The BEA Wire | BEA's Official Blog
GDP Growth Slows In Fourth Quarter
Real gross domestic product (GDP) increased 2.6 percent in the fourth quarter of 2013, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.2 percentage point more than the “second” estimate released in February. In the third quarter, the growth rate was 4.1 percent.
Value of Both Foreign Investments in the United States and U.S. Investments Abroad Increased in Fourth Quarter 2013
The U.S. net international investment position was -$4,577.5 billion (preliminary) at the end of the fourth quarter of 2013 as the value of foreign investments in the United States exceeded the value of U.S. investments abroad. At the end of the third quarter, the net position was -$4,171.8 billion (revised).
Value of Both Foreign Investments in the United States and U.S. Investments Abroad Increased in 2013
The U.S. net international investment position was -$4,577.5 billion (preliminary) at the end of 2013 as the value of foreign investments in the United States exceeded the value of U.S. investments abroad. At the end of 2012, the net position was -$3,863.9 billion.
The $713.6 billion decrease in the net position from the end of 2012 to the end of 2013 reflected a $1,039.8 billion increase in the value of foreign-owned assets in the…
State Personal Income: Fourth Quarter 2013
State personal income growth slowed to 0.6 percent in the fourth quarter of 2013, from 1.0 percent in the third quarter. Growth ranged from 1.2 percent in Texas to -0.6 percent in Iowa. The fourth-quarter personal income decline in Iowa and six other states reflected lower crop prices, which reduced the value of farm output and farm earnings. The inflation rate slowed to 0.3 percent in the fourth quarter from 0.5 percent in the third…
State Personal Income 2013
Average state personal income growth slowed to 2.6 percent in 2013 from 4.2 percent in 2012. State personal income growth ranged from 1.5 percent in West Virginia to 7.6 percent in North Dakota, with every state growing more slowly in 2013 than in 2012. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.1 percent in 2013 from 1.8 percent in 2012.
See the full report.
Restoration of Previously Eliminated Local Area Personal Income Statistics
The Bureau of Economic Analysis (BEA) will restore a portion of the statistical detail to its Local Area Personal Income (LAPI) program that had been eliminated due to sequestration and reduced funding levels in FY 2013.
In early May, BEA will release for 2001-2012 (1) local area employment statistics; (2) local area industry detail for compensation and earnings for 108 industries; (3) detail on farm income and expenses; (4) and…
BEA Director Steve Landefeld to Retire
Steve Landefeld, Director of the U.S. Bureau of Economic Analysis, plans to retire in early May. Dr. Landefeld took the helm in May 1995 and in his 19 years as director was instrumental in implementing major changes aimed at better measuring the dynamic U.S. and world economies.
Under Dr. Landefeld’s leadership, the non-partisan BEA:
Travel and Tourism Spending Accelerated in the Fourth Quarter of 2013
Real spending on travel and tourism accelerated in the fourth quarter of 2013, increasing at an annual rate of 4.2 percent after increasing 3.1 percent (revised) in the third quarter of 2013.
U.S. Current-Account Deficit Decreases in Fourth Quarter 2013
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $81.1 billion (preliminary) in the fourth quarter of 2013 from $96.4 billion (revised) in the third quarter of 2013. As a percentage of U.S. GDP, the deficit decreased to 1.9 percent from 2.3 percent. The previously published current-account deficit for the third quarter was $94.8 billion.
Attention BEA Data Hounds: Our Interactive Tables Look a Little Different, But They Function the Same Way
Eagle-eyed folks using our interactive data tables have probably noticed they look a tad different.
Despite some differences in the way they look, BEA’s interactive data tables operate in the same way.
The changes are part of a BEA upgrade to the next generation of language used to create Web pages, called HTML5. This upgrade will make it easier for BEA to develop applications that are more robust and design Web…
New Statistics Will Provide More Timely Snapshot of How Industries are Performing
Want to know how much manufacturing contributed to U.S. economic growth in a given quarter? How about educational services?
For the first time, the Bureau of Economic Analysis (BEA) will soon start producing on a regular basis quarterly estimates of economic activity generated by 22 industries.
January 2014 Trade Gap is $39.1 Billion
The U.S. monthly international trade deficit increased in January 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $39.0 billion in December (revised) to $39.1 billion in January as imports increased more than exports. The previously published December deficit was $38.7 billion. The goods deficit increased $0.7 billion from December to $59.3 billion in January; the services surplus…