The BEA Wire | BEA's Official Blog
Vipin Arora Named New BEA Director
Vipin Arora was named the new Director of the Bureau of Economic Analysis, bringing decades of economic experience to the post. His new status is effective immediately.
Before joining BEA, Dr. Arora was acting Deputy Assistant Director of the Social, Behavioral and Economic Sciences Directorate at the National Science Foundation (NSF). He also served as Deputy Director of the NSF’s National Center for Science and Engineering…
Personal Income and Outlays, October 2022
Personal income increased $155.3 billion, or 0.7 percent at a monthly rate, while consumer spending increased $147.9 billion, or 0.8 percent, in October. The increase in personal income primarily reflected increases in compensation and personal current transfer receipts. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 2.3 percent in October, compared with 2.4 percent in September.
Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Third Quarter 2022
Real gross domestic product (GDP) increased at an annual rate of 2.9 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.
Activities of U.S. Multinational Enterprises, 2020
Worldwide employment by U.S. multinational enterprises (MNEs) decreased 1.8 percent to 42.4 million workers in 2020 from 43.2 million workers in 2019.
Personal Income by County and Metropolitan Area, 2021
In 2021, personal income increased in 3,075 counties, decreased in 36, and was unchanged in 3. Personal income increased 7.4 percent in the metropolitan portion of the United States and 7.7 percent in the nonmetropolitan portion.
Outdoor Recreation Satellite Account, U.S. and States, 2021
The outdoor recreation economy accounted for 1.9 percent ($454.0 billion) of current-dollar gross domestic product (GDP) for the nation in 2021. At the state level, outdoor recreation value added as a share of GDP ranged from 4.8 percent in Hawaii to 1.3 percent in New York and Connecticut. The share was 0.9 percent in the District of Columbia.
September 2022 Trade Gap is $73.3 Billion
The U.S. monthly international trade deficit increased in September 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $65.7 billion in August (revised) to $73.3 billion in September, as imports increased and exports decreased. The goods deficit increased $6.6 billion in September to $92.7 billion. The services surplus decreased $1.0 billion in September to $19.5 billion.
Gross Domestic Product for Guam, 2021
Real gross domestic product for Guam increased 1.1 percent in 2021 after decreasing 11.4 percent in 2020, according to statistics released today by the U.S. Bureau of Economic Analysis. These statistics were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior.
Personal Income and Outlays, September 2022
Personal income increased $78.9 billion, or 0.4 percent at a monthly rate, while consumer spending increased $113.0 billion, or 0.6 percent, in September. 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 3.1 percent in September, compared with 3.4 percent in August.
Gross Domestic Product, Third Quarter 2022 (Advance Estimate)
Real gross domestic product (GDP) increased at an annual rate of 2.6 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.
Personal Consumption Expenditures by State, 2021
State personal consumption expenditures (PCE) increased 12.7 percent in 2021 after decreasing 1.9 percent in 2020. The percent change in PCE across all 50 states and the District of Columbia ranged from 16.3 percent in Utah to 9.4 percent in New York.
August 2022 Trade Gap is $67.4 Billion
The U.S. monthly international trade deficit decreased in August 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $70.5 billion in July (revised) to $67.4 billion in August, as imports decreased more than exports. The previously published July deficit was $70.6 billion. The goods deficit decreased $3.4 billion in August to $87.6 billion. The services surplus decreased $0.4 billion…