Key Points
Gross domestic product (GDP) growth continued to be supported by robust private demand in the third quarter of 2026.
- Real final sales to private domestic purchasers, which includes personal consumption expenditures and private fixed investment, grew at a 4.9% seasonally adjusted annualized rate – the fastest pace since 2021.
- GDP is the value of final goods and services produced in the United States.
While real consumption was roughly unchanged from August to September, real consumption expenditures are 2.5% higher year-over-year.
- Real consumption growth has outpaced real disposable income growth in recent years with the personal savings rate reaching its lowest level since 2022 in September.
