U.S. GDP Growth
Latest data: April 1, 2026 · Updated automatically from official sources
Gross domestic product is the broadest measure of economic output — the market value of all final goods and services produced in the United States. Real GDP strips out inflation, so it shows whether the economy is actually producing more. Rising nominal GDP with flat real GDP just means prices went up, not output.
Latest readings
- Real GDP Growth (QoQ, ann.) was 1.5% as of Q2 2026, down 0.6 percentage points from the prior reading, versus 3.8% a year earlier.
- Real GDP Growth was up 2.1% year over year in Q2 2026, compared with 2.7% in the prior period and 2.1% a year earlier.
- Nominal GDP was $32.49T as of Q2 2026, up 1.9% from the prior reading and up 6.6% from a year earlier — the highest reading since records in this series began in 1947.
Real GDP growth
Real GDP, year-over-year
Real vs. nominal GDP
Recent readings
| Period | Real GDP growth (QoQ ann.) | Change |
|---|---|---|
| Q2 2026 | 1.5% | -0.60 pp |
| Q1 2026 | 2.1% | +1.60 pp |
| Q4 2025 | 0.5% | -3.90 pp |
| Q3 2025 | 4.4% | +0.60 pp |
| Q2 2025 | 3.8% | +4.40 pp |
| Q1 2025 | -0.6% | -2.50 pp |
| Q4 2024 | 1.9% | -1.40 pp |
| Q3 2024 | 3.3% | -0.30 pp |
| Q2 2024 | 3.6% | +2.80 pp |
| Q1 2024 | 0.8% | -2.60 pp |
| Q4 2023 | 3.4% | -1.30 pp |
| Q3 2023 | 4.7% | — |
Key statistics
| Indicator | Latest | Year ago | 5-yr avg | Long-run avg | Record high | Record low | Data since |
|---|---|---|---|---|---|---|---|
| Real GDP Growth (QoQ, ann.) | 1.5% | 3.8% | 2.7% | 3.2% | 34.9% (Jul 2020) | -28.0% (Apr 2020) | 1947 |
| Real GDP Growth (YoY) | 2.1% | 2.1% | 3.3% | 3.1% | 13.4% (Oct 1950) | -7.4% (Apr 2020) | 1948 |
| Nominal GDP (ann.) | $32.49T | $30.49T | $28.20T | $7.90T | $32.49T (Apr 2026) | $243.2B (Jan 1947) | 1947 |
What the GDP growth rate means
The headline U.S. GDP growth figure is the change in real GDP from one quarter to the next, expressed as an annualized rate — that is, how fast the economy would grow over a full year if the quarter’s pace continued. A 0.5% quarterly increase is reported as roughly 2% annualized. Most other countries report plain quarter-over-quarter or year-over-year changes, so the U.S. headline looks larger by comparison; the year-over-year chart above provides a like-for-like view.
The components of GDP
GDP is the sum of four kinds of spending: consumption by households (about two-thirds of the total), investment by businesses in equipment, structures and software plus residential construction and inventory changes, government purchases, and net exports (exports minus imports). Swings in inventories and net exports often move the quarterly headline sharply without saying much about underlying demand, so economists also watch “final sales to private domestic purchasers,” which excludes them.
Release schedule and revisions
The Bureau of Economic Analysis publishes an advance GDP estimate about four weeks after each quarter ends, followed by a second and third estimate in the next two months as more complete data arrive. Annual and comprehensive revisions can change growth rates for years afterward. Two consecutive quarters of negative growth is a popular rule of thumb for recession, but official U.S. recession dates are set by the National Bureau of Economic Research using a broader set of indicators.
Frequently asked questions
What is a normal GDP growth rate for the U.S.?
Over the past few decades, U.S. real GDP has grown about 2% to 3% a year on average. Economists’ estimates of the long-run sustainable (“potential”) growth rate are generally around 2%.
Does negative GDP growth mean a recession?
Not necessarily. Two consecutive negative quarters is a common rule of thumb, but the National Bureau of Economic Research defines U.S. recessions using employment, income, spending and production data as well as GDP.
Related data
Data are retrieved automatically from the original statistical agencies (via the Federal Reserve Bank of St. Louis FRED database) and may be revised by the source. Year-over-year changes are calculated by econHQ. See About & methodology for details.