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May 29, 2025US GDP 2025 Q1 (SECOND ESTIMATE) 
The Bureau of Economic Analysis released revised estimates of Q1 US Real Gross Domestic Product (GDP).
US real GDP growth was estimated at -0.2% (seasonally adjusted annualized rate) for Q1 2025 in the revised estimate. This remained the first quarterly contraction since Q1 2022.
The decrease in real GDP was driven by increases in imports (+42.6%), which are subtracted from GDP, and declines in federal government defence spending (-7.1%), non-defence spending (-1.1%), and residential investment (-0.6%). These were partially offset by increases in exports (+2.4%), state and local government spending (+1.7%), and non-residential investment (+10.3%).
Current-dollar GDP growth was revised down to 3.4% (annualized rate) following a 4.8% current-dollar GDP increase in Q4 2024.
Private inventory investment was revised to $163.0 billion net accumulation.
Source: US Bureau of Economic Analysis, retrieved from Federal Reserve Bank of St. Louis.
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