The BEA Wire | BEA's Official Blog
Personal Income and Outlays, December 2022
Personal income increased $49.5 billion, or 0.2 percent at a monthly rate, while consumer spending decreased $41.6 billion, or 0.2 percent, in December. The increase in personal income primarily reflected increases in compensation and proprietors’ income. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 3.4 percent in December, compared with 2.9 percent in November.
Gross Domestic Product, Fourth Quarter 2022 and Year 2022 (Advance Estimate)
Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.
Survey of Current Business Begins Rolling Schedule, New Website
BEA’s journal of record, the Survey of Current Business, is starting 2023 by publishing articles more quickly, with a new website that makes content easier to find.
Beginning today, the Survey will publish individual articles, visual essays, statistical tables, and other content when they are ready, instead of holding them to publish together as a single online issue each month.
November 2022 Trade Gap is $61.5 Billion
The U.S. monthly international trade deficit decreased in November 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $77.8 billion in October (revised) to $61.5 billion in November, as imports decreased more than exports. The goods deficit decreased $15.3 billion in November to $84.1 billion. The services surplus increased $1.0 billion in November to $22.5 billion.
U.S. International Investment Position, 3rd Quarter 2022
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.71 trillion at the end of the third quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $29.73 trillion, and liabilities were $46.44 trillion. At the end of the second quarter, the net investment position was –$16.29 trillion (revised).
Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2022
Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the third quarter of 2022, with the percent change in real GDP ranging from 8.7 percent in Alaska to –0.7 percent in Mississippi.
Personal Income and Outlays, November 2022
Personal income increased $80.1 billion, or 0.4 percent at a monthly rate, while consumer spending increased $19.8 billion, or 0.1 percent, in November. The increase in personal income primarily reflected increases in compensation and personal income receipts on assets. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 2.4 percent in November, compared with 2.2 percent in October.
Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Third Quarter 2022
Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter. The increase in the third quarter primarily reflected increases in exports and consumer spending that were partly offset by a decrease in housing investment.
U.S. Current-Account Deficit Narrows in 3rd Quarter 2022
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, narrowed by $21.6 billion, or 9.1 percent, to $217.1 billion in the third quarter of 2022. The narrowing mostly reflected a decreased deficit on goods that was partly offset by a decreased surplus on primary income and an increased deficit on secondary income. The third…
Real Personal Consumption Expenditures by State and Real Personal Income by State and Metropolitan Area, 2021
Real personal consumption expenditures (PCE) by state increased in all 50 states and the District of Columbia in 2021. The percent change in real PCE across all 50 states and the District of Columbia ranged from 12.5 percent in Utah to 2.0 percent in West Virginia.
Gross Domestic Product by County, 2021
Real gross domestic product (GDP) increased in 2,404 counties, decreased in 691 counties, and was unchanged in 17 counties in 2021. The percent change in real GDP ranged from 81.8 percent in Coke County, TX, to –34.8 percent in Chouteau County, MT.
October 2022 Trade Gap is $78.2 Billion
The U.S. monthly international trade deficit increased in October 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $74.1 billion in September (revised) to $78.2 billion in October, as imports increased and exports decreased. The goods deficit increased $6.1 billion in October to $99.6 billion. The services surplus increased $2.1 billion in October to $21.4 billion.