September 26, 2025

Split Personal Income and Outlays, October 2025 and Gross Domestic Product by State and Personal Income by State, 2nd quarter 2025 and Personal Consumption Expenditures by State, 2024

Personal Income and Outlays, August 2025

Personal income increased $95.7 billion (0.4 percent at a monthly rate) in August, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $86.1 billion (0.4 percent) and personal consumption expenditures (PCE) increased $129.2 billion (0.6 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $132.9 billion in August. Personal saving was $1.06 trillion in August and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.6 percent.

Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2025 and Personal Consumption Expenditures by State, 2024

Real gross domestic product (GDP) increased in 48 states in the second quarter of 2025. State-level changes ranged from a 7.3 percent increase in North Dakota to a 1.1 percent decline in Arkansas.

Personal income increased in all 50 states and the District of Columbia in the second quarter of 2025. State-level changes ranged from a 10.4 percent increase in Kansas to a 0.9 percent increase in Arkansas.

Personal consumption expenditures (PCE) increased in all 50 states and the District of Columbia in 2024. State-level changes in PCE ranged from a 7.0 percent increase in Florida to a 4.3 percent increase in Mississippi.

Principal Federal Economic Indicators

Gross Domestic Product
Q2 2025 (3rd)
+3.8%
Personal Income
August 2025
+0.4%
International Trade in Goods and Services
July 2025
-$78.3 B
International Transactions
Q2 2025
-$251.3 B

Noteworthy

The Latest

New Foreign Direct Investment in the United States, 2019

| The BEA Wire

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $194.7 billion in 2019, down 37.7 percent from $312.5 billion in 2018.

New Foreign Direct Investment in the United States, 2019

| News Release

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $194.7 billion in 2019, down 37.7 percent from $312.5 billion in 2018.

U.S. International Investment Position Year 2019

| The BEA Wire

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$11.05 trillion at the end of 2019, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $29.15 trillion and liabilities were $40.20 trillion. At the end of 2018, the net investment position was –$9.67 trillion.

U.S. International Investment Position First Quarter 2020

| The BEA Wire

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$12.06 trillion at the end of the first quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis. Assets totaled $26.77 trillion and liabilities were $38.82 trillion. At the end of the fourth quarter of 2019, the net investment position was –$11.05 trillion.

U.S. International Investment Position, First Quarter 2020, Year 2019, and Annual Update

| News Release

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$12.06 trillion at the end of the first quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $26.77 trillion and liabilities were $38.82 trillion. At the end of the fourth quarter of 2019, the net investment position was –$11.05 trillion.

Personal Income and Outlays, May 2020

| The BEA Wire

Personal Income Personal income decreased 4.2 percent while consumer spending increased 8.2 percent in May, according to estimates released today by the Bureau of Economic Analysis.

Personal Income and Outlays: May 2020

| News Release

Personal income decreased 4.2 percent while consumer spending increased 8.2 percent in May, according to estimates released today by the Bureau of Economic Analysis.

Gross Domestic Product, First Quarter 2020

| The BEA Wire

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. The decline is the same as in the “second” estimate released in May. In the fourth quarter of 2019, real GDP increased 2.1 percent. For more information, see the Technical Note.

Gross Domestic Product, 1st Quarter 2020 (Third Estimate); Corporate Profits, 1st Quarter 2020 (Revised Estimate)

| News Release

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. The decline is the same as in the “second” estimate released in May. In the fourth quarter of 2019, real GDP increased 2.1 percent.

Personal Income by State, 1st Quarter 2020

| The BEA Wire

State personal income increased 2.3 percent at an annual rate in the first quarter of 2020, a deceleration from the 3.6 percent increase in the fourth quarter of 2019. The percent change in personal income across all states ranged from 4.9 percent in New Mexico to -0.3 percent in Michigan.