The BEA Wire | BEA's Official Blog
Announcing the Commerce Data Service
The Department of Commerce provides valuable services and data products that fuel the modern technology services Americans rely on every day. These data sets include information on technological innovation from the Patent and Trademark Office, demographic and economic data from the Census Bureau and the Bureau of Economic Analysis, export data from the International Trade Administration, and information on natural phenomena from the National…
Industry in Focus: Finance and Insurance and More
This quarter, Industry in Focus is actually Industries in Focus. Beginning with this quarterly GDP by Industry release, we’re delighted to introduce a new set of products—the Quarterly Underlying Detail Tables. Previously, quarterly GDP by industry statistics were only available for 22 industries.
Finance and Insurance Led Growth in the Second Quarter: Gross Domestic Product by Industry
Finance and insurance; professional, scientific, and technical services; and wholesale trade were the leading contributors to the increase in U.S. economic growth in the second quarter of 2015. Overall, 18 of 22 industry groups contributed to the 3.9 percent increase in real GDP in the second quarter.
September 2015 Trade Gap is $40.8 Billion
The U.S. monthly international trade deficit decreased in September 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $48.0 billion in August (revised) to $40.8 billion in September, as exports increased and imports decreased. The previously published August deficit was $48.3 billion. The goods deficit decreased $7.3 billion from August to $60.3 billion in September. The services…
Real Consumer Spending Increases in September
Personal income increased 0.1 percent in September, after increasing 0.4 percent in August. Wages and salaries, the largest component of personal income, remained flat in September after rising 0.5 percent in August.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.1 percent in September after increasing 0.4 percent in August.
Real DPI, income adjusted for taxes and inflation, increased…
GDP Increases in Third Quarter
Real gross domestic product (GDP) increased 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent.
GDP highlights The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services increased, notably on health care. Spending on nondurable and durable goods also rose.
Guest Blog: Spending on Disease Treatment has Increased, but Good Health Outcomes Have Too
by Cynthia Cox Kaiser Family Foundation
(This post, from the Kaiser Family Foundation, is based on BEA’s new health care statistics released earlier this year.)
Coming Soon: Webinar for BE-180 Survey Respondents
The Bureau of Economic Analysis (BEA) will be conducting an informational webinar on Thursday, October 22, at 1 p.m., to discuss the BE-180 Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign persons. Topics of discussion will include:
August 2015 Trade Gap is $48.3 Billion
The U.S. monthly international trade deficit increased in August 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $41.8 billion in July (revised) to $48.3 billion in August, as exports decreased and imports increased. The previously published July deficit was $41.9 billion. The goods deficit increased $6.6 billion from July to $67.9 billion in August. The services surplus increased…
BEA's Factory Factoids in Honor of Manufacturing Day
U.S. factories do their part to keep the U.S. economy humming. Did you know that manufacturing accounts for 12 percent of overall U.S. economic activity as measured by Gross Domestic Product? The Bureau of Economic Analysis produces a slew of economic statistics on how manufacturing and other U.S. industries are performing and impact the economy. Given that Oct.
State Personal Income: Second Quarter 2015
State personal income grew 0.9 percent on average in the second quarter of 2015, after growing 0.8 percent in the first quarter. Personal income grew in every state except Oklahoma in the second quarter. In the first quarter, personal income grew in 34 states. Second-quarter personal income growth rates ranged from zero in Oklahoma to 1.5 percent in the state of Washington.
For more information, read the full report.
Value of U.S. Liabilities Decreased More Than U.S. Assets in Second Quarter 2015
The U.S. net international investment position was -$6,688.3 billion (preliminary) at the end of the second quarter of 2015 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the first quarter of 2015, the net investment position was -$6,801.4 billion (revised).