The BEA Wire | BEA's Official Blog
U.S. Current-Account Deficit Widens in 2nd Quarter 2024
The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $25.8 billion, or 10.7 percent, to $266.8 billion in the second quarter of 2024. The widening mostly reflected an expanded deficit on goods. The second-quarter deficit was 3.7 percent of current-dollar gross domestic product, up from 3.4 percent in the first…
A Historical Look at BEA’s Price Measures
A blog from BEA Director Vipin Arora
BEA’s price index for personal consumption expenditures—the PCE price index—gets a lot of attention when it’s released every month. For good reason: the Federal Reserve and policymakers around the world rely on it as a key inflation gauge.
BEA’s Annual Update of GDP Statistics Starts Sept. 26
National and industry statistics for the previous five years will be updated Sept. 26 as part of BEA’s regular annual updates to gross domestic product and related estimates. Updates to state and local statistics will begin Sept. 27.
July 2024 Trade Gap is $78.8 Billion
The U.S. goods and services trade deficit increased from $73.0 billion in June (revised) to $78.8 billion in July, as imports increased more than exports. The goods deficit increased $5.6 billion to $103.1 billion, and the services surplus decreased $0.2 billion to $24.3 billion.
Personal Income and Outlays, July 2024
Personal income increased $75.1 billion (0.3 percent at a monthly rate) in July. Disposable personal income (DPI)—personal income less personal current taxes—increased $54.8 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $103.3 billion (0.5 percent) and consumer spending increased $103.8 billion (0.5 percent). Personal…
Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Second Quarter 2024
Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the “second” estimate. In the first quarter, real GDP increased 1.4 percent. The GDP estimate for the second quarter was revised up 0.2 percentage point from the “advance” estimate, primarily reflecting an upward revision to consumer spending.
Activities of U.S. Multinational Enterprises, 2022
Worldwide employment by U.S. multinational enterprises increased 2.2 percent to 44.3 million workers in 2022 from 43.3 million workers in 2021 (revised).
Rubik’s Cubes and Business Inventories
A blog from BEA Director Vipin Arora
The first time a friend handed me a Rubik’s Cube I thought it would be easy to solve. I was wrong. BEA’s estimates of businesses’ inventories sometimes remind me of that experience. They seem relatively simple at first, but they turn out to be more complicated than expected.
June 2024 Trade Gap is $73.1 Billion
The U.S. goods and services trade deficit decreased from $75.0 billion in May (revised) to $73.1 billion in June, as exports increased more than imports. The goods deficit decreased $2.5 billion to $97.4 billion, and the services surplus decreased $0.6 billion to $24.2 billion.
BEA: Taking Economic Statistics Personally Since 1938
A blog from BEA Director Vipin Arora
When I hear the phrase “personal income,” I think about my paycheck. When we talk about personal income in the context of BEA’s economic statistics, however, it’s my paycheck, your paycheck, your cousin’s paycheck—and much more.
Gross Domestic Product for Puerto Rico, 2022
Real gross domestic product (GDP) for Puerto Rico decreased 2.5 percent in 2022 after increasing 4.1 percent in 2021, according to statistics released today by the U.S. Bureau of Economic Analysis
The decrease in real GDP in 2022 reflected an increase in imports—which are a subtraction item in the calculation of GDP—as well as decreases in private fixed investment and exports. Personal consumption expenditures, private inventory…
Producto interior bruto para Puerto Rico, 2022
El producto interior bruto real (PIB) para Puerto Rico decreció 2.5 por ciento en 2022, luego de crecer 4.1 por ciento en 2021, de acuerdo con las estadísticas difundidas hoy por el Negociado de Análisis Económico de EE. UU. (BEA por sus siglas en inglés). El decrecimiento en el PIB real en 2022 reflejó un aumento en las importaciones —que son un elemento de resta en el cálculo del PIB— así como decrecimientos en la inversión privada en…