Gross Domestic Product, Second Quarter 2021 (Advance Estimate) and Annual Update

Q2 2021 (Adv)
+6.5%
Q1 2021 (3rd)
+6.3%

Real gross domestic product (GDP) increased at an annual rate of 6.5 percent in the second quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined. In the first quarter of 2021, real GDP increased 6.3 percent (revised).

  • Current release: July 29, 2021
  • Next release: August 26, 2021

What is Gross Domestic Product?

A comprehensive measure of U.S. economic activity. GDP measures the value of the final goods and services produced in the United States (without double counting the intermediate goods and services used up to produce them). Changes in GDP are the most popular indicator of the nation's overall economic health.

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