---
source: U.S. Bureau of Economic Analysis
url: https://www.bea.gov/news/2026/gdp-advance-estimate-1st-quarter-2026
document_type: html
date_retrieved: 2026-04-30
period: Q1 2026 (January-March)
parent_publication: GDP (Advance Estimate), 1st Quarter 2026
indicators_covered: [Real Consumer Spending, GDP Growth Rate QoQ, GDP Sales QoQ]
---

# Gross Domestic Product (Advance Estimate), Q1 2026

**Release Date:** April 30, 2026 (Embargoed 8:30 a.m. EDT)  
**BEA Release Number:** 26—21

## Executive Summary

Real gross domestic product increased at an annual rate of **2.0 percent** in the first quarter of 2026, according to the advance estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent.

### Key Contributors to the Increase

The contributors to the increase in real GDP in the first quarter were **investment, exports, consumer spending, and government spending**. Imports, which are a subtraction in the calculation of GDP, also increased.

Compared to the fourth quarter of 2025, the acceleration in real GDP in the first quarter of 2026 reflected **upturns in government spending and exports, and an acceleration in investment** that were partly offset by a deceleration in consumer spending. Imports turned up.

## Detailed Table: Real GDP and Related Measures

| Measure | Q1 2026 Advance |
|---------|----------------|
| Real GDP | **2.0%** SAAR |
| Current-dollar GDP | 5.6% SAAR |
| Real final sales to private domestic purchasers | 2.5% SAAR |
| Gross domestic purchases price index | 3.6% SAAR |
| PCE price index | 4.5% SAAR |
| PCE price index excluding food and energy | 4.3% SAAR |

*SAAR = Seasonally Adjusted Annual Rate*

## Indicator-Specific Details

### Real Consumer Spending (included in "consumer spending" above)
Consumer spending contributed to GDP growth in Q1 2026, though it decelerated relative to Q4 2025. Real final sales to private domestic purchasers (the sum of consumer spending and gross private fixed investment) increased 2.5 percent in the first quarter, compared with 1.8 percent in the fourth quarter.

### GDP Growth Rate QoQ (Advance)
**Headline figure: 2.0%** (annualized rate, advance estimate). This represents an acceleration from the 0.5 percent growth recorded in Q4 2025 and exceeded the consensus forecast of 2.3% reported in market expectations at the time.

### GDP Sales QoQ (Final Sales)
Real final sales of domestic product (GDP less change in private inventories) increased at a 1.6 percent annual rate in Q1 2026 based on the advance estimate. This compares to a 0.3 percent increase in Q4 2025. The measure reflects final demand excluding inventory buildup.

## Technical Notes: Sources of Change

**Investment:** Increase reflected equipment (notably computers and peripheral equipment), intellectual property products (software), and private inventory investment (retail and wholesale trade). Decreases in residential and nonresidential structures partially offset gains.

**Exports:** Increase in goods exports, led by computers, peripherals, and parts, and industrial supplies and materials. BEA identified and removed an increase in exports of silver bars used as investment from the industrial supplies category.

**Government spending:** Upturn contributed to acceleration vs. Q4.

**Imports:** Turned up in Q1, subtracting from GDP calculation.

**PCE Price Index:** Increased 4.5 percent in Q1, compared with 2.9 percent in Q4. Core PCE (excluding food and energy) increased 4.3 percent, compared with 2.7 percent in Q4, indicating intensifying inflationary pressures.

## Next Release

Second Estimate and Corporate Profits: **May 28, 2026, at 8:30 a.m. EDT**

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*All values extracted directly from the BEA news release. Full technical notes and source data tables are available in the original HTML publication.*