April 30, 2025

Personal Income and Outlays, March 2025/ Gross Domestic Product, 1st Quarter 2025 (Advance Estimate)

Gross Domestic Product, 1st Quarter 2025 (Advance Estimate)

Real gross domestic product (GDP) decreased at an annual rate of 0.3 percent in the first quarter of 2025 (January, February, and March), according to the advance estimate released by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2024, real GDP increased 2.4 percent. The decrease in real GDP in the first quarter primarily reflected an increase in imports, which are a subtraction in the calculation of GDP, and a decrease in government spending. These movements were partly offset by increases in investment, consumer spending, and exports.

Personal Income and Outlays, March 2025

Personal income increased $116.8 billion (0.5 percent at a monthly rate) in March, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $102.0 billion (0.5 percent) and personal consumption expenditures (PCE) increased $134.5 billion (0.7 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $136.6 billion in March. Personal saving was $872.3 billion in March and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.9 percent.

Principal Federal Economic Indicators

Gross Domestic Product
Q1 2025 (Adv)
-0.3%
Personal Income
March 2025
+0.5%
International Trade in Goods and Services
February 2025
-$122.7 B
International Transactions
Q4 2024
-$303.9 B

Noteworthy

The Latest

New Foreign Direct Investment in the United States, 2021

July 6, 2022 | News Release

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $333.6 billion (preliminary) in 2021.

Gross Domestic Product by State, 1st Quarter 2022

June 30, 2022 | The BEA Wire

Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022, as real GDP for the nation decreased at an annual rate of 1.6 percent. The percent change in real GDP in the first quarter ranged from 1.2 percent in New Hampshire to –9.7 percent in Wyoming.

Gross Domestic Product by State, 1st Quarter 2022

June 30, 2022 | News Release

Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022, as real GDP for the nation decreased at an annual rate of 1.6 percent. The percent change in real GDP in the first quarter ranged from 1.2 percent in New Hampshire to –9.7 percent in Wyoming.

Personal Income and Outlays, May 2022

June 30, 2022 | The BEA Wire

Personal income increased $113.4 billion, or 0.5 percent at a monthly rate, while consumer spending increased $32.7 billion, or 0.2 percent, in May. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 5.4 percent in May, compared with 5.2 percent in April.

Personal Income and Outlays, May 2022

June 30, 2022 | News Release

Personal income increased $113.4 billion, or 0.5 percent at a monthly rate, while consumer spending increased $32.7 billion, or 0.2 percent, in May. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 5.4 percent in May, compared with 5.2 percent in April.

Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, First Quarter 2022

June 29, 2022 | The BEA Wire

Real gross domestic product (GDP) decreased at an annual rate of 1.6 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the “second” estimate released in May. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. For more details, including…

Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), First Quarter 2022

June 29, 2022 | News Release

Real gross domestic product (GDP) decreased at an annual rate of 1.6 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the "second" estimate released in May. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. Profits decreased 2.…

U.S. International Investment Position, First Quarter 2022

June 28, 2022 | The BEA Wire

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$17.75 trillion at the end of the first quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $34.00 trillion, and liabilities were $51.75 trillion. At the end of the fourth quarter of 2021, the net investment position was –$18.12 trillion.

U.S. International Investment Position, First Quarter 2022 and Annual Update

June 28, 2022 | News Release

The U.S. net international investment position (IIP), the difference between U.S. residents’ foreign financial assets and liabilities, was -$17.75 trillion at the end of the first quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $34.00 trillion, and liabilities were $51.75 trillion. At the end of the fourth quarter of 2021, the net investment position was -$18.12 trillion.

U.S. Current-Account Deficit Widens in First Quarter 2022

June 23, 2022 | The BEA Wire

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $66.6 billion, or 29.6 percent, to $291.4 billion in the first quarter of 2022. The widening mostly reflected an increased deficit on goods. The first-quarter deficit was 4.8 percent of current-dollar gross domestic product, up from 3.7 percent in the fourth…