The BEA Wire | BEA's Official Blog
American Samoa economy grows 1.1 percent in 2015
Estimates of gross domestic product for American Samoa show that real GDP–GDP adjusted to remove price changes–increased 1.1 percent in 2015 after increasing 1.3 percent in 2014. For comparison, real GDP for the United States (excluding the territories) increased 2.6 percent in 2015 after increasing 2.4 percent in 2014.
Bureau of Economic Analysis Releases 2015 GDP Data for American Samoa Territory Now Has GDP Data Spanning 14 Years Beginning in 2002
This is a guest blog by the Department of Interior
Assistant Secretary for Insular Areas Esther Kia’aina announced today that the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) has released gross domestic product (GDP) data for 2015 for American Samoa.
June 2016 Trade Gap is $44.5 Billion
The U.S. monthly international trade deficit increased in June 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $41.0 billion in May (revised) to $44.5 billion in June, as imports increased more than exports. The previously published May deficit was $41.1 billion. The goods deficit increased $3.8 billion in June to $66.0 billion. The services surplus increased $0.3 billion to $21.5…
Consumer Spending on Durable Goods Rises in June
Personal income increased 0.2 percent in June, the same increase as in May. Wages and salaries, the largest component of personal income, increased 0.3 percent in June after increasing 0.2 percent in May.
GDP Update Finds Little Change in Economic Picture of Last 3 Years
The Bureau of Economic Analysis released its annual update of GDP and related statistics today, adjusting its picture of U.S. economic activity during the past three years to reflect newly available data.
GDP Increases in Second Quarter
Real gross domestic product (GDP) increased 1.2 percent in the second quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent (revised).
Gross Domestic Product by State: First Quarter 2016
Real gross domestic product (GDP) increased in 37 states and the District of Columbia in the first quarter of 2016, according to statistics on the geographic breakout of GDP released today by the Bureau of Economic Analysis. Real GDP by state growth, at an annual rate, ranged from 3.9 percent in Arkansas to –11.4 percent in North Dakota. Construction; health care and social assistance; and retail trade were…
Detailed Direct Investment Data for 2015 Now Available
Detailed statistics on U.S. direct investment abroad – or “outward direct investment”– and on foreign direct investment in the United States – or “inward direct investment” – are now available on BEA’s website.
BEA Announces Selection of New Deputy Director
Sarahelen “Sally” Thompson will become the Bureau of Economic Analysis’ new Deputy Director, starting on July 24.
Industry in Focus: Construction on the Rise
Although the U.S. economy has changed considerably over time, construction is an industry that’s maintained its importance. We no longer depend on telegraphs as we once did, but we’ll always need a place to live. Construction also is an industry in which the products can differ to a great degree. While cellphones may be quite similar to one another, office buildings take shapes ranging from the Empire State Building to a one-story structure…
Gross Domestic Product by Industry: First Quarter 2016
Construction; health care and social assistance; and retail trade were the leading contributors to the increase in U.S. economic growth in the first quarter of 2016. Overall, 11 of 22 industry groups contributed to the 1.1 percent increase in real GDP in the first quarter.
What's New for the 2016 Annual GDP Update?
The Bureau of Economic Analysis updates GDP figures and their major components every summer, sweeping in more comprehensive data that weren’t available for earlier estimates. The 2016 annual update, coming July 29, also will feature some of BEA’s efforts to continuously improve its measurement of the U.S. economy.
Summer updates to national income and product accounts incorporate data from annual Census Bureau surveys of businesses…