The BEA Wire | BEA's Official Blog

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.75 trillion at the end of the first quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $3.1 billion, or 1.5 percent, to $219.3 billion in the first quarter of 2023.

The Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for 1.9 percent, or $432.4 billion, of current-dollar U.S. gross domestic product in 2021, an increase from 1.7 percent, or $363.2 billion, in 2020.

The U.S. goods and services trade deficit increased from $60.6 billion in March (revised) to $74.6 billion in April, as exports decreased and imports increased. The goods deficit increased $14.5 billion to $96.1 billion, and the services surplus increased $0.6 billion to $21.6 billion.

BEA Chief Economist Dennis Fixler was selected to receive the 2023 Julius Shiskin Memorial Award for Economic Statistics, which recognizes original and

Personal income increased $80.1 billion (0.4 percent at a monthly rate) in April. Disposable personal income (DPI) increased $79.4 billion (0.4 percent). Personal outlays increased $156.0 billion (0.8 percent) and consumer spending increased $151.7 billion (0.8 percent).

Real gross domestic product (GDP) increased at an annual rate of 1.3 percent in the first quarter of 2023, according to the "second" estimate. In the fourth quarter of 2022, real GDP increased 2.6 percent.

Real gross domestic product (GDP) for the U.S. Virgin Islands increased 2.8 percent in 2021 after decreasing 1.9 percent in 2020, according to statistics released today by the U.S. Bureau of Economic Analysis.

The U.S. goods and services trade deficit decreased from $70.6 billion in February (revised) to $64.2 billion in March, as exports increased and imports decreased.

Patricia Abaroa is the new Deputy Director of the Bureau of Economic Analysis, bringing decades of economic accounting experience to the post.

Personal income increased $67.9 billion, or 0.3 percent at a monthly rate, while consumer spending increased $8.2 billion, or less than 0.1 percent, in March.

Real gross domestic product increased at an annual rate of 1.1 percent in the first quarter of 2023, according to the “advance” estimate. In the fourth quarter of 2022, real GDP increased 2.6 percent.