US GDP growth is revised up to 2.2% for the second quarter from 1.5% in the third estimate

US real gross domestic product increased at an annual rate of 2.2% in the second quarter of 2026, according to the third estimate the Bureau of Economic Analysis published on 30 September. The advance and second estimates had both shown 1.5%. First-quarter growth was revised to 2.5%.

What changed

Real GDP was revised up by 0.7 percentage point from the second estimate, "primarily reflecting upward revisions to investment, consumer spending, and government spending." The contributors to growth were consumer spending, investment and exports. Imports, which subtract from GDP, increased.

• Real final sales to private domestic purchasers, the sum of consumer spending and private fixed investment: +4.6%, revised up by 0.4 point
• Real gross domestic income (GDI): +2.6%, revised up by 0.4 point
• Average of real GDP and real GDI: +2.4%, revised up by 0.6 point
• Current-dollar GDP: +8.5%
• Corporate profits from current production: +$384.0 billion, revised down by $16.9 billion

Prices were revised down

The PCE price index rose 5.0% at an annual rate in the quarter, revised down by 0.3 point, and the PCE price index excluding food and energy rose 3.3%, also revised down by 0.3 point. The price index for gross domestic purchases rose 5.6%.

By industry and by state

Real value added rose 2.5% for private services-producing industries, 2.3% for private goods-producing industries and less than 0.1% for government. Real estate and rental and leasing, information, durable goods manufacturing, and finance and insurance contributed most; transportation and warehousing, retail trade and nondurable goods manufacturing were the largest offsets. Real GDP rose in 44 states and the District of Columbia, from 4.0% in New York to −2.3% in West Virginia.

Why the timing matters

BEA published its annual update of the National Economic Accounts on the same day, which is why monthly personal income and spending figures were also revised (PCE report). The upward revision to a quarter that ended in June arrived after the Fed raised rates on 16 September (report) and alongside a weak September jobs report (report). Growth is a backward-looking measure; traders weigh it against surveys such as the ISM (report) and against inflation. GDP explained for forex traders shows how quarterly, annualized and monthly growth compare.

What happens next

The advance estimate for the third quarter is due on 29 October at 8:30 a.m. Eastern Time.