The BEA Wire | BEA's Official Blog

Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) First Quarter 2023

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. The GDP estimate for the first quarter was revised up 0.2 percentage point from the "advance" estimate, primarily reflecting an upward revision to inventory investment.

Gross Domestic Product for the U.S. Virgin Islands, 2021

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 increase in real GDP reflected increases in exports and personal consumption expenditures. These increases were partly offset by decreases in private inventory investment, private fixed investment, and government spending.…

March 2023 Trade Gap is $64.2 Billion

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. The goods deficit decreased $6.4 billion to $86.6 billion, and the services surplus decreased less than $0.1 billion to $22.4 billion.

Patricia Abaroa Named New BEA Deputy Director

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

Personal Income and Outlays, March 2023

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. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 5.1 percent in March, compared with 4.8 percent in February.

Gross Domestic Product, First Quarter 2023 (Advance)

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. The increase in the first quarter primarily reflected an increase in consumer spending that was partly offset by a decrease in inventory investment.

February 2023 Trade Gap is $70.5 Billion

The U.S. goods and services trade deficit increased from $68.7 billion in January (revised) to $70.5 billion in February, as exports decreased more than imports. The goods deficit increased $2.7 billion to $93.0 billion, and the services surplus increased $0.8 billion to $22.4 billion.

Gross Domestic Product by State and Personal Income by State, Year 2022

Real gross domestic product (GDP) increased in 42 states and the District of Columbia in 2022, with the percent change in real GDP ranging from 4.9 percent in Idaho to –2.4 percent in Alaska.

Gross Domestic Product by State and Personal Income by State, 4th Quarter 2022

Real gross domestic product (GDP) increased in 46 states and the District of Columbia in the fourth quarter of 2022, with the percent change in real GDP ranging from 7.0 percent in Texas to –4.3 percent in South Dakota.

Personal Income and Outlays, February 2023

Personal income increased $72.9 billion, or 0.3 percent at a monthly rate, while consumer spending increased $27.9 billion, or 0.2 percent, in February. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 4.6 percent in February, compared with 4.4 percent in January.

Gross Domestic Product (Third Estimate), Corporate Profits, and GDP by Industry, Fourth Quarter and Year 2022

Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.

U.S. International Investment Position, Year 2022

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.12 trillion at the end of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $31.68 trillion, and liabilities were $47.80 trillion. At the end of 2021, the net investment position was –$18.12 trillion.