BEA lifts Q2 GDP to 2.2% in the third estimate; August income rose 0.2%

Real U.S. gross domestic product increased at a 2.2% annual rate in the second quarter of 2026, the Bureau of Economic Analysis said in its third estimate released at 8:30 a.m. EDT on September 30, 2026. That is 0.7 percentage point higher than the second estimate of 1.5%. In the same release window, BEA said personal income rose 0.2% in August and the PCE price index climbed 0.3% from July and 3.4% from a year earlier.

The Bureau of Economic Analysis published the third estimate of second-quarter 2026 GDP and the August personal income and outlays report together at 8:30 a.m. EDT on Wednesday, September 30, 2026. Both prints are agency primary releases — BEA 26-42 for GDP and BEA 26-43 for personal income — not wire paraphrases.

Q2 GDP revised up to 2.2%

Real GDP increased at an annual rate of 2.2% in the second quarter (April, May, and June), BEA said. The first-quarter pace was 2.5% after revision.

The third estimate revises real GDP up 0.7 percentage point from the second estimate of 1.5%. The advance estimate had also been 1.5%. BEA said the upward revision primarily reflected higher investment, consumer spending, and government spending than in the prior round.

Consumer spending, investment, and exports contributed to the second-quarter increase. Imports, which subtract in the GDP accounts, also rose.

Domestic demand, income, and prices in the quarter

Real final sales to private domestic purchasers — consumer spending plus gross private fixed investment — increased 4.6% in the second quarter, revised up 0.4 percentage point from the previous estimate.

Real gross domestic income increased 2.6%, revised up 0.4 percentage point. The average of real GDP and real GDI rose 2.4%, revised up 0.6 percentage point.

Profits from current production increased $384.0 billion in the second quarter, revised down $16.9 billion from the prior estimate.

The price index for gross domestic purchases increased 5.6% in the second quarter, revised down 0.2 percentage point. The PCE price index increased 5.0%, revised down 0.3 percentage point, and the PCE price index excluding food and energy increased 3.3%, also revised down 0.3 percentage point. Current-dollar GDP rose 8.5% in the third estimate, after 7.9% in the advance and 8.0% in the second.

August personal income and spending

In the companion monthly report, personal income increased $66.6 billion, or 0.2% at a monthly rate, in August. Disposable personal income rose $68.6 billion, or 0.3%. Personal consumption expenditures increased $190.8 billion, or 0.9%, with goods up $114.1 billion and services up $76.7 billion.

Personal outlays rose $190.7 billion. Personal saving was $990.2 billion, and the personal saving rate was 4.1% of disposable personal income.

Real PCE increased $92.8 billion, or 0.6%, in August. From July, the PCE price index rose 0.3% and the index excluding food and energy rose 0.2%. From a year earlier, the PCE price index was up 3.4% and the core measure was up 3.0%.

BEA said the August release incorporates the annual update of the National Economic Accounts, with revisions to personal income and outlays beginning with January 2021. The next personal income and outlays release is scheduled for October 29, 2026, at 8:30 a.m. EDT.

Why the third estimate matters

A third GDP estimate locked in a larger revision than a one-tenth tweak: BEA moved the second-quarter real GDP run-rate from 1.5% to 2.2% while still showing a slower pace than the revised first-quarter 2.5%. The same morning's August income and PCE-price print adds the latest monthly read on household income, spending, and inflation after that quarterly revision.

Sources & evidence

- [BEA GDP (Third Estimate), Q2 2026 — news release (BEA 26-42)](https://www.bea.gov/news/2026/gdp-third-estimate-industries-corporate-profits-state-gdp-and-state-personal-income-2nd) — Real GDP +2.2% SAAR; +0.7 ppt revision from second; Q1 +2.5%; domestic sales, GDI, profits, and quarterly PCE price detail. - [BEA GDP Q2 2026 third estimate — full PDF](https://www.bea.gov/sites/default/files/2026-09/gdp2q26-3rd.pdf) — Embargoed-until 8:30 a.m. EDT Sept. 30, 2026 text and tables matching the news release. - [BEA Personal Income and Outlays, August 2026 (BEA 26-43)](https://www.bea.gov/news/2026/personal-income-and-outlays-august-2026) — August income +0.2%; DPI +0.3%; PCE +0.9% current / +0.6% real; PCE prices +0.3% m/m and +3.4% y/y.