Commerce Department Lifts Q2 U.S. Growth Estimate To 2.2 Percent
The Commerce Department on Wednesday, September 30, 2026, revised U.S. second-quarter GDP to a 2.2 percent annualized rate, up from a prior 1.5 percent estimate, signaling stronger growth than first reported.[1]
Consumer spending increased at a 3.8 percent annual rate in the second quarter, after rising just 0.7 percent in the first quarter.[1] Business investment excluding housing rose at a 9 percent annual rate.[1] Imports rose 12.6 percent and subtracted nearly 1.7 percentage points from GDP.[1]
The revision is the Commerce Department's third and final estimate for second-quarter 2026 GDP.[1] A core domestic-demand measure excluding government and trade grew at a 4.6 percent annual rate, and housing investment rose 2.8 percent, its first gain since late 2024.[1]
The Commerce Department's first estimate of third-quarter growth is scheduled for release on October 29, and economists will be watching that report for signs the momentum continued into the summer.[1]
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📌 Key Facts
- On Wednesday, September 30, 2026, the Commerce Department revised Q2 2026 GDP to 2.2 percent annualized from a prior 1.5 percent estimate.
- Consumer spending grew at a 3.8 percent annual rate in Q2, up from 0.7 percent in Q1 2026.
- Business investment excluding housing rose at a 9 percent annual rate, while imports rose 12.6 percent and cut nearly 1.7 percentage points from GDP.
- A core domestic-demand measure excluding government and trade grew at 4.6 percent, and housing investment increased 2.8 percent, its first gain since late 2024.
- The report is the third and final Commerce Department estimate for second-quarter 2026 GDP; the first look at third-quarter growth is due October 29, 2026.
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