Real gross domestic product (GDP) in the United States grew at an annual rate of 3.0 percent during the second quarter of 2025, according to the advance estimate released by the U.S. Bureau of Economic Analysis (BEA). This follows a decrease of 0.5 percent in real GDP during the first quarter.
The BEA reported that the main drivers behind the increase were a decline in imports, which are subtracted from GDP calculations, and higher consumer spending. These gains were partly offset by reductions in both investment and exports.
“Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2025 (April, May, and June), according to the advance estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP decreased 0.5 percent,” stated the BEA.
Compared to the previous quarter, there was a notable downturn in imports and an acceleration in consumer spending, although investment declined.
Real final sales to private domestic purchasers—which combine consumer spending and gross private fixed investment—rose by 1.2 percent in the second quarter after increasing by 1.9 percent in the first quarter.
Inflation measures showed slower growth than earlier this year. The price index for gross domestic purchases increased by 1.9 percent compared with a rise of 3.4 percent last quarter. The personal consumption expenditures (PCE) price index rose by 2.1 percent after a previous increase of 3.7 percent; excluding food and energy prices, it went up by 2.5 percent compared with an earlier gain of 3.5 percent.
“Real GDP increased at an annual rate of 3.0 percent (0.7 percent at a quarterly rate) in the second quarter, primarily reflecting a decrease in imports and an increase in consumer spending that were partly offset by decreases in investment and exports,” according to technical notes provided by BEA.
Trade data for exports and imports largely reflected figures from Census Bureau-BEA U.S. International Trade reports as well as preliminary economic indicators for June from the Census Bureau.
The drop in imports was mainly due to lower goods imports—especially nondurable consumer goods such as medicinal and pharmaceutical products—while export declines centered on automotive vehicles, engines, and parts.
Consumer spending increases covered both services and goods categories; health care, food services and accommodations, financial services, motor vehicles, and pharmaceuticals all contributed significantly based on various industry data sources including employment statistics from BLS Current Employment Statistics (CES), retail sales reports from Census Bureau Monthly Retail surveys, IHS-Polk vehicle registration data, and other market research sources.
Within investment components, private inventory investment fell sharply due to lower inventories held by manufacturers—particularly chemical manufacturing—and wholesale trade sectors impacted across durable goods industries.
For further details about statistical conventions or updates related to GDP estimates or national economic accounts data—including definitions or scheduled releases—readers can visit BEA’s official website through their "Additional Information" page: https://www.bea.gov/data/gdp/gross-domestic-product
The next update for these figures is scheduled for August 28, 2025.