Real gross domestic product (GDP) increased at an annual rate of 3.8 percent in the second quarter of 2025 (April, May, and June), according to the third estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP decreased 0.6 percent (revised).

Real GDP was revised up 0.5 percentage point from the second estimate, primarily reflecting an upward revision to consumer spending. For more information, refer to the "Technical Notes" below.

From an industry perspective, the increase in real GDP reflected increases of 10.2 percent in real value added for private goods-producing industries and 3.5 percent for private services-producing industries that were partly offset by a decrease of 3.2 percent in real value added for government.