The BEA Wire | BEA's Official Blog
U.S. Net International Investment Position Second Quarter 2018
The U.S. net international investment position decreased to −$8,638.5 billion (preliminary) at the end of the second quarter of 2018 from −$7,747.3 billion (revised) at the end of the first quarter. The $891.2 billion decrease reflected net financial transactions of −$126.0 billion and net other changes in position, such as price and exchange-rate changes, of −$765.1 billion.
State Personal Income: Second Quarter 2018
State personal income increased 4.2 percent, at an annual rate, in the second quarter of 2018, a deceleration from the 5.0 percent increase in the first quarter. The percent change in personal income across all states ranged from 6.0 percent in Texas to 1.6 percent in Washington.
Outdoor Recreation Grew Faster Than U.S. Economy in 2016
The outdoor recreation economy accounted for 2.2 percent of current-dollar GDP in 2016, or $412 billion, updated statistics from the Outdoor Recreation Satellite Account show. In data produced for the first time, using inflation-adjusted GDP, the outdoor recreation economy grew 1.7 percent in 2016, faster than the 1.6 percent growth for the overall U.S. economy.
Real gross output, compensation, and employment all grew faster in…
U.S. Current-Account Deficit Decreases in Second Quarter 2018
The U.S. current-account deficit decreased to $101.5 billion (preliminary) in the second quarter of 2018 from $121.7 billion (revised) in the first quarter of 2018. As a percentage of U.S. GDP, the deficit decreased to 2.0 percent from 2.4 percent. The previously published current-account deficit for the first quarter was $124.1 billion.
Coming Soon: An Enhanced Set of Outdoor Recreation Statistics
BEA’s first-ever measurement of the economic power of outdoor recreation, released in February, found that the industry’s contribution to the U.S. economy in 2016 was bigger than other industries like legal services or publishing. Soon people will learn even more about the economic value of outdoor pursuits like canoeing, hunting, RVing, and snowboarding.
July 2018 Trade Gap is $50.1 Billion
The U.S. monthly international trade deficit increased in July 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $45.7 billion in June (revised) to $50.1 billion in July, as exports decreased and imports increased. The previously published June deficit was $46.3 billion. The goods deficit increased $4.2 billion in July to $73.1 billion. The services surplus decreased $0.1 billion in…
Personal Income Rises in July
Personal income increased 0.3 percent in July after increasing 0.4 percent in June. Wages and salaries, the largest component of personal income,increased 0.4 percent in July, the same increase as in June.
GDP Increases in Second Quarter
Real gross domestic product (GDP) increased 4.2 percent in the second quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point more than the “advance” estimate released in July. In the first quarter, real GDP increased 2.2 percent.
GDP highlights
Late BE-120 Filers Must File by Sept. 28
BEA will soon be mailing delinquency letters to businesses and others that have not submitted their responses to the 2017 BE-120 survey, the Benchmark Survey of Transactions in Selected Services and Intellectual Property with Foreign Persons.
American Samoa GDP Decreases in 2017
The Bureau of Economic Analysis released estimates of gross domestic product for American Samoa for 2017, in addition to estimates of GDP by industry and compensation by industry for 2016. These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior.
Revised estimates of GDP for 2015 and 2016, as well as revised estimates of GDP by industry and…
Activities of U.S. Multinational Enterprises: 2016
Worldwide employment by U.S. multinational enterprises (MNEs) increased 0.4 percent to 42.3 million workers (preliminary) in 2016 from 42.1 million (revised) in 2015.