Publication date:
Dec 17, 2025
IMF Data Brief: Quarterly Gross Domestic Product
Global Growth Remains Steady around its Long-Term Average
Quarterly GDP (real, seasonally adjusted), World and Country Aggregates, 2025Q3
Contributors: Richard Wild and Arushi Kapoor
World GDP grew by 0.8 percent quarter-on-quarter in 2025Q3, in line with its average since the end of the pandemic (0.8 percent since 2023Q1) and with the pre-pandemic average (2012Q1-2019Q4).
Asia remained the driving force, increasing by 1.1 percent in 2025Q3—only slightly below its 1.2 percent post-pandemic average—and contributing 0.6 percentage points to global growth. Other regions contributed more modestly to global growth, with the Americas contributing 0.2 percentage points to growth, and Europe, Africa and Oceania combined making a modest positive contribution. Growth in the Americas picked up to 0.8 percent but remained tepid in Europe at 0.2 percent. Africa also experienced a growth slowdown, from 0.8 in 2025Q2 to 0.4 percent in 2025Q3.
Growth in emerging markets and developing economies (EMDEs), at 1.0 percent, continues to outpace growth in advanced economies (AEs), which expanded by 0.6 percent in 2025Q3—and hence contributed to the bulk of 2025Q3 growth.
Economy-wide prices softened in 2025Q3. The world GDP deflator grew by 0.5 percent in 2025Q3, down from 0.9 percent in Q2 and a little below the post-pandemic average (0.7 percent). Prices grew by a modest 0.1 percent in Asia in Q3, while in the Americas, price growth slowed marginally from 0.8 percent in Q2 to 0.7 percent in Q3, equal to trend. In Europe, price growth was 0.8 percent in Q3, up from 0.6 percent in Q2 and slightly above trend (0.7 percent).
Notes: ¹Contributions to World growth may not equal the totals due to rounding. 2Normally when countries do not report their quarterly estimates in time for this release their estimates are imputed using regional averages. This quarter, the US did not release estimates for 2025Q3. Given the size of its economy, imputations were made for this period informed by projected annual growth from the October 2025 World Economic Outlook (WEO) publication and official published growth rates for 2025Q1 and 2025Q2. Historical revisions in the 2025Q4 release of this report (scheduled for March 18, 2026) may be larger than usual as a result. 3Based on 19 country members; excludes the European Union and African Union blocs.
World and country aggregate current price estimates reflect aggregate reported current price country data adjusting to international dollar purchasing power parity (PPP) terms which are then benchmarked up to the last full calendar year (2024) to annual nominal GDP World and country aggregate levels published in the IMF’s latest World Economic Outlook (WEO) release (October 2025). World and country aggregate constant price estimates reflect weighted aggregates of reported constant price country data adjusted to PPP terms, from which growth rates are then benchmarked to the annual constant price World and country aggregate growth rates published in the latest WEO.
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