The BEA Wire | BEA's Official Blog
Real Personal Income for Metropolitan Areas, 2013
Real personal income across all regions rose by an average of 0.8 percent in 2013. This growth rate reflects the year-over-year change in nominal personal income across all regions adjusted by the change in the national personal consumption expenditures (PCE) price index. On a nominal basis, personal income across all regions grew an average of 2.0 percent in 2013. In 2013, the U.S. PCE price index grew 1.2 percent.
Value of U.S. Assets Increased More than U.S. Liabilities in First Quarter 2015
The U.S. net international investment position was -$6,794.0 billion (preliminary) at the end of the first quarter of 2015 as the value of U.S. liabilities exceeded the value of U.S .assets. At the end of the fourth quarter of 2014, the net investment position -$7,019.7 billion (revised).
BEA to Release 2013 Statistics on Real Personal Income for States and Metro Areas July 1
The Bureau of Economic Analysis will publish real personal income statistics for the 50 states, the District of Columbia, and all metropolitan areas on Wednesday, July 1 at 8:30 a.m. eastern time.
The report provides annual statistics for 2013. These statistics use regional price parities in combination with the personal consumption expenditure price index to adjust BEA’s personal income data for differences in price levels across the…
Real Consumer Spending Rises in May
Personal income increased 0.5 percent in May, the same increase as in April. Wages and salaries, the largest component of personal income, rose 0.5 percent in May after rising 0.3 percent in April.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in May after rising 0.4 percent in April.
Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in May…
First-Quarter GDP Revised Up
Real gross domestic product (GDP) decreased 0.2 percent in the first quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.5 percentage point from the “second” estimate released in May. In the fourth quarter of 2014, real GDP increased 2.2 percent.
Travel and Tourism Spending Decelerated in the First Quarter of 2015
Real spending (output) on travel and tourism decelerated in the first quarter of 2015, increasing at an annual rate of 2.0 percent after increasing 4.9 percent (revised) in the fourth quarter of 2014. By comparison, real gross domestic product (GDP) turned down, decreasing 0.7 percent (second estimate) in the first quarter after increasing 2.2 percent.
State Personal Income: First Quarter 2015
State personal income grew 0.9 percent on average in the first quarter of 2015, after growing 1.1 percent in the fourth quarter of 2014. Personal income grew in 46 states and growth accelerated in 15 of those states. The fastest growth, 1.3 percent, was in Florida. Personal income fell in four states, with the largest decline, 1.2 percent, in Iowa. The national price index for personal consumption expenditures, fell 0.5 percent in the first…
First Quarter 2015 Travel and Tourism Spending Data to Be Released June 23
Statistics on what Americans and foreigners spent on travel and tourism in the United States in the first quarter of 2015 will be released Tuesday, June 23 by the Bureau of Economic Analysis (BEA).
The statistics, part of BEA’s Travel and Tourism Satellite Accounts, provide a breakdown of the various components of travel and tourism spending, including lodging, meals, air travel, and shopping. The statistics will also provide data on…
Why Does BEA Revise GDP Estimates?
Each summer, the Bureau of Economic Analysis updates its Gross Domestic Product estimates to incorporate sources of data previously unavailable and make improvements in methodology –– all with the goal of providing the most accurate measure of the U.S. economy’s performance.
First Quarter State Personal Income Statistics to be Released June 22
Preliminary statistics on people’s incomes by state in the first quarter of 2015 will be released Monday, June 22 by the U.S. Bureau of Economic Analysis (BEA).
These state personal income statistics will provide BEA’s first look at state economies for the January-March quarter of 2015 and serve as a basis for government and business decision making. For example:
U.S. Current-Account Deficit Increases in First Quarter 2015
The U.S. current-account deficit – a net measure of transactions between the United States and the rest of the world in goods, services, primary income (investment income and compensation), and secondary income (current transfers) – increased to $113.3 billion (preliminary) in the first quarter of 2015 from $103.1 billion (revised) in the fourth quarter of 2014. As a percentage of U.S. GDP, the deficit increased to 2.6 percent from 2.3…
Preview of the 2015 Annual Revision of the National Income and Product Accounts
On July 30, the Bureau of Economic Analysis will release its annual update of the national income and product accounts (NIPAs) in conjunction with the advance estimate for the second quarter of 2015. As is usual for annual NIPA revisions, the revised estimates will incorporate newly available source data that are more complete, more detailed, and otherwise more reliable than those that were previously incorporated.
This year’s annual…