U.S. GDP, growth and its components

Real GDP growth

-0.3 pt Q2 2026 vs. Q1 2026

This is the headline GDP growth number: how fast the economy grew in a quarter after adjusting for inflation, expressed as a yearly rate. Two negative quarters in a row are often called a recession, though the official call is made by the National Bureau of Economic Research.

GDP (nominal)

$32.6T Q2 2026 · was 5.8% in Q1 2026

GDP is the total market value of the goods and services produced in the United States, in current dollars and shown as a yearly rate. Because it is not adjusted for inflation, part of its growth comes from rising prices.

Real GDP

$24.41T Q2 2026 · was 2.6% in Q1 2026

Real GDP is GDP adjusted for inflation and expressed in 2017 dollars, so it measures how much more the economy is actually producing. Its yearly change shows growth without the effect of higher prices.

Real GDI growth

+0.1 pt Q2 2026 vs. Q1 2026

Gross domestic income adds up incomes earned from production, such as wages and profits. In theory it equals GDP, but the two are measured from different data, so the growth rates can differ.

Gross domestic income

$32.75T Q2 2026 · was 6.1% in Q1 2026

Gross domestic income is the total income earned producing goods and services in the U.S., in current dollars at an annual rate.

Real GDP per person

$71,212 Q2 2026 · was 2.3% in Q1 2026

This is real GDP divided by the population, in chained 2017 dollars. It shows how output per resident has grown after adjusting for inflation.

Real consumer spending (GDP)

$16.79T Q2 2026 · was 2.1% in Q1 2026

This is personal consumption expenditures adjusted for inflation, the part of real GDP spent by households. It is the largest part of GDP.

Real private investment

$4.62T Q2 2026 · was -1.0% in Q1 2026

Gross private domestic investment covers business spending on equipment, software and buildings, new home building, and the change in inventories, adjusted for inflation. It swings much more than consumer spending.

Business investment

$4.74T Q2 2026 · was 8.2% in Q1 2026

Private nonresidential fixed investment is what businesses spend on structures, equipment and intellectual property such as software and research, in current dollars.

Residential investment

$1,182.1B Q2 2026 · was -2.5% in Q1 2026

Private residential fixed investment covers building new homes and apartments, home improvements and real estate broker fees, in current dollars.

Real government spending (GDP)

$4.09T Q2 2026 · was 0.7% in Q1 2026

This is federal, state and local government spending on goods, services and investment, adjusted for inflation. It does not include transfer payments such as Social Security.

Real exports

$2.81T Q2 2026 · was 4.0% in Q1 2026

This is the inflation-adjusted value of goods and services the U.S. sells to other countries, as counted in GDP.

Real imports

$3.91T Q2 2026 · was -5.6% in Q1 2026

This is the inflation-adjusted value of goods and services the U.S. buys from other countries. Imports are subtracted when GDP is calculated.

Net exports (GDP)

-$59.5B Q2 2026 vs. Q1 2026

Net exports are exports minus imports of goods and services in the GDP accounts, in current dollars at an annual rate. Net exports have been negative, a trade deficit, in almost every quarter since the early 1980s.

Corporate profits after tax

$4.28T Q2 2026 · was 17.5% in Q1 2026

This is after-tax corporate profits from the national accounts, without inventory and capital consumption adjustments, in current dollars at an annual rate.