The BEA Wire | BEA's Official Blog
GDP Increases in Third Quarter
Real gross domestic product (GDP) increased 2.0 percent in the third quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised down 0.1 percentage point from the “second” estimate released in November. In the second quarter, real GDP increased 3.9 percent.
GDP highlights The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on…
State Personal Income: Third Quarter 2015
State personal income grew 1.3 percent on average in the third quarter of 2015, the same pace as in the second quarter. Personal income grew in every state with third-quarter personal income growth rates ranging from 0.6 percent in Alaska to 2.2 percent in Nebraska and South Dakota.
For more information, read the full report.
U.S. Current-Account Deficit Increases in Third Quarter 2015
The U.S. current-account deficit – a net measure of transactions between the United States and the rest of the world in goods, services, primary income (investment income and compensation), and secondary income (current transfers) – increased to $124.1 billion (preliminary) in the third quarter of 2015 from $111.1 billion (revised) in the second quarter of 2015. As a percentage of U.S. GDP, the deficit increased to 2.7 percent from 2.5…
Virgin Islands' Economy Shrinks in 2014
The Virgin Islands economy continued to contract in 2014, although at a much slower rate than in the previous three years, the U.S. Bureau of Economic Analysis reported today.
The estimates of Gross Domestic Product for the U.S. Virgin Islands show that real GDP — adjusted to remove price changes — decreased 0.6 percent in 2014. For comparison, real GDP for the U.S. (excluding the territories) increased 2.4 percent in 2014.
Travel and Tourism Spending Decelerated in the Third Quarter of 2015
Real spending (output) on travel and tourism decelerated in the third quarter of 2015, increasing at an annual rate of 4.3 percent after increasing 8.4 percent (revised) in the second quarter of 2015. Real gross domestic product (GDP) also decelerated, increasing 2.1 percent (second estimate) in the third quarter after increasing 3.9 percent.
Second Quarter Growth in Service Industries Widespread Across States
Real gross domestic product (GDP) increased in 46 states and the District of Columbia in the second quarter of 2015. Overall, U.S. real GDP by state grew at an annual rate of 3.8 percent in the second quarter of 2015 after increasing 0.7 percent in the first quarter of 2015. Finance and insurance; professional, scientific, and technical services; and wholesale trade were the leading contributors to real U.S. economic growth in the second…
GDP by State Statistics for Second Quarter of 2015 to be Released December 10
New statistics on the economic performance of all 50 states and the District of Columbia during the second quarter of 2015 will be released Thursday, Dec. 10 at 8:30 a.m. eastern time by the U.S. Bureau of Economic Analysis.
October 2015 Trade Gap is $43.9 Billion
The U.S. monthly international trade deficit increased in October 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $42.5 billion in September (revised) to $43.9 billion in October, as exports decreased more than imports. The previously published September deficit was $40.8 billion. The goods deficit increased $2.1 billion from September to $63.1 billion in October. The…
Guest Blog: U.S. Remains No. 1 Choice for Foreign Investment – New Stats Released
This is a guest blog by Vinai Thummalapally, Executive Director of SelectUSA.
On Monday, the Bureau of Economic Analysis (BEA) released highly-anticipated data highlighting new foreign direct investment (FDI) expenditures in the United States.
Bureau of Economic Analysis Releases Two New Data Sets to Deepen Understanding of U.S. Economy
In the past two days, the Commerce Department’s Bureau of Economic Analysis (BEA) has released two brand new sets of economic statistics that business people, entrepreneurs, policy makers, households and others can use to make more informed decisions in their professional and personal lives.
Guam's Economy Grew 1 Percent in 2014
Guam’s real gross domestic product — adjusted to remove price changes — increased 1 percent in 2014. For comparison, economic growth for the United States (excluding the territories) increased 2.4 percent during the same period.
Growth in Guam was widespread among the components of GDP and included increases in private fixed investment, government spending and consumer spending. Growth in these components was partly…
BEA Introduces New Measures of the Regional Economy
Today, the U.S. Bureau of Economic Analysis released official statistics on personal consumption expenditures (PCE) by state for 1997-2014. PCE by state – the measure of goods and services purchased by or on behalf of households by state of residence – provides insight into household spending patterns across states and can be used together with other regional data to gain a better understanding of regional economies.