The BEA Wire | BEA's Official Blog
GDP Increases in Third Quarter
Real gross domestic product (GDP) increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP rose 1.4 percent.
Learn How BEA's Regional Statistics are Used to Distribute Federal Funds to State and Local Governments
Did you know that each year BEA regional economic statistics, such as annual personal income and per capita personal income are used to allocate billions of dollars in federal funds to states and local governments? In fiscal year 2015, nearly $400 billion in federal funds were distributed under programs using BEA statistics in federal funding formulas.
Expanded Geographic Detail on International Trade in Services Coming Soon
How much do U.S. residents spend on travel to Greece? How much does the U.S. export in movies and television programming to Vietnam? You can answer these questions next week when the Bureau of Economic Analysis expands the geographic detail it publishes on U.S. imports and exports of services. On October 24, we will publish annual statistics on international trade in services with 90 countries and areas, up from 49.
County GDP Stats Would Give a Closer Look at Local Economies
Anyone interested in economic growth in, let’s say, West Virginia can check state GDP data from the U.S. Bureau of Economic Analysis. Want to zoom in on a metro area, such as Charleston, W.Va., and its surroundings? BEA has gross domestic product by metropolitan areas, too.
August 2016 Trade Gap is $40.7 Billion
The U.S. monthly international trade deficit increased in August 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $39.5 billion in July (revised) to $40.7 billion in August, as imports increased more than exports. The previously published July deficit was $39.5 billion. The goods deficit decreased less than $0.1 billion in August to $60.3 billion. The services surplus decreased $1.2…
Personal Consumption Expenditures by State, 2015
Growth in state personal consumption expenditures (PCE) – the measure of goods and services purchased by or on behalf of households – decelerated to 3.6 percent in 2015 from 4.4 percent in 2014. In 2015, growth in PCE was largely concentrated in the Far West and Rocky Mountain regions.
Spending on Durable Goods Falls in August
Personal income increased 0.2 percent in August after increasing 0.4 percent in July. Wages and salaries, the largest component of personal income, increased 0.1 percent in August after increasing 0.5 percent in July.
GDP Increases in Second Quarter
Real gross domestic product (GDP) increased 1.4 percent in the second quarter of 2016, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.3 percentage point higher than the “second” estimate released in August. In the first quarter, real GDP rose 0.8 percent.
Guest blog: Announcing the Open-Source beaR Library
This is a guest blog by Justin Antonipillai – Counselor to Secretary Penny Pritzker, with the Delegated Duties of the Under Secretary for Economic Affairs
State Personal Income, Second Quarter 2016
State personal income growth accelerated to 1.0 percent on average in the second quarter of 2016 from 0.3 percent in the first quarter. Personal income grew in every state in the second-quarter with growth rates ranging from 0.4 percent in Alaska to 1.4 percent in Utah.
U.S. Net International Investment Position Second Quarter 2016
The U.S. net international investment position decreased to −$8,042.8 billion (preliminary) at the end of the second quarter of 2016 from −$7,582.0 billion (revised) at the end of the first quarter.
Guam's Economy Grows in 2015
The Bureau of Economic Analysis released estimates of gross domestic product for Guam for 2015, in addition to estimates of GDP by industry and compensation by industry for 2014.
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 Guam’s GDP for 2013 and 2014, as well as revised estimates of GDP by industry…