The BEA Wire | BEA's Official Blog
GDP Increases in Second Quarter
Real gross domestic product (GDP) increased 2.3 percent in the second quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.6 percent (revised).
GDP highlights The second-quarter increase in real GDP mainly reflected an increase in consumer spending. Spending on both durable goods, notably motor vehicles and parts, and nondurable goods increased.…
Industry in Focus: Transportation and Warehousing
Transportation and warehousing is an industry that is important to everyone, whether you’re an individual flying home to visit family or a business expecting a shipment of raw materials. In the first quarter of 2015, transportation and warehousing subtracted 0.56 percentage point from real Gross Domestic Product, and was the largest contributor to the 0.2 percent decrease in GDP.
Nondurable Goods Manufacturing Led the Downturn in First Quarter Gross Domestic Product by Industry
A deceleration in nondurable goods manufacturing and downturns in both professional, scientific, and technical services and wholesale trade were the leading contributors to the downturn in U.S. economic growth in the first quarter of 2015. Overall, 15 of 22 industry groups contributed to the downturn in the first quarter.
Why Does BEA Revise GDP Estimates?
Each summer, the Bureau of Economic Analysis updates its Gross Domestic Product estimates to incorporate sources of data previously unavailable and make improvements in methodology –– all with the goal of providing the most accurate measure of the U.S. economy’s performance.
Coming Soon: Webinar for BE–10 Survey Respondents—What Private Funds Need to Know
Take part in a webinar, co-hosted by the U.S. Bureau of Economic Analysis and the Association for Corporate Growth, on Thursday, July 16, at 2 p.m., where you’ll receive an overview of the BE–10 Benchmark Survey of U.S. Direct Investment Abroad and learn more about how it applies to private funds.
BEA's API Expands Access to All Regional Data
Developers, your requests have been heard. All regional data from the Bureau of Economic Analysis are now accessible through our application programming interface, or API. This includes industry detail for certain estimates, back-year estimates under the SIC industry structure and every statistic currently available in our interactive data tables.
May 2015 Trade Gap is $41.9 Billion
The U.S. monthly international trade deficit increased in May 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.7 billion in April (revised) to $41.9 billion in May, as exports decreased more than imports. The previously published April deficit was $40.9 billion. The goods deficit increased $1.2 billion from April to $61.5 billion in May. The services surplus increased less than…
Real Personal Income for States, 2013
Real personal income across all regions rose by an average of 0.8 percent in 2013. This growth rate reflects the year-over-year change in nominal personal income across all regions adjusted by the change in the national personal consumption expenditures (PCE) price index. On a nominal basis, personal income across all regions grew an average of 2.0 percent in 2013. In 2013, the U.S. PCE price index grew 1.2 percent.
Real Personal Income for Metropolitan Areas, 2013
Real personal income across all regions rose by an average of 0.8 percent in 2013. This growth rate reflects the year-over-year change in nominal personal income across all regions adjusted by the change in the national personal consumption expenditures (PCE) price index. On a nominal basis, personal income across all regions grew an average of 2.0 percent in 2013. In 2013, the U.S. PCE price index grew 1.2 percent.
Value of U.S. Assets Increased More than U.S. Liabilities in First Quarter 2015
The U.S. net international investment position was -$6,794.0 billion (preliminary) at the end of the first quarter of 2015 as the value of U.S. liabilities exceeded the value of U.S .assets. At the end of the fourth quarter of 2014, the net investment position -$7,019.7 billion (revised).
BEA to Release 2013 Statistics on Real Personal Income for States and Metro Areas July 1
The Bureau of Economic Analysis will publish real personal income statistics for the 50 states, the District of Columbia, and all metropolitan areas on Wednesday, July 1 at 8:30 a.m. eastern time.
The report provides annual statistics for 2013. These statistics use regional price parities in combination with the personal consumption expenditure price index to adjust BEA’s personal income data for differences in price levels across the…
Real Consumer Spending Rises in May
Personal income increased 0.5 percent in May, the same increase as in April. Wages and salaries, the largest component of personal income, rose 0.5 percent in May after rising 0.3 percent in April.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in May after rising 0.4 percent in April.
Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in May…