Biggest Market Movers
US GDP
Track U.S. economic growth, GDP revisions, consumer spending, business investment, government spending, trade and the economic forces influencing Federal Reserve policy and global financial markets.
Real GDP and component data are retrieved from official U.S. Bureau of Economic Analysis (BEA) series and public FRED releases.
Latest available data
U.S. GDP Snapshot
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Release schedule
Next GDP Release
The next BEA GDP release is determined from the official release schedule and updates automatically as the calendar changes.
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Historical GDP
US GDP Growth
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Estimate comparisons
GDP Estimate History
| Quarter | Advance | Second | Third | Latest |
|---|---|---|---|---|
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Latest release
Latest GDP Release
The latest available BEA estimate and key expenditure components are shown below.
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GDP price indexData currently unavailable
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GDP drivers
What Drove GDP Growth?
Consumer SpendingData currently unavailableDirection unavailable
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Expenditure approach
GDP Component Dashboard
Consumer SpendingData currently unavailableBEA / FRED
Business InvestmentData currently unavailableBEA / FRED
Residential InvestmentData currently unavailableBEA / FRED
Government SpendingData currently unavailableBEA / FRED
ExportsData currently unavailableBEA / FRED
ImportsData currently unavailableBEA / FRED
Net ExportsData currently unavailableBEA / FRED
InventoriesData currently unavailableBEA / FRED
Price-adjusted output
Real GDP vs Nominal GDP
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Real GDP measures output after adjusting for price changes. Nominal GDP measures output at current prices and reflects inflation as well as volume changes.
Price metric
GDP Price Index
Latest changeData currently unavailableQuarterly change
Previous changeData currently unavailablePrior period
Latest levelData currently unavailableIndex level
The GDP price index is a broad measure of inflation across the domestic economy. It differs from CPI and PCE, which track consumer prices and are not identical to the economy-wide GDP deflator.
Macro definitions
GDP vs PCE and CPI
| Metric | GDP | PCE | CPI |
|---|---|---|---|
| What it measures | Domestic output and production | Consumer spending and prices | Consumer price basket |
| Published by | BEA | BEA / BLS | BLS |
| Frequency | Quarterly | Monthly and quarterly | Monthly |
| Used for | Growth and production trends | Inflation and spending | Consumer inflation |
Fed context
Why GDP Matters to the Federal Reserve
Real GDP growth helps frame the pace of economic expansion, while inflation, labor-market strength and financial conditions inform the policy backdrop. Stronger-than-expected growth can influence expectations for monetary policy, particularly when it coincides with persistent inflation or tight financial conditions.
National accounts
GDP and the Labor Market
GDP GrowthData currently unavailableQuarterly rate
NFP GrowthData currently unavailableSource: BLS
Unemployment RateData currently unavailableSource: BLS
GDP and labor-market data provide different perspectives on the economy. Output growth shows production, while employment data captures labour-market conditions and demand for workers.
EconomicLab Analysis
GDP Growth and Inflation
Real GDP growth and inflation are related through demand, labor-market conditions, and the supply side of the economy, but they do not move in lockstep. Higher production can coexist with moderate inflation, while slower growth may still coincide with elevated prices depending on the underlying mix of spending, investment and supply constraints.
Real GDP GrowthData currently unavailable
PCE InflationData currently unavailable
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Market transmission
How GDP Can Move Financial Markets
US Dollar
A GDP surprise can change expectations around growth, inflation and monetary policy, which may alter the dollar.
Treasury Yields
Growth and inflation expectations often influence yields across the curve depending on the policy backdrop.
Gold
Gold may respond to real yields, dollar strength and changing growth expectations.
Equities & Bitcoin
Risk assets can react to changes in growth and policy expectations, though reactions are not guaranteed.
Official release calendar
GDP Release Calendar
| Release type | Quarter | Date | Time |
|---|---|---|---|
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Data revisions
GDP Revisions
BEA revises GDP as more complete source data become available. Historical values reflect the latest available BEA estimates where vintage data are not separately provided.
| Quarter | Initial release | Latest estimate | Revision |
|---|---|---|---|
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Traceability