GDP, (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 1st Quarter 2026

Real gross domestic product increased at an annual rate of 2.1 percent in the first quarter of 2026, according to the third estimate from the U.S. Bureau of Economic Analysis, an upward revision from the prior reading [1]. The revision was 0.5 percentage point higher than the second estimate, driven largely by a downward adjustment to imports, which are subtracted in GDP calculations, partly offset by a downward revision to consumer spending [1]. In the fourth quarter of 2025, real GDP had risen 0.5 percent [1]. From an industry perspective, the leading contributors to the increase were information, the federal government, professional, scientific, and technical services, and durable goods manufacturing. Offsetting declines were recorded in retail trade, wholesale trade, and finance and insurance [1]. Real final sales to private domestic purchasers, which strips out trade and inventory effects, increased 1.7 percent in the first quarter, a downward revision of 0.7 percentage point from the previous estimate [1]. Corporate profits from current production increased $74.4 billion in the first quarter, an upward revision of $34.0 billion [1]. The price index for gross domestic purchases rose 3.6 percent, while the personal consumption expenditures price index increased 4.6 percent, both revised up 0.1 percentage point [1]. The U.S. economy remains the world's largest by nominal GDP, generating roughly 26 percent of global economic output [2]. GDP is a monetary measure of the total market value of final goods and services produced during a specific period and is commonly used to gauge economic activity, though it does not account for income distribution or overall well-being [3]. Consumer spending, which has comprised between 60 and 70 percent of the U.S. economy since the 1990s, is a central driver of growth [2]. The nation's diversified economy is also supported by high productivity, extensive natural resources, and a large consumer market [2]. At the state level, real GDP increased in 46 states and the District of Columbia. Washington state posted the strongest growth at 4.5 percent, led by the information sector, while South Dakota recorded a 1.6 percent contraction, weighed down by agriculture, forestry, fishing, and hunting [1]. Current-dollar personal income rose $222.6 billion, or 3.4 percent at an annual rate, with increases in 49 states. North Dakota led with a 22.4 percent surge, while Hawaii saw a 23.9 percent decline, reflecting a settlement paid to households in the fourth quarter of 2025 related to the 2023 Maui wildfire [1].