The BEA Wire | BEA's Official Blog
U.S. Current-Account Deficit Widens in Third Quarter 2021
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 $16.5 billion, or 8.3 percent, to $214.8 billion in the third quarter of 2021. The widening reflected a reduced surplus on services and expanded deficits on secondary income and on goods that were partly offset by an expanded surplus on primary income. The…
Personal Income by State, 3rd Quarter 2021
State personal income increased 2.6 percent at an annual rate in the third quarter of 2021 after decreasing 20.2 percent in the second quarter. The percent change in personal income across all states ranged from 6.7 percent in the Kentucky to –4.3 percent in North Dakota. Personal income estimates reflect the continued economic impacts related to the COVID-19 pandemic. Government pandemic assistance payments to households and business…
Real Personal Consumption Expenditures and Personal Income by State, 2020
Today, the U.S Bureau of Economic Analysis released official statistics of real state personal consumption expenditures for the first time. Real PCE decreased 3.8 percent in 2020 for the nation. Across states, the percent change ranged from 2.2 percent in Utah to –7.0 percent in Hawaii, Maryland, and New York; the percent change was –8.9 percent in the District of Columbia. Real state PCE is a state's current-dollar PCE adjusted by the state'…
Gross Domestic Product by County, 2020
Real gross domestic product (GDP) increased in 864 counties, decreased in 2,234 counties, and was unchanged in 14 counties in 2020. The percent change in real GDP ranged from 91.0 percent in Foard County, TX, to –29.0 percent in Skagway Municipality, AK. GDP estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted “stay-at-home” orders. The full economic effects of the COVID-19 pandemic cannot be…
October 2021 Trade Gap is $67.1 Billion
The U.S. monthly international trade deficit decreased in October 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $81.4 billion in September (revised) to $67.1 billion in October, as exports increased more than imports. The previously published September deficit was $80.9 billion. The goods deficit decreased $14.0 billion in October to $83.9 billion. The services surplus increased…
Gross Domestic Product for Guam, 2020
Real gross domestic product (GDP) for Guam decreased 11.9 percent in 2020 after increasing 2.5 percent in 2019, 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.
Gross Domestic Product for American Samoa, 2020
Real gross domestic product for American Samoa increased 4.0 percent in 2020 after decreasing 0.6 percent in 2019, 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, October 2021
Personal income increased $93.4 billion, or 0.5 percent at a monthly rate, while consumer spending increased$214.3 billion, or 1.3 percent, in October. The increase in personal income primarily reflected an increase in compensation of employees. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.3 percent in October, compared with 8.2 percent in September.
Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Third Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The increase was revised up 0.1 percentage point from the “advance” estimate released in October. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening…
Personal Income by County and Metropolitan Area, 2020
In 2020, personal income increased in 3,040 counties, decreased in 69, and was unchanged in 3. Personal income increased 6.4 percent in the metropolitan portion of the United States and increased 7.6 percent in the nonmetropolitan portion. Personal income estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted “stay-at-home” orders. The full economic effects of the COVID-19 pandemic cannot be…
Activities of U.S. Multinational Enterprises, 2019
Worldwide employment by U.S. multinational enterprises (MNEs) increased 2.4 percent to 43.9 million workers in 2019 from 42.9 million workers in 2018.
BEA Appoints Three New Advisory Committee Members
Three new members are joining the BEA Advisory Committee: Nela Richardson of Automatic Data Processing Inc. (ADP); Louise Sheiner, Brookings Institution; and Heather Stephens, West Virginia University.
The committee advises BEA’s director on matters related to the development and improvement of BEA’s national, regional, and international statistics and provides recommendations from the perspectives of the economics profession,…