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Gross Domestic Product, Fourth Quarter and Year 2020
Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. The increase was 0.1 percentage point higher than the “advance” estimate released in January. In the…
Gross Domestic Product for Guam, 2019
The estimates of GDP for Guam show that real GDP—GDP adjusted to remove price changes—increased 2.0 percent in 2019.
2020 Trade Gap is $678.7 Billion
The U.S. international trade deficit increased in 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $576.9 billion in 2019 to $678.7 billion in 2020, as exports decreased more than imports. As a percentage of U.S. gross domestic product, the goods and services deficit was 3.2 percent in 2020, up from 2.7 percent in 2019. The goods deficit increased from $864.3 billion in 2019 to $915…
December 2020 Trade Gap is $66.6 Billion
The U.S. monthly international trade deficit decreased in December 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $69.0 billion in November (revised) to $66.6 billion in December, as exports increased more than imports. The previously published November deficit was $68.1 billion. The goods deficit decreased $2.8 billion in December to $84.2 billion. The services surplus decreased…
Personal Income and Outlays, December 2020
Personal income increased 0.6 percent (monthly rate) while consumer spending decreased 0.2 percent in December as many provisions of the CARES Act continued to wind down before the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act was enacted on December 27, 2020. Additionally, new restrictions and closures took effect in some areas of the United States.
Gross Domestic Product, Fourth Quarter and Year 2020
Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. In the third quarter, real GDP increased 33.4 percent. For more details, including source data, see the…
Innovation at BEA: Data Projects in 2021
The Bureau of Economic Analysis continually explores the development of new statistics as part of its mission to provide Americans with a timely, accurate, and in-depth understanding of the changing U.S. economy. We’re working on innovations that are leading to expanded data in several areas.
November 2020 Trade Gap is $68.1 Billion
The U.S. monthly international trade deficit increased in November 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $63.1 billion in October (revised) to $68.1 billion in November, as imports increased more than exports. The previously published October deficit was $63.1 billion. The goods deficit increased $5.0 billion in November to $86.4 billion. The services surplus decreased…
U.S. International Investment Position Third Quarter 2020
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$13.95 trillion at the end of the third quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $29.41 trillion and liabilities were $43.36 trillion. At the end of the second quarter, the net investment position was –$13.08 trillion.
Gross Domestic Product by State, 3rd Quarter 2020
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2020, as real GDP for the nation increased at an annual rate of 33.4 percent. The percent change in real GDP in the third quarter ranged from 52.2 percent in Nevada to 19.2 percent in the District of Columbia.
Personal Income and Outlays, November 2020
Personal income decreased 1.1 percent while consumer spending decreased 0.4 percent in November as federal economic recovery payments and pandemic-related assistance programs continued to wind down.
Gross Domestic Product (Third Estimate), Corporate Profits (Revised), and GDP by Industry, Third Quarter 2020
Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The change was 0.3 percentage point higher than the “second” estimate released in November. In the second quarter of 2020, real GDP decreased 31.4 percent. For more details, including source data, see the Technical Note and…