The BEA Wire | BEA's Official Blog
Marine Economy Satellite Account, 2014-2019
The first official Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show that the marine economy accounted for 1.9 percent, or $397 billion, of current-dollar U.S. gross domestic product in 2019.
The new statistics show that inflation-adjusted (real) GDP for the marine economy grew 4.2 percent in 2019, faster than the 2.2 percent growth for the overall U.S. economy. Real gross output,…
April 2021 Trade Gap is $68.9 Billion
The U.S. monthly international trade deficit decreased in April 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $75.0 billion in March (revised) to $68.9 billion in April, as exports increased and imports decreased. The previously published March deficit was $74.4 billion. The goods deficit decreased $6.2 billion in April to $86.7 billion. The services surplus decreased $0.1…
Personal Income and Outlays, April 2021
Personal income decreased $3.21 trillion, or 13.1 percent at a monthly rate, while consumer spending increased $80.3 billion, or 0.5 percent, in April. Economic impact payments established by the American Rescue Plan Act, declined sharply in April. In addition to presenting estimates for April 2021, these highlights provide comparisons to February 2020, the last month before the onset of the COVID-19 pandemic in the United States. For more…
Gross Domestic Product, First Quarter 2021 (Second Estimate) Corporate Profits, First Quarter 2021 (Preliminary Estimate)
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19pandemic. The increase was the same rate as the “advance” estimate released in April.
Gross Domestic Product for the U.S. Virgin Islands (USVI), 2019
The estimates of GDP for the U.S. Virgin Islands show that real GDP—GDP adjusted to remove price changes— increased 2.2 percent in 2019 after increasing 1.6 percent in 2018.
The increase in real GDP reflected increases in private fixed investment, exports, and consumer spending. These increases were partly offset by decreases in inventory investment and government spending. Imports, which are a subtraction item in the calculation of…
BEA Updates Tool for Economic Impact Studies
How would expanding a community college, building a new factory, or increasing government spending on roads impact your local economy? BEA has a tool that can help answer questions like these.
Local planners, businesspeople, and policymakers use the Regional Input-Output Modeling System to predict the potential economic impacts of a variety of projects and events, even natural disasters like hurricanes. The modeling system, known as…
March 2021 Trade Gap is $74.4 Billion
The U.S. monthly international trade deficit increased in March 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.5 billion in February (revised) to $74.4 billion in March, as imports increased more than exports. The previously published February deficit was $71.1 billion. The goods deficit increased $3.6 billion in March to $91.6 billion. The services surplus decreased $0.3…
Personal Income and Outlays, March 2021
Personal income increased $4.21 trillion, or 21.1 percent at a monthly rate, while consumer spending increased $616.0 billion, or 4.2 percent, in March. Economic impact payments established by the American Rescue Plan Act of 2021, which was enacted on March 11, 2021, were distributed. In addition to presenting estimates for March 2021, these highlights provide comparisons to February 2020, the last month before the onset of the COVID-19…
Gross Domestic Product, First Quarter 2021
Real gross domestic product increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the first quarter, government assistance payments, such as direct economic impact payments, expanded unemployment benefits, and Paycheck Protection Program loans, were distributed to households and…
New Data on the Sources of Economic Growth
BEA and the Bureau of Labor Statistics have updated and expanded their joint data set showing sources of growth or decline in industries and how those sources affect the U.S. economy overall. New detail was added about the contributions of information technology and other types of capital assets.
February 2021 Trade Gap is $71.1 Billion
The U.S. monthly international trade deficit increased in February 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $67.8 billion in January (revised) to $71.1 billion in February, as exports decreased more than imports. The previously published January deficit was $68.2 billion. The goods deficit increased $2.8 billion in February to $88.0 billion. The services surplus decreased $0…
Gross Domestic Product for the CNMI, 2019
Today, the Bureau of Economic Analysis (BEA) is releasing estimates of gross domestic product (GDP) for the Commonwealth of the Northern Mariana Islands (CNMI) for 2019, in addition to estimates of GDP by industry and compensation by industry for 2018. These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior.