The BEA Wire | BEA's Official Blog
Northern Mariana Islands' Economy Grew 4.4 Percent in 2013
Newly published estimates of gross domestic product for the Commonwealth of the Northern Mariana Islands (CNMI) show that real GDP – GDP adjusted to remove price changes – increased 4.4 percent in 2013.
Widespread Growth Across Industries in Second Quarter 2014
Real gross domestic product (GDP) increased at an annual rate of 4.6 percent in the second quarter of 2014, after decreasing 2.1 percent in the first quarter. Both private goods- and services-producing industries contributed to the increase, while the government sector decreased.
September 2014 Trade Gap is $43.0 Billion
The U.S. monthly international trade deficit increased in September 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.0 billion in August (revised) to $43.0 billion in September, mainly reflecting a decrease in exports. The previously published August deficit was $40.1 billion. The goods deficit increased $2.4 billion from August to $62.7 billion in September; the services…
Consumer Spending Falls in September
Personal Income rose 0.2 percent in September after rising 0.3 percent in August. Wages and salaries, the largest component of personal income, rose 0.2 percent in September after rising 0.5 percent in August.
Current-dollar disposable personal income (DPI), after-tax income, rose 0.1 percent in September after rising 0.3 percent in August.
Real DPI, income adjusted for taxes and inflation, remained flat in…
GDP Growth Moderates in Third Quarter
Real gross domestic product (GDP) increased 3.5 percent in the third quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.6 percent.
Third-quarter highlights The deceleration in GDP growth was more than accounted for by inventory investment, which detracted from growth in the third quarter after adding to it in the second quarter.…
Commerce Data: Then & Now
In July, Secretary of Commerce Penny Pritzker announced that our department will be hiring our first ever Chief Data Officer (CDO), building on her commitment to Commerce’s role as “America’s Data Agency.” She also announced the formation of a data advisory council comprising private sector leaders who will help the CDO navigate new and dynamic data challenges. This is the latest chapter in Commerce’s long history of adapting to serve the…
Detailed Statistics on Trade in Services Coming Soon
With the release of the October edition of the Survey of Current Business, the Bureau of Economic Analysis (BEA) will publish the most detailed tables on trade in services by type of service and by area and country. These data represent the final product related to the restructuring of BEA’s international accounts, the most sweeping revamp since 1976.
BEA Stats Offer Interesting Nuggets about U.S. Factories in Recognition of Manufacturing Day
Today is Manufacturing Day and that’s the perfect time to brush up on your factory factoids. Here are some data nuggets produced by the Bureau of Economic Analysis that might surprise you:
August 2014 Trade Gap is $40.1 Billion
The U.S. monthly international trade deficit decreased in August 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $40.3 billion in July (revised) to $40.1 billion in August as exports increased more than imports. The previously published July deficit was $40.5 billion. The goods deficit increased $0.1 billion from July to $59.9 billion in August; the services surplus increased $0.3…
State Personal Income: Second Quarter 2014
State personal income growth accelerated to 1.5 percent on average in the second quarter of 2014 from 1.2 percent in the first quarter. Personal income growth ranged from 2.7 percent in North Dakota and Nebraska to 1.1 percent in New York and Alaska, with growth accelerating in 36 states. Inflation, as measured by the national price index for personal consumption expenditures, accelerated to 0.6 percent in the second quarter from 0.…
Real Consumer Spending Rose in August
Personal income rose 0.3 percent in August after rising 0.2 percent in July. Wages and salaries, the largest component of personal income, rose 0.4 percent in August after rising 0.2 percent in July.
Current-dollar disposable personal income (DPI), after-tax income, rose 0.3 percent in August after rising 0.2 percent in July.
Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in August…
GDP Turns up in Second Quarter
Real gross domestic product (GDP) increased 4.6 percent in the second quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. The second-quarter growth rate was revised up 0.4 percentage point from the “second” estimate released in August. In the first quarter, real GDP decreased 2.1 percent.
Second-quarter highlights Exports of notably nondurable industrial supplies and materials and…