The BEA Wire | BEA's Official Blog

The Bureau of Economic Analysis continually explores the development of new statistics as part of its mission to provide Americans with a timely, accurate, and in-depth understanding of the changing U.S. economy. We’re working on innovations that are leading to expanded data in several areas.

The U.S. monthly international trade deficit increased in November 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $63.1 billion in October (revised) to $68.1 billion in November, as imports increased more than exports.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$13.95 trillion at the end of the third quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA).

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2020, as real GDP for the nation increased at an annual rate of 33.4 percent.

Personal income decreased 1.1 percent while consumer spending decreased 0.4 percent in November as federal economic recovery payments and pandemic-related assistance programs continued to wind down.

Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19.

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 $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020.

State personal income decreased 10.0 percent at an annual rate in the third quarter of 2020, after increasing 35.8 percent in the second quarter. Personal income decreased in every state and the District of Columbia, ranging from –29.9 percent in West Virginia to –0.6 percent in Georgia.

The percent change in real metropolitan area personal income ranged from 7.6 percent in Hanford-Corcoran, CA, to –3.2 percent in Panama City, FL, and Wheeling, WV-OH.

The percent change in real state personal income ranged from 4.1 percent in Maine to 0.7 percent in Hawaii, Wyoming, and Rhode Island.

The estimates of gross domestic product for American Samoa show that real GDP—GDP adjusted to remove price changes—decreased 1.4 percent in 2019.

Real gross domestic product (GDP) increased in 2,484 counties, decreased in 612 counties, and was unchanged in 17 counties in 2019. The percent change in real GDP ranged from 62.5 percent in Greensville + Emporia, VA, to –34.2 percent in Jackson County, WV.