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July 30, 2025 2025Q2 (Advance Estimate) Comparisons -- Percent Change from Preceding Period in Real Gross Domestic Product and Related Measures [Percent] Seasonally adjusted at annual rates Gross domestic product (GDP) Personal consumption expenditures Goods Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment Intellectual property products Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local Addenda: Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers Final sales to private domestic purchasers Gross domestic income (GDI) Average of GDP and GDI Gross national product (GNP) Disposable personal income Current-dollar measures: GDP Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers Final sales to private domestic purchasers GDI Average of GDP and GDI GNP Disposable personal income Chain-type price measures: Gross domestic purchases Gross domestic purchases excluding food and energy GDP GDP excluding food and energy GDP implicit price deflator PCE PCE excluding food and energy Market-based PCE Market-based PCE excluding food and energy Source: U.S. Bureau of Economic Analysis 2025Q2 % change 3.0 1.4 2.2 3.7 1.3 1.1 -15.6 0.4 1.9 -10.3 4.8 6.4 -4.6 ..................... ..................... -1.8 -5.0 4.4 -30.3 -35.3 -5.4 0.4 -3.7 2.2 -11.2 3.0 Last period with equal value 2024Q2 3.0 2014Q1 1.4 2003Q1 2.2 2013Q3 3.7 2018Q3 1.3 2012Q2 1.1 1981Q2 -15.6 1966Q3 0.4 ............... ............... ............... ............... ............... ............... 1986Q2 6.4 1984Q3 -4.6 ............... ............... ............... ............... 2008Q3 -1.8 ............... ............... 1997Q3 4.4 ............... ............... ............... ............... ............... ............... 1987Q3 0.4 ............... ............... 2010Q1 2.2 ............... ............... 2015Q1 3.0 Last period with larger value 2024Q3 3.1 2024Q4 4.0 2024Q4 6.2 2024Q4 12.4 2025Q1 2.1 2024Q4 3.0 2025Q1 23.8 2025Q1 7.6 2025Q1 10.3 2025Q1 -2.4 2025Q1 23.7 2024Q1 7.5 2025Q1 -1.3 ............... ............... ............... ............... 2025Q1 0.4 2025Q1 6.5 2024Q4 8.5 2025Q1 37.9 2025Q1 51.6 2024Q4 10.9 2024Q4 3.1 2024Q4 4.0 2024Q4 4.8 2025Q1 -1.2 2024Q1 3.1 6.3 -1.9 1.1 1.2 ..................... ..................... ..................... 3.0 1963Q2 ............... 2018Q4 2018Q4 ............... ............... ............... 1998Q4 6.3 ............... 1.1 1.2 ............... ............... ............... 3.0 2021Q2 8.7 2025Q1 -3.1 2025Q1 4.1 2020Q2 -27.4 2025Q1 1.5 2022Q3 0.9 2025Q1 1.9 2022Q4 0.6 ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... 2024Q1 5.6 2025Q1 2.5 5.0 8.4 0.0 3.0 3.0 ..................... ..................... ..................... 5.1 2024Q3 1987Q2 1975Q1 ............... 2001Q1 ............... ............... ............... 2008Q1 5.0 8.4 0.0 ............... 3.0 ............... ............... ............... 5.1 2024Q2 5.6 2025Q1 3.2 2023Q1 8.9 2025Q1 0.6 2025Q1 7.6 2020Q2 -28.2 2025Q1 4.9 2020Q2 -24.7 2025Q1 5.1 2020Q2 -30.7 ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... 2025Q1 6.2 2024Q4 4.9 1.9 2.2 2.0 2.1 2.0 2.1 2.5 2.1 2.6 2024Q3 2023Q2 2019Q2 2019Q2 2013Q3 2018Q2 2012Q1 2024Q4 2008Q1 1.9 2.2 2.0 2.1 2.0 2.1 2.5 2.1 2.6 2025Q1 2025Q1 2025Q1 2025Q1 2025Q1 2025Q1 2025Q1 2025Q1 2025Q1 3.4 3.3 3.8 3.7 3.8 3.7 3.5 3.1 2.9 Last period with smaller value 2025Q1 -0.5 2025Q1 0.5 2025Q1 0.1 2025Q1 -3.7 2024Q1 -0.8 2025Q1 0.6 2020Q2 -45.1 2024Q4 -1.1 2024Q4 -3.0 2020Q2 -39.1 2024Q4 -8.7 2025Q1 6.0 2022Q4 -22.8 ............... ............... ............... ............... 2023Q2 -4.8 2023Q2 -10.9 2025Q1 -9.7 2020Q2 -52.8 2020Q2 -48.6 2025Q1 -6.3 2025Q1 -0.6 2025Q1 -4.6 2025Q1 -7.1 2021Q3 -11.3 2025Q1 2.0 2023Q4 2023Q4 2024Q3 2020Q2 2024Q3 2024Q3 2024Q3 2024Q3 2024Q4 1.7 1.9 1.9 -0.6 1.9 1.5 2.2 1.3 2.3 July 30, 2025 2025Q2 (Advance Estimate) Comparisons -- Contributions to Percent Change in Real Gross Domestic Product 2025Q2 contribution Percent change at annual rate: Gross domestic product Percentage points at annual rates: Personal consumption expenditures Goods Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment Intellectual property products Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local Source: U.S. Bureau of Economic Analysis Last period with equal value 3.0 2024Q2 0.98 0.46 0.27 0.18 0.53 -3.09 0.08 0.27 -0.33 0.26 0.34 -0.19 -3.17 4.99 -0.19 -0.35 0.17 5.18 5.02 0.16 0.08 -0.24 0.08 -0.32 0.32 1993Q1 1958Q2 1998Q1 2016Q3 1963Q1 ............... 1981Q3 ............... 1994Q1 1993Q3 2013Q3 1989Q1 ............... ............... 1980Q4 1972Q2 2019Q4 ............... ............... 2002Q3 ............... 1995Q3 2009Q1 ............... 2024Q1 Last period with larger value 3.0 2024Q3 0.98 0.46 0.27 0.18 0.53 ............... 0.08 ............... -0.33 0.26 0.34 -0.19 ............... ............... -0.19 -0.35 0.17 ............... ............... 0.16 ............... -0.24 0.08 ............... 0.32 Last period with smaller value 3.1 2025Q1 -0.5 2024Q4 2.70 2025Q1 2024Q4 1.30 2025Q1 2024Q4 0.87 2025Q1 2025Q1 0.29 2024Q1 2024Q4 1.41 2025Q1 2025Q1 3.90 2020Q2 2025Q1 1.31 2024Q4 2025Q1 1.36 2024Q4 2025Q1 -0.07 2020Q2 2025Q1 1.11 2024Q4 2024Q1 0.40 2025Q1 2025Q1 -0.05 2022Q4 2025Q1 2.59 2020Q2 ............... ............... 2025Q1 2025Q1 0.04 2023Q2 2025Q1 0.44 2023Q2 2024Q4 0.32 2025Q1 2020Q2 9.56 2025Q1 2020Q2 6.97 2025Q1 2025Q1 0.18 2024Q4 2024Q4 0.52 2025Q1 2024Q4 0.25 2025Q1 2024Q4 0.18 2025Q1 2025Q1 -0.03 2021Q3 2023Q4 0.63 2025Q1 0.31 0.01 -0.28 -0.12 0.30 -8.87 -0.20 -0.41 -1.42 -0.47 0.32 -1.12 -3.67 -4.61 -0.54 -0.86 -0.39 -4.66 -4.84 -0.30 -0.10 -0.31 -0.27 -0.35 0.21