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April 30, 2025US GDP 2025 Q1 (ADVANCED ESTIMATE) 
The Bureau of Economic Analysis released advance estimates of Q1 US Real Gross Domestic Product (GDP).
US real GDP growth was estimated at -0.3% (seasonally adjusted annualized rate) for Q1 2025 in the advanced estimate. This was the first quarterly contraction since Q1 2022.
The decrease in real GDP was driven by increases in imports (+41.3%), which are subtracted from GDP, and declines in federal government defence spending (-8.0%) and non-defence spending (-1.0%). These were partially offset by increases in exports (+1.8%), state and local government spending (+0.8%), residential investment (+1.3%), and non-residential investment (+9.8%)
Current-dollar GDP growth was 3.5% (annualized rate) following a 4.8% current-dollar GDP increase in Q4 2024.
Private inventory investment was estimated at $140.1 billion net accumulation.
Source: US Bureau of Economic Analysis, retrieved from Federal Reserve Bank of St. Louis.
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