The BEA Wire | BEA's Official Blog
Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Third Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The increase was revised up 0.1 percentage point from the “advance” estimate released in October. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening…
Personal Income by County and Metropolitan Area, 2020
In 2020, personal income increased in 3,040 counties, decreased in 69, and was unchanged in 3. Personal income increased 6.4 percent in the metropolitan portion of the United States and increased 7.6 percent in the nonmetropolitan portion. Personal income estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted “stay-at-home” orders. The full economic effects of the COVID-19 pandemic cannot be…
Activities of U.S. Multinational Enterprises, 2019
Worldwide employment by U.S. multinational enterprises (MNEs) increased 2.4 percent to 43.9 million workers in 2019 from 42.9 million workers in 2018.
BEA Appoints Three New Advisory Committee Members
Three new members are joining the BEA Advisory Committee: Nela Richardson of Automatic Data Processing Inc. (ADP); Louise Sheiner, Brookings Institution; and Heather Stephens, West Virginia University.
The committee advises BEA’s director on matters related to the development and improvement of BEA’s national, regional, and international statistics and provides recommendations from the perspectives of the economics profession,…
Outdoor Recreation Satellite Account, U.S. and States, 2020
The new U.S. data show that the outdoor recreation economy accounted for 1.8 percent ($374.3 billion) of current-dollar gross domestic product for the nation in 2020. At the state level, outdoor recreation value added as a share of state GDP ranged from 4.3 percent in Montana to 1.2 percent in New York and Connecticut. The share was 0.8 percent in the District of Columbia. Outdoor recreation estimates were impacted by the response to the…
September 2021 Trade Gap is $80.9 Billion
The U.S. monthly international trade deficit increased in September 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $72.8 billion in August (revised) to $80.9 billion in September, as imports increased and exports decreased. The previously published August deficit was $73.3 billion. The goods deficit increased $8.9 billion in September to $98.2 billion. The services surplus…
Personal Income and Outlays, September 2021
Personal income decreased$216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased$93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.5 percent in September, compared with 9.2 percent in August.
Gross Domestic Product, Third Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country. In the third quarter, government assistance…
Personal Consumption Expenditures by State, 2020
State personal consumption expenditures (PCE) decreased 2.6 percent in 2020 after increasing 3.7 percent in 2019. The percent change in PCE across all 50 states and the District of Columbia ranged from 1.2 percent in Idaho and Utah to –5.8 percent in the District of Columbia. The PCE by state estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted "stay-at-home" orders. This led to rapid changes in…
August 2021 Trade Gap is $73.3 Billion
The U.S. monthly international trade deficit increased in August 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.3 billion in July (revised) to $73.3 billion in August, as imports increased more than exports. The previously published July deficit was $70.1 billion. The goods deficit increased $1.6 billion in August to $89.4 billion. The services surplus decreased $1.4 billion…
Gross Domestic Product by State, 2nd Quarter 2021
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021, as real GDP for the nation increased at an annual rate of 6.7 percent. The percent change in real GDP in the second quarter ranged from 9.7 percent in Nevada to 1.8 percent in Alaska.
Personal Income and Outlays, August 2021
Personal income increased $35.5 billion, or 0.2 percent at a monthly rate, while consumer spending increased $130.5 billion, or 0.8 percent, in August. The increase in personal income primarily reflected increases in compensation as well as government social benefits, which reflect advance Child Tax Credit payments authorized by the American Rescue Plan. In addition to presenting estimates for August 2021, these highlights provide comparisons…