Q2 GDP Revised Up to 3.8% in Third Estimate

Washington, DC, September 25, 2025-Real gross domestic product (GDP) increased at an annual rate of 3.8% in Q2 2025 (April, May, and June), according to the third estimate released by the U.S. Bureau of Economic Analysis. This is an upward revision from the second estimate’s 3.3% rate and from the initial Q2 estimate of 3%.

In the first quarter, real GDP decreased 0.6% (revised).

The increase in real GDP in Q2 primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP, and an increase in consumer spending. These movements were partly offset by decreases in investment and exports.

Real GDP was revised up 0.5 percentage point from the second estimate, primarily reflecting an upward revision to consumer spending.