June 27, 2025

Split Personal Income and Outlays, May 2025 and Gross Domestic Product by State and Personal Income by State, 1st Quarter 2025

Personal Income and Outlays, May 2025

Personal income decreased $109.6 billion (0.4 percent at a monthly rate) in May, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—decreased $125.0 billion (0.6 percent) and personal consumption expenditures (PCE) decreased $29.3 billion (0.1 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—decreased $27.6 billion in May. Personal saving was $1.01 trillion in May and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.5 percent.

Gross Domestic Product by State and Personal Income by State, 1st Quarter 2025

Real gross domestic product decreased in 39 states in the first quarter of 2025, with the percent change ranging from 1.7 percent at an annual rate in South Carolina to –6.1 percent in Iowa and Nebraska.

Personal income, in current dollars, increased in all 50 states and the District of Columbia in the first quarter of 2025, with the percent change ranging from 12.7 percent at an annual rate in North Dakota to 3.2 percent in Washington state.

Principal Federal Economic Indicators

Gross Domestic Product
Q1 2025 (3rd)
-0.5%
Personal Income
May 2025
-0.4%
International Trade in Goods and Services
April 2025
-$61.6 B
International Transactions
Q1 2025
-$450.2 B

Noteworthy

The Latest

Personal Income Rises in March

April 29, 2016 | The BEA Wire

Personal income increased 0.4 percent in March after increasing 0.1 percent in February. Wages and salaries, the largest component of personal income, increased 0.4 percent in March after decreasing 0.1 percent in February.

Personal Income and Outlays, March 2016

April 29, 2016 | News Release

Personal income increased $57.4 billion, or 0.4 percent, and disposable personal income (DPI) increased $50.4 billion, or 0.4 percent, in March, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $12.8 billion, or 0.1 percent.

GDP Increases in First Quarter

April 28, 2016 | The BEA Wire

Real gross domestic product (GDP) increased 0.5 percent in the first quarter of 2016, according to the “advance” estimate released today by the Bureau of Economic Analysis. In the fourth quarter of 2015, real GDP increased 1.4 percent.

Gross Domestic Product, 1st quarter 2016 (advance estimate)

April 28, 2016 | News Release

Real gross domestic product -- the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 0.5 percent in the first quarter of 2016, according to the "advance" estimate released by the Bureau of Economic Analysis.

Industry in Focus: What's the Economic Impact of the Information Industry?

April 21, 2016 | The BEA Wire

The Information industry, more than just about any other industry, illustrates just how much the U.S. economy has changed over time. Not all that long ago, in previously used industry classification systems, the information sector didn’t have its own category.  Many of its activities fell under other industries such as manufacturing, communications, and business services, but weren’t always separately identified.

Information Services Led Growth in the Fourth Quarter

April 21, 2016 | The BEA Wire

Information; construction; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2015. Overall, 16 of 22 industry groups contributed to the 1.4 percent increase in real GDP in the fourth quarter.

Gross Domestic Product by Industry, 4th quarter and annual 2015

April 21, 2016 | News Release

Information; construction; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2015. According to statistics on the breakout of gross domestic product (GDP) by industry released today by the Bureau of Economic Analysis (BEA), overall, 16 of 22 industry groups contributed to the 1.4 percent increase in real GDP in the fourth quarter.

BEA to Host Webinar on Wednesday to Explain Change Simplifying How Private Funds Report

April 18, 2016 | The BEA Wire

The Bureau of Economic Analysis and the Treasury Department are preparing to implement a change that will simplify how certain cross-border investments by or into private funds are reported on Treasury International Capital, or TIC, surveys of portfolio investment and BEA surveys of direct investment.

Statistics on Federal Refundable Tax Credits for Every State Now Available

April 6, 2016 | The BEA Wire

For years, BEA has provided state-by-state information on people’s incomes, which includes refundable tax credits and rebates. But BEA did not break out the refundable tax credit statistics.

Now, for the first time, BEA is making available the amounts and types of federal refundable tax credits broken out for each state, giving policymakers, researchers and academics a new tool for economic analysis.

February 2016 Trade Gap is $47.1 Billion

April 5, 2016 | The BEA Wire

The U.S. monthly international trade deficit increased in February 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $45.9 billion in January (revised) to $47.1 billion in February, as imports increased more than exports. The previously published January deficit was $45.7 billion. The goods deficit increased $0.9 billion from January to $64.7 billion in February. The services surplus…