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Historical release narrative reproduced from the official public-domain U.S. Bureau of Economic Analysis source. Statistical tables, charts, standard technical appendices and administrative material are omitted; formatting is adapted for reading. Figures retain the release's original vintage and may have been revised. Consult the linked source for the complete release and current data.
Real gross domestic product (GDP) increased at an annual rate of 2.2 percent in the second quarter of 2026 (April, May, and June), according to the third estimate released today by the U.S. Bureau of Economic Analysis (BEA). In the first quarter, real GDP increased 2.5 percent (revised).
Real GDP was revised up 0.7 percentage point from the second estimate, primarily reflecting upward revisions to investment, consumer spending, and government spending. For more information, refer to the "Technical Notes" below
The contributors to the increase in real GDP in the second quarter were consumer spending, investment, and exports. Imports, which are a subtraction in the calculation of GDP, increased.
GDP by industry
From an industry perspective, the increase in real GDP reflected increases in real value added of 2.5 percent for private services-producing industries, 2.3 percent for private goods-producing industries, and less than 0.1 percent for government. The leading industry contributors to the increase in real GDP were real estate and rental and leasing, information, durable goods manufacturing, and finance and insurance. The leading offsets were decreases in transportation and warehousing, retail trade, and nondurable goods manufacturing.
Related economic measures
Real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, increased 4.6 percent in the second quarter, revised up 0.4 percentage point from the previous estimate.
Real gross output increased 5.0 percent in the second quarter, reflecting increases of 6.0 percent for private services-producing industries, 3.0 percent for private goods-producing industries, and 2.6 percent for government.
Real gross domestic income (GDI) increased 2.6 percent in the second quarter, revised up 0.4 percentage point from the previous estimate. The average of real GDP and real GDI increased 2.4 percent in the second quarter, revised up 0.6 percentage point.
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $384.0 billion in the second quarter, revised down $16.9 billion.
The price index for gross domestic purchases increased 5.6 percent in the second quarter, revised down 0.2 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index increased 5.0 percent, revised down 0.3 percentage point, and the PCE price index excluding food and energy increased 3.3 percent, also revised down 0.3 percentage point.
GDP by state
From a regional perspective, real GDP increased in 44 states and the District of Columbia in the second quarter of 2026, with the percent change at an annual rate ranging from 4.0 percent in New York to –2.3 percent in West Virginia.
Finance and insurance was the leading contributor to the increase in real GDP in New York and Delaware. Mining was the leading contributor to the decrease in West Virginia and Wyoming.
Personal income by state
In the second quarter of 2026, current-dollar personal income increased $314.3 billion, or 4.7 percent at an annual rate. Personal income increased in 49 states and the District of Columbia, with the percent change at an annual rate ranging from 6.4 percent in Wisconsin to –4.2 percent in North Dakota.
Earnings (compensation plus proprietors’ income) increased in 48 states and the District of Columbia. The percent change in earnings ranged from 7.3 percent in Minnesota to –9.3 percent in North Dakota.
Personal current transfer receipts increased in 48 states and declined in the District of Columbia. The percent change in transfer receipts ranged from 13.0 percent in Wisconsin to –3.9 percent in Oregon.
Property income (dividends, interest, and rent) increased in all 50 states and the District of Columbia. The percent change ranged from 5.1 percent in Tennessee to 3.3 percent in Iowa.
Personal consumption expenditures (PCE) by state
In 2025, current-dollar PCE increased 5.3 percent, increasing in 14 of the 16 major categories for which BEA prepares estimates. PCE by state increased in all 50 states and the District of Columbia, with the percent change ranging from 7.0 percent in Florida to 4.2 percent in California.
Health care and housing and utilities were the leading contributors to the increases in PCE in most states, including Florida.
Today's release also includes results from the 2026 annual update of the National Economic Accounts, which include the National Income and Product Accounts and the Industry Economic Accounts. The update covered the first quarter of 2021 through the first quarter of 2026 and resulted in revisions to GDP, GDP by industry, GDI, and their major components. The reference year remains 2017. Today’s release also includes the results of BEA's annual updates of GDP by state, personal income by state, and PCE by state.
Updates for the First Quarter of 2026
For the first quarter of 2026, real GDP is now estimated to have increased 2.5 percent, an upward revision of 0.4 percentage point from the previously published estimate, primarily reflecting upward revisions to exports of services and consumer spending on both goods and services.
Real final sales to private domestic purchasers is now estimated to have increased 1.8 percent in the first quarter, an upward revision of 0.1 percentage point from the previously published estimate.
From an industry perspective, real value added for private goods-producing industries is now estimated to have increased 1.5 percent in the first quarter, a downward revision of 3.0 percentage points. Private services-producing industries increased 2.1 percent, an upward revision of 1.3 percentage points. Government increased 6.3 percent, a downward revision of 1.2 percentage points.
Real gross output is now estimated to have increased 2.3 percent, an upward revision of 0.6 percentage point. Private goods-producing industries decreased 0.9 percent, a downward revision of 0.9 percentage point. Private services-producing industries increased 2.9 percent, an upward revision of 1.2 percentage points. Government increased 5.3 percent, an upward revision of 0.4 percentage point.
The price index for gross domestic purchases is now estimated to have increased 3.2 percent in the first quarter, a downward revision of 0.4 percentage point. The PCE price index increased 4.2 percent, also revised down 0.4 percentage point. Excluding food and energy, the PCE price index increased 3.9 percent, revised down 0.5 percentage point.
Real GDI is now estimated to have increased 2.5 percent in the first quarter, 1.3 percentage points higher than previously estimated. The leading contributor to the upward revision was compensation, based primarily on new first-quarter wage and salary data from the U.S. Bureau of Labor Statistics’ (BLS) Quarterly Census of Employment and Wages program. The average of real GDP and real GDI is now estimated to have increased 2.5 percent in the first quarter, 0.8 percentage point higher than previously estimated.
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) is now estimated to have increased $63.4 billion in the first quarter, a downward revison of $11.0 billion.
Source: U.S. Bureau of Economic Analysis · Original release Sep 30, 2026.
Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.