BEA Reports U.S. Real GDP in Q4 2025 Increased at an Annual Rate of 0.7%

The Bureau of Economic Analysis (BEA) on Friday (3-13-26), released its “Second” estimate for Q4 of 2025 (October, November and December), real gross domestic product (GDP). In Q3 2025, real GDP increased 4.4%.

Real GDP was revised down 0.7% from the “Advance” estimate, reflecting downward revisions to exports, consumer spending, government spending, and investment. Imports decreased less than previously estimated.

Compared to the Q3 2025 , the deceleration in real GDP in Q4 2025 reflected downturns in government spending and exports and a deceleration in consumer spending that were partly offset by an acceleration in investment. The decrease in imports was smaller than in the previous quarter.

In addition, the BEA is reporting that real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, increased 1.9% in Q4 2025, revised down by 0.5% from the “Advance” estimate.

The price index for gross domestic purchases increased 3.8 % in Q4, revised up 0.1 percentage point from the “Advanced” estimate. The personal consumption expenditures (PCE) price index increased 2.9%, the same as previously estimated. Excluding food and energy prices, the PCE price index increased 2.7%, also the same as previously estimated.