The BEA Wire | BEA's Official Blog
Gross Domestic Product by State, 1st Quarter 2022
Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022, as real GDP for the nation decreased at an annual rate of 1.6 percent. The percent change in real GDP in the first quarter ranged from 1.2 percent in New Hampshire to –9.7 percent in Wyoming.
Personal Income and Outlays, May 2022
Personal income increased $113.4 billion, or 0.5 percent at a monthly rate, while consumer spending increased $32.7 billion, or 0.2 percent, in May. 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 5.4 percent in May, compared with 5.2 percent in April.
Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, First Quarter 2022
Real gross domestic product (GDP) decreased at an annual rate of 1.6 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the “second” estimate released in May. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. For more details, including…
U.S. International Investment Position, First Quarter 2022
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$17.75 trillion at the end of the first quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $34.00 trillion, and liabilities were $51.75 trillion. At the end of the fourth quarter of 2021, the net investment position was –$18.12 trillion.
U.S. Current-Account Deficit Widens in First Quarter 2022
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 $66.6 billion, or 29.6 percent, to $291.4 billion in the first quarter of 2022. The widening mostly reflected an increased deficit on goods. The first-quarter deficit was 4.8 percent of current-dollar gross domestic product, up from 3.7 percent in the fourth…
Personal Income by State, 1st Quarter 2022
State personal income increased 4.8 percent at an annual rate in the first quarter of 2022 after increasing 3.6 percent in the fourth quarter of 2021. The percent change in personal income across all states ranged from 8.5 percent in South Dakota to 1.3 percent in Hawaii.
Marine Economy Statistics for 2020
Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for 1.7 percent, or $361.4 billion, of current-dollar U.S. gross domestic product, or GDP, in 2020. The marine economy accounted for 1.7 percent, or $610.3 billion, of current-dollar gross output.
April 2022 Trade Gap is $87.1 Billion
The U.S. monthly international trade deficit decreased in April 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $107.7 billion in March (revised) to $87.1 billion in April, as exports increased and imports decreased. The previously published March deficit was $109.8 billion. The goods deficit decreased $19.1 billion in April to $107.7 billion. The services surplus increased $1.5…
Personal Income and Outlays, April 2022
Personal income increased $89.3 billion, or 0.4 percent at a monthly rate, while consumer spending increased $152.3 billion, or 0.9 percent, in April. 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 4.4 percent in April, compared with 5.0 percent in March.
Gross Domestic Product, First Quarter 2022 (Second Estimate) Corporate Profits, First Quarter 2022 (Preliminary Estimate)
Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the “advance” estimate released in April. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. For more details, including…
March 2022 Trade Gap is $109.8 Billion
The U.S. monthly international trade deficit increased in March 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $89.8 billion in February (revised) to $109.8 billion in March, as imports increased more than exports. The previously published February deficit was $89.2 billion. The goods deficit increased $20.4 billion in March to $128.1 billion. The services surplus increased $0.4…
Personal Income and Outlays, March 2022
Personal income increased $107.2 billion, or 0.5 percent at a monthly rate, while consumer spending increased $185.0 billion, or 1.1 percent, in March. 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 6.2 percent in March, compared with 6.8 percent in February.