Pension Plans
Employers provide employees with retirement benefits largely through two mechanisms: defined contribution plans like 401(k)s or defined benefit pension plans. Under defined benefit plans, employees accrue benefits based on factors such as the employee’s length of service and salary history. Employers provide these promised benefits to employees through a pension fund. Employers, and in some cases employees, make cash contributions to the…
U.S. Current-Account Deficit Increases in First Quarter 2013
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $106.1 billion (preliminary) in the first quarter of 2013 from $102.3 billion (revised) in the fourth quarter of 2012. As a percentage of U.S. gross domestic product, the deficit increased to 2.7 percent from 2.6 percent. The previously published current-account deficit for the fourth quarter was $…
U.S. International Transactions, 1st quarter 2013 and Annual Revisions
NOTE: See the navigation bar at the right side of the news release text for links to data tables, contact personnel and their telephone numbers, and supplementary materials.
Sarah Scott: (202) 606-9286 (Data) Paul W. Farello: (202) 606-9561 (…
BEA Introduces New Measures of the Regional Economy
Today, the U.S. Bureau of Economic Analysis released experimental real, or inflation-adjusted, estimates of personal income for states and metropolitan areas. The inflation adjustments are based in part on regional price parities (RPPs), which provide a measure of differences in price levels across each state and region relative to the national price level for each of the years 2007–2011.
Real Personal Income for States and Metropolitan Areas, 2007-2011 (prototype estimate)
Today, the U.S. Bureau of Economic Analysis released experimental real, or inflation-adjusted, estimates of personal income for states and metropolitan areas. The inflation-adjustments are based in part on regional price parities (RPPs) that provide a measure of differences in price levels across each state and region relative to the national price level for each of the years, 2007-2011.
Widespread State Economic Growth in 2012
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2012. Leading industry contributors were durable-goods manufacturing, finance and insurance, and wholesale trade. Durable-goods manufacturing was the largest contributor to U.S. real GDP by state growth in 2012.
Gross Domestic Product by State, 2012 (advance estimate) and 2009-2011 (revised estimate)
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April 2013 Trade Gap is $40.3 Billion
The U.S. monthly international trade deficit increased in April 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $37.1 billion (revised) in March to $40.3 billion in April as imports increased more than exports. The previously published March deficit was $38.8 billion. The goods deficit increased $3.2 billion from March to $58.6 billion in April; the services surplus increased $0.1…
U.S. International Trade in Goods and Services, April 2013 U.S. International Trade in Goods and Services , 2012 annual revision
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Real Consumer Spending Slows Slightly
Personal income remained flat in April after increasing 0.3 percent in March. Wages and salaries, the largest component of personal income, remained flat in April after increasing 0.2 percent in March.
Current-dollar disposable personal income (DPI), after-tax income, decreased 0.1 percent in April after increasing 0.2 percent in March.
Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in April after…