The 2nd estimate of Q1 2025 US GDP growth is -0.2%, revised up from -0.3% in the initial estimate.

• Real final sales to private domestic purchasers saw a significant downward revision of -0.5 ppts to 2.5% as household consumption was revised down.
• Personal consumption growth was revised down from an SAAR of 1.8% in the first estimate to 1.2%. Both goods and services consumption were revised lower, by -0.4 ppts to 0.1% and -0.7 ppts to 1.7%, respectively.
• Gross private domestic investment growth was revised up from 21.9% to an even stronger 24.4%.
• The contribution of PCE fell -41 bps to 0.80 ppts but was offset by an upward revision in the inventory contribution of 39 bps to 2.64 ppts.
• The annual increases in the GDP price index and the core PCE price index were both revised down by -0.1 ppts to 3.3% YoY and 3.4% YoY.
• Gross domestic income is estimated to have fallen -0.2% after a 5.2% gain in Q4 2024.
• Corporate profits fell -$118.1 billion in Q1 2025 following a $204.7 billion increase in Q4 2024.