The BEA Wire | BEA's Official Blog

Gross Domestic Product by State and Personal Income by State, 1st Quarter 2024

Real gross domestic product increased in 39 states and the District of Columbia in the first quarter of 2024, with the percent change ranging from 5.0 percent at an annual rate in Idaho to –4.2 percent in South Dakota. 

Personal Income and Outlays, May 2024

Personal income increased $114.1 billion (0.5 percent at a monthly rate) in May. Disposable personal income (DPI)—personal income less personal current taxes—increased $94.0 billion (0.5 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $56.4 billion (0.3 percent) and consumer spending increased $47.8 billion (0.2 percent). Personal…

Gross Domestic Product (Third Estimate), Corporate Profits, and GDP by Industry, First Quarter 2024

Real gross domestic product increased at an annual rate of 1.4 percent in the first quarter of 2024, according to the “third” estimate. In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending, housing investment, business investment, and state and local government that were partly offset by a decrease in inventory investment. Imports, which are a…

U.S. International Investment Position, 1st Quarter 2024

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$21.28 trillion at the end of the first quarter of 2024, according to statistics released today by the Bureau of Economic Analysis. Assets totaled $35.78 trillion, and liabilities were $57.06 trillion. At the end of the fourth quarter of 2023, the net investment position was –$19.85 trillion (revised). 

New State Distribution of Personal Income Statistics for 2022 Available

BEA has released a set of prototype statistics that help assess how households share in each state’s economic growth. The statistics, now available for 2022, show how personal income is distributed across each state’s households and provide metrics that can be used to study income inequality.

U.S. Current-Account Deficit Widens in 1st Quarter 2024

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 $15.9 billion, or 7.2 percent, to $237.6 billion in the first quarter of 2024. The widening mostly reflected an expanded deficit on goods. The first-quarter deficit was 3.4 percent of current-dollar gross domestic product, up from 3.2 percent in the fourth…

Gross Domestic Product for the U.S. Virgin Islands, 2022

Real gross domestic product for the U.S. Virgin Islands decreased 1.3 percent in 2022 after increasing 3.7 percent in 2021, according to statistics released today by the U.S. Bureau of Economic Analysis.

The decrease in real GDP reflected declines in exports, private fixed investment, government spending, and personal consumption expenditures that were partly offset by an increase in inventory investment. Imports, a…

A New Look at U.S. International Services Traders

U.S. firms in the finance and insurance sector led both U.S. exports and imports of services in 2022, according to a new Bureau of Economic Analysis article that presents a profile of companies that export and/or import services.

We’re More Than GDP: Key International Stats Come From Our Surveys

A blog from BEA Director Vipin Arora

Here is a fact that may surprise you: The Bureau of Economic Analysis conducts 17 surveys. Yes, the home of gross domestic product, personal consumption expenditure prices, and the current account is also in the big leagues when it comes to running surveys. Not just any surveys, but some of the most unique ones around—collecting information that ranges from direct investment and the activities of…

Marine Economy Satellite Account, 2022

The Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for $476.2 billion, or 1.8 percent, of current-dollar U.S. gross domestic product in 2022, an increase from $424.2 billion, or 1.8 percent, in 2021. The marine economy accounted for 1.7 percent, or $776.9 billion, of current-dollar gross output.

April 2024 Trade Gap is $74.6 Billion

The U.S. goods and services trade deficit increased from $68.6 billion in March (revised) to $74.6 billion in April, as imports increased more than exports. The goods deficit increased $5.9 billion to $99.2 billion, and the services surplus decreased $0.1 billion to $24.7 billion. 

Coming Soon: More International Investment Position Data, Quarterly Detail on Prices, Exchange Rates

BEA will begin publishing on June 26 new quarterly detail for the U.S. international investment position (IIP), a statistical balance sheet that presents the dollar value of U.S. financial assets and liabilities with respect to other countries at the end of each quarter and year.  The IIP statistics are published in BEA news releases and interactive data tables in March, June, September, and December.