The BEA Wire | BEA's Official Blog

GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 2.9 percent in the fourth quarter of 2017, according to the "third" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

State Personal Income Rises in 2017

State personal income increased 3.1 percent on average in 2017, after increasing 2.3 percent in 2016. In 2017, personal income increased in all states and the District of Columbia except one, North Dakota. The percent change in personal income across all states ranged from 4.8 percent in Washington to -0.3 percent in North Dakota.

U.S. Current-Account Deficit Increases in Fourth Quarter 2017

The U.S. current-account deficit increased to $128.2 billion (preliminary) in the fourth quarter of 2017 from $101.5 billion (revised) in the third quarter of 2017. As a percentage of U.S. GDP, the deficit increased to 2.6 percent from 2.1 percent. The previously published current-account deficit for the third quarter was $100.6 billion.

Initial Estimates Show Digital Economy Accounted for 6.5 Percent of GDP in 2016

The Bureau of Economic Analysis released, for the first time, preliminary statistics and an accompanying report exploring the size and growth of the digital economy. Goods and services that are primarily digital accounted for 6.5 percent of the U.S. economy, or $1.2 trillion, in 2016, after a decade of growing faster than the U.S. economy overall, BEA’s research shows.

From 2006 to 2016, the digital economy grew at an average annual…

Initial Statistics on the Size and Growth of the Digital Economy to be Released Thursday

The Bureau of Economic Analysis will release, for the first time, preliminary statistics and an accompanying report exploring the size and growth of the digital economy at 10:30 a.m. on Thursday, March 15.

The report will be available at BEA’s website, www.bea.gov.

The report will include in its definition of the digital economy three major types of goods and services:

BEA Works with Partners to Understand Differences in Bilateral Trade Statistics

Trade statistics produced by the Bureau of Economic Analysis provide policymakers and other stakeholders with critical information for understanding the role of the United States in the global economy. As the size and complexity of international transactions have increased, BEA is working on a number of fronts to make its trade statistics even better.

January 2018 Trade Gap is $56.6 Billion

The U.S. monthly international trade deficit increased in January 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $53.9 billion in December (revised) to $56.6 billion in January, as exports decreased more than imports. The previously published December deficit was $53.1 billion. The goods deficit increased $2.8 billion in January to $76.5 billion. The services surplus increased $0.…

2017 Trade Gap is $568.4 Billion

The U.S. international trade deficit increased in 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $504.8 billion in 2016 to $568.4 billion in 2017, as imports increased more than exports. As a percentage of U.S. gross domestic product, the goods and services deficit was 2.9 percent in 2017, up from 2.7 percent in 2016. The goods deficit increased from $752.5 billion in 2016 to $811…

New Arts and Culture Stats Zoom in on States

In the big picture, arts and culture account for 4.2 percent of the U.S. economy in the Bureau of Economic Analysis' latest statistics. Want to zoom in for a close-up? Now you can, using detailed data that are available for each state for the first time.

Disposable Personal Income Rises in January

Personal income increased 0.4 percent in January, the same increase as in December. Wages and salaries, the largest component of personal income, increased 0.5 percent in January after increasing 0.4 percent in December.

GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 2.5 percent in the fourth quarter of 2017, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

Coming Attraction: See How Arts and Culture Impact Every State

The Bureau of Economic Analysis is lifting the curtain on the role arts and culture play in each state's economy.

On March 6, BEA will premiere statistics showing for the first time how much arts and culture contribute to the gross domestic product, or GDP, of all 50 states and the District of Columbia. The arts and cultural economy includes music, theater, design, museums, historic sites, natural parks and more, as well as supporting…