The BEA Wire | BEA's Official Blog
Widespread Growth Across Industries Continues in Third Quarter 2014
Real gross domestic product (GDP) increased at an annual rate of 5.0 percent in the third quarter of 2014, reflecting positive contributions from 20 of 22 industry groups. The private goods- and services-producing industries, as well as the government sector, contributed to the increase.
Introducing the New BEA Health Care Satellite Account
Total health care spending reached 17.4 percent of gross domestic product (GDP) in 2013, and that share is expected to continue to grow significantly, according to the Centers for Medicare and Medicaid Services. Given this trend, it is critical to develop an understanding of what those increased expenditures represent. Are the increases attributable to rising costs of treatment or more individuals receiving medical care? What medical…
New Health Care Statistics to be Released Jan. 22
New statistics tracking the changes in the prices to treat different diseases are slated to be available Thursday, Jan. 22 when the Bureau of Economic Analysis publishes a new health care satellite account report.
Spending on Arts and Cultural Production Continues to Increase
Nominal value added from all arts and cultural production (ACP) industries- a measure of this sector’s contribution to gross domestic product (GDP) – increased 3.8 percent, or $25.8 billion in 2012, according to new statistics released by the Bureau of Economic Analysis (BEA). Value added for ACP accounted for 4.3 percent, or $698.7 billion, of GDP.
November 2014 Trade Gap is $39.0 Billion
The U.S. monthly international trade deficit decreased in November 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $42.2 billion in October (revised) to $39.0 billion in November, as imports decreased more than exports. The previously published October deficit was $43.4 billion. The goods deficit decreased $3.3 billion from October to $58.3 billion in November. The services surplus…
2015 Promises More Data from BEA on Foreign Investment in the United States
Are you looking for statistics on new investment by foreign companies in the United States? The Bureau of Economic Analysis (BEA) has you covered. New statistics slated to be unveiled later this year will provide information on things like when a foreign company launches a new business in this country or expands an existing one by building a new plant.
Value of U.S. Assets Decreased and Value of U.S. Liabilities Increased in Third Quarter 2014
The U.S. net international investment position was -$6,157.9 billion (preliminary) at the end of the third quarter of 2014 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the second quarter, the net position was -$5,475.4 billion (revised).
GDP Increases in Third Quarter: "Third" Estimate of GDP
Real gross domestic product (GDP) increased 5.0 percent in the third quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.6 percent.
GDP highlights The increase in GDP in the third quarter reflected the following:
Real Consumer Spending Rose in November
Personal income rose 0.4 percent in November after rising 0.3 percent in October. Wages and salaries, the largest component of personal income, rose 0.5 percent in November after rising 0.3 percent in October.
Current-dollar disposable personal income (DPI), after-tax income, rose 0.3 percent in November, the same increase as in October.
Real DPI, income adjusted for taxes and inflation, increased 0.5 percent in November…
State Personal Income: Third Quarter 2014
State personal income growth averaged 1.0 percent in the third quarter of 2014, down from 1.2 percent in the second quarter. Growth in personal income–the sum of net earnings by place of residence, property income, and personal current transfer receipts–slowed in 38 states and in the District of Columbia. The percent change across states ranged from -0.2 percent in South Dakota (the only state with a decline) to 1.4 percent in Texas.
Travel and Tourism Spending Decelerated in the Third Quarter of 2014
Real spending on travel and tourism decelerated in the third quarter of 2014, increasing at an annual rate of 1.3 percent after increasing 3.3 percent (revised) in the second quarter. Real gross domestic product (GDP) also decelerated, increasing 3.9 percent (second estimate) in the third quarter after increasing 4.6 percent.
U.S. Current-Account Deficit Increases in Third Quarter 2014
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 $100.3 billion (preliminary) in the third quarter of 2014 from $98.4 billion (revised) in the second quarter of 2014. As a percentage of U.S. GDP, the deficit remained at 2.3 percent. The…