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, March 2004

| News Release

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

Gross Domestic Product: First Quarter 2004 "advance" estimates

| News Release

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

State Personal Income: Fourth Quarter 2003, State Per Capita Personal Income 2003, and Revisions 1969-2002

| News Release

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

Summary Estimates for Multinational Companies: Employment, Sales, and Capital Expenditures for 2002

| News Release

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

U.S. International Trade in Goods and Services: February 2004

| News Release

The first two pages of this release are shown in plain text below.

Personal Income and Outlays, February 2004

| News Release

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

Gross Domestic Product and Corporate Profits: Fourth Quarter 2003 "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 2003

| News Release

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

U.S. International Trade in Goods and Services: January 2004

| News Release

The first two pages of this release are shown in plain text below.