The BEA Wire | BEA's Official Blog
August 2014 Trade Gap is $40.1 Billion
The U.S. monthly international trade deficit decreased in August 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $40.3 billion in July (revised) to $40.1 billion in August as exports increased more than imports. The previously published July deficit was $40.5 billion. The goods deficit increased $0.1 billion from July to $59.9 billion in August; the services surplus increased $0.3…
State Personal Income: Second Quarter 2014
State personal income growth accelerated to 1.5 percent on average in the second quarter of 2014 from 1.2 percent in the first quarter. Personal income growth ranged from 2.7 percent in North Dakota and Nebraska to 1.1 percent in New York and Alaska, with growth accelerating in 36 states. Inflation, as measured by the national price index for personal consumption expenditures, accelerated to 0.6 percent in the second quarter from 0.…
Real Consumer Spending Rose in August
Personal income rose 0.3 percent in August after rising 0.2 percent in July. Wages and salaries, the largest component of personal income, rose 0.4 percent in August after rising 0.2 percent in July.
Current-dollar disposable personal income (DPI), after-tax income, rose 0.3 percent in August after rising 0.2 percent in July.
Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in August…
GDP Turns up in Second Quarter
Real gross domestic product (GDP) increased 4.6 percent in the second quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. The second-quarter growth rate was revised up 0.4 percentage point from the “second” estimate released in August. In the first quarter, real GDP decreased 2.1 percent.
Second-quarter highlights Exports of notably nondurable industrial supplies and materials and…
Value of Both U.S. Assets and U.S. Liabilities Increased in Second Quarter 2014
The U.S. net international investment position was -$5,445.1 billion (preliminary) at the end of the second quarter of 2014 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the first quarter, the net position was -$5,511.7 billion (revised).
Travel and Tourism Spending Turned up in the Second Quarter of 2014
Real spending on travel and tourism turned up in the second quarter of 2014, increasing at an annual rate of 2.1 percent after decreasing 1.1 percent (revised) in the first quarter of 2014. Real gross domestic product (GDP) also experienced an upturn, increasing 4.2 percent (second estimate) in the second quarter after decreasing 2.1 percent in the first quarter. All major categories, with the exception of “traveler accommodations”…
U.S. Current-Account Deficit Decreases in Second Quarter 2014
The U.S. current-account deficit-the combined balances on trade in goods and services, income, and net unilateral current transfers – decreased to $98.5 billion (preliminary) in the second quarter of 2014 from $102.1 billion (revised) in the first quarter of 2014. As a percentage of U.S. GDP, the deficit decreased to 2.3 percent from 2.4 percent. The previously published current-account deficit for the first quarter was $111.2 billion.
Second Quarter 2014 Travel and Tourism Spending Data to Be Released Sept. 18
Statistics on what Americans and foreigners spent on travel and tourism in the United States in the second quarter of 2014 will be released Thursday, Sept. 18 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…
Widespread Growth Across Metropolitan Areas
Real GDP increased in 292 of the nation’s 381 metropolitan areas in 2013, led by widespread growth in finance, insurance, real estate, rental, and leasing; nondurable-goods manufacturing; and professional and business services.
BEA to Release 2013 Metro-Area GDP Statistics Sept. 16
Statistics on the 2013 economic performance of the nation’s 381 metropolitan areas will be released Tuesday, Sept. 16 at 8:30 a.m. EDT by the U.S. Bureau of Economic Analysis (BEA).
The release will also include revised statistics for the years 2001-2012, along with maps of the eight BEA economic regions and a table detailing the contributions of thirteen principal industries to the economic growth of each area. The news release,…
American Samoa Economy Shrinks in 2013; Consumer Spending Grows
Estimates of gross domestic product (GDP) for American Samoa show that real GDP — adjusted to remove price changes — decreased 2.4 percent in 2013. In contrast, real GDP for the U.S. (excluding the territories) increased 2.2 percent in 2013.
The decline in the American Samoa economy reflected a decrease in territorial government spending that was partly offset by increases in consumer spending and private fixed investment.
Brian Moyer Named New BEA Director
Brian Moyer was named Director of the Bureau of Economic Analysis, bringing more than 20 years of experience in economic statistics to the post. His new status as Director takes effect Sept. 21.
Dr. Moyer is currently BEA’s Deputy Director and has served as Acting Director since May 2 when the agency’s previous chief retired.