US GDP Q2 2026 rises 1.5% in second estimate
The U.S. Bureau of Economic Analysis released its second estimate of real GDP for the second quarter of 2026, showing a 1.5% annualized increase, down from 2.1% in the first quarter. Corporate profits jumped to $400.9 billion, a sharp rise from $74.4 billion in Q1. The release also details price index changes, income measures, and the start of 2026 annual updates for national and regional accounts.
The U.S. Bureau of Economic Analysis (BEA) today released the second estimate of real gross domestic product (GDP) for the second quarter of 2026. Real GDP increased at an annual rate of 1.5 percent, a slight downward revision of less than 0.1 percentage point from the advance estimate. In comparison, the first quarter saw a 2.1 percent rise.
Growth Drivers and Offset Factors
The growth in real GDP was driven by higher consumer spending, exports, and investment. However, a decline in government spending and a slowdown in investment and exports partially offset these gains. Imports, which subtract from GDP, rose more sharply in Q2 than in Q1.
The BEA noted that the upward revision to consumer spending was largely due to services, especially health care, while a downward revision to goods, led by recreational goods and vehicles, and energy goods, tempered the increase. Imports were revised upward, led by other goods, including a territorial adjustment for Puerto Rico.
| Measure | Q2 2026 | Q1 2026 |
|---|---|---|
| Real GDP growth (annualized) | 1.5 % | 2.1 % |
| Real GDI growth | 2.2 % | 1.2 % |
| Average of real GDP and GDI | 1.8 % | 1.7 % |
Price Inflation and Income Measures
The price index for gross domestic purchases climbed 5.8 percent in Q2, revised up 0.1 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index rose 5.3 percent, revised up 0.2 percentage point, while the core PCE index (excluding food and energy) increased 3.6 percent, also revised up 0.2 percentage point.
Real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, grew 4.2 percent in Q2, revised up 0.3 percentage point from the prior estimate.
Corporate Profits Surge
Profits from current production, which include corporate profits with inventory valuation and capital consumption adjustments, surged to $400.9 billion in Q2. This represents a dramatic increase from $74.4 billion in Q1.
| Corporate Profits | Q2 2026 | Q1 2026 |
|---|---|---|
| Current production profits | $400.9 billion | $74.4 billion |
2026 Annual Updates
The BEA announced that the 2026 annual updates of national, industry, and regional data will begin on September 30, 2026, the same day for the first time. The updates will include GDP, gross domestic income, industry breakdowns, monthly personal income and outlays, and related statistics in the National Income and Product Accounts and the Industry Economic Accounts. Regional updates will cover state and county GDP, personal income, and related metrics.
The next release of GDP data will supersede today’s figures. The BEA’s Interactive Data Application will reflect the latest data, while the original data can be accessed in the BEA Data Archive.
The release is scheduled for September 30, 2026, at 8:30 a.m. EDT, and will include GDP (Third Estimate), Industries, Corporate Profits, State GDP, State Personal Income, State PCE, and 2025 data.
