GDP News Updates

The expansion in third-quarter GDP — the nation’s output of goods and services — was faster than the 2.2% growth registered from April through June, the Commerce Department said. 

Consumer spending — which accounts for about 70% of U.S. economic activity — increased at a healthy 3.4% annual clip, up from 0.5% in the January-March period.

Assuming no growth in June, the industry-based output data suggests Canada’s economy will expand at a 2.3% annualized pace in the second quarter.

The growth in GDP marked a rebound from a sluggish 0.5% in the last three months of 2025 when a 43-day federal government shutdown weighed on the economy.

Under the OECD's prolonged disruption scenario, global growth slows from 3.4% last year to 2.1% this year and 1.8% in 2027, potentially pushing some economies into recession.

Growth in consumer spending, which accounts for 70% of U.S. economic activity, slowed to 1.6% in the first quarter from 1.9% at the end of 2025.

For all of 2025, the economy grew 2.1%, slower than 2.8% in 2024 and 2.9% in 2023.

The Bloomberg survey mirrors new estimates by the OECD, which sees higher inflation in the U.S. and other major economies.

For the U.S., the OECD expects inflation to jump to 4.2% this year, from 2.6% last year. Its price outlook is 1.2 percentage points higher than in December.

Economists are monitoring both the inflationary and demand impacts from soaring prices of gasoline, diesel and other petroleum products.