United States · Economy

U.S. growth revised to 2.2%; PCE inflation at 3.4%

The September 30 releases measure the second quarter and August on different bases.

Neutral News · Documentary summary
October 1, 2026 · Updated at 06:28 AM ET · Quebec time

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New report on statistics released September 30: second-quarter GDP and August prices.

U.S. real GDP grew at a 2.2% annualized rate in the second quarter of 2026, according to the Bureau of Economic Analysis’s third estimate released on September 30. The previous estimate was 1.5%; first-quarter growth is now put at 2.5%. [1]

Spending supports activity

Reuters highlights the role of consumer spending and business investment. Household spending grew at a 3.8% annualized rate in the second quarter, following 0.7% in the first. [3]

Prices continue to rise

In a separate release, the BEA reports a 3.4% year-over-year increase in August’s personal consumption expenditures (PCE) price index, or 3.0% excluding food and energy. The monthly changes were 0.3% and 0.2%, respectively. [2]

Keep the measures separate

An annualized rate is not a year-over-year change. GDP and prices measure different developments. [2]

Perspectives compared

Output

BEA

Second-quarter GDP has been revised. [1]

Prices

BEA

The PCE index measures changes in consumer prices. [2]

Demand

Reuters

Consumer spending contributes to growth. [3]

Sources and documents

[1] Bureau of Economic Analysis — GDP ↗September 30, 2026
[2] Bureau of Economic Analysis — income and outlays ↗September 30, 2026
[3] Reuters — Lucia Mutikani / MarketScreener ↗September 30, 2026