US economy grows 2.1% in Q1, revised up from previous estimate

The US economy grew at an annual rate of 2.1% in the first quarter of 2026, revised up from the previous estimate of 1.6%, according to the Bureau of Economic Analysis on Thursday.

The upward revision primarily reflected a downward revision to imports, which are a subtraction in the calculation of the gross domestic product (GDP), that was partly offset by a downward revision to consumer spending.

In the fourth quarter of 2025, real gross domestic product had increased 0.5%.

The contributors to the first-quarter GDP increase were investment, exports, government spending and consumer spending. Imports, which subtract from GDP calculations, also increased.

From an industry perspective, real value added rose 7.5% for government, 4.5% for private goods-producing industries and 0.8% for private services-producing industries.

The leading industry contributors to the GDP increase were information, federal government, professional, scientific and technical services, and durable goods manufacturing. The main offsets came from retail trade, wholesale trade, and finance and insurance.

Real final sales to private domestic purchasers, a measure of underlying domestic demand that combines consumer spending and gross private fixed investment, increased 1.7% in the first quarter, revised down 0.7 percentage point from the previous estimate.

Real gross domestic income increased 1.2%, revised up 0.3 percentage point, while the average of real GDP and real GDI rose 1.7%.