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

Personal Income and Outlays, April 2013

| News Release

Personal income decreased $5.6 billion, or less than 0.1 percent, and disposable personal income (DPI) decreased $16.1 billion, or 0.1 percent, inApril, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $20.5 billion, or 0.2 percent. In March, personal income increased $36.2 billion, or 0.3 percent, DPI increased $25.4 billion, or 0.2 percent, and PCE increased $14.2 billion, or 0.1 percent, based…

GDP Growth Accelerates in First Quarter

| The BEA Wire

Real gross domestic product (GDP) increased 2.4 percent in the first quarter of 2013 after increasing 0.4 percent in the fourth quarter of 2012, according to estimates released by the Bureau of Economic Analysis. The first-quarter growth rate was revised down 0.1 percentage point from the advance estimate released in April.

GDP highlights The following contributed to the acceleration in growth:

Gross Domestic Product, 1st quarter 2013 (second estimate); Corporate Profits, 1st quarter 2013 (preliminary estimate)

| News Release

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.4 percent in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 0.4 percent. The GDP estimate released today is based…

May 31st Deadline for Returning Completed Foreign Direct Investment Surveys Draws Near

| The BEA Wire

The May 31st deadline is rapidly approaching for people to return their completed BE–12 surveys to the U.S. Bureau of Economic Analysis.

These surveys are critical to BEA’s ability to produce statistics on foreign direct investment in the United States. The statistics help policymakers and the general public understand the impact of foreign investment on the U.S. economy.

Therefore, it is vitally important that you waste no…

March 2013 Trade Gap is $38.8 Billion

| The BEA Wire

The U.S. monthly international trade deficit decreased in March 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $43.6 billion (revised) in February to $38.8 billion in March as imports decreased more than exports. The previously published February deficit was $43.0 billion. The goods deficit decreased $4.6 billion from February to $56.1 billion in March; the services surplus…

Real Consumer Spending Increased in March

| The BEA Wire

Personal income increased 0.2 percent in March after increasing 1.1 percent in February. Wages and salaries, the largest component of personal income, increased 0.2 percent in March after increasing 0.7 percent in February. Wages for services industries’ slowed, while wages for goods industries turned down slightly.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.2 percent in March after…

Personal Income and Outlays, March 2013

| News Release

Personal income increased $30.9 billion, or 0.2 percent, and disposable personal income (DPI) increased $20.7 billion, or 0.2 percent, in March, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $21.0 billion, or 0.2 percent. In February, personal income increased $151.2 billion, or 1.1 percent, DPI increased $134.0 billion, or 1.1 percent, and PCE increased $81.6 billion, or 0.7 percent, based on…

GDP Growth Picks Up in the First Quarter

| The BEA Wire

Real gross domestic product (GDP) accelerated in the first quarter of 2013, increasing 2.5 percent after increasing 0.4 percent in the fourth quarter of 2012, according to estimates released by the Bureau of Economic Analysis.

Gross Domestic Product, 1st quarter 2013 (advance estimate)

| News Release

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.5 percent in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the "advance" estimate released by the Bureau of Economic Analysis.