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October 29, 2026US GDP 2026 Q3 (ADVANCED ESTIMATE) US GDP 2026 Q3 (ADVANCED ESTIMATE)
The Bureau of Economic Analysis has released its first estimate of Q3 US Real Gross Domestic Product (GDP).
US real GDP growth was estimated at 3.4% (seasonally adjusted annualized rate) for Q3 2026.
The increase in real GDP was driven by gains in non-residential investment (+12.7%), federal government defence spending (+11.7%), federal non-defence spending (+22.2%), and personal consumption expenditures (+3.8%). These gains were partially offset by a decline in residential investment (-5.7%) and higher imports (+19.7%).
Current-dollar GDP growth was up to 5.6% (annualized rate) in the first estimate, following a 8.5% current-dollar GDP increase in Q2 2026.
Private inventory investment was estimated at $20.3 billion net accumulation in the first estimate of Q3 2026, compared to Q2 2026 inventory investment accumulation of -$63.4 billion. This breaks a run of five consecutive quarter of net inventory drawdown, the longest net inventory drawdown since 2009.
Source: US Bureau of Economic Analysis, retrieved from Federal Reserve Bank of St. Louis.
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