The BEA Wire | BEA's Official Blog
Detailed Direct Investment Data Now Available for 2013
The U.S. Bureau of Economic Analysis (BEA) has released additional statistics on U.S. direct investment abroad – or “outward direct investment” – and on foreign direct investment in the United States – or “inward direct investment” for 2013 and revised statistics for 2011 and 2012.
GDP Turns Up in Second Quarter
Real gross domestic product (GDP) increased 4.0 percent in the second quarter of 2014, according to the “advance” estimate released today by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent (revised).
Second-quarter highlights The upturn in real GDP growth was mainly driven by upturns in exports and in private nonfarm inventory investment as well as an acceleration in consumer spending, notably for…
New BEA Data Provide Insights on How Harsh Winter Impacted Industries in First Quarter
How much did the harsh winter weather affect the U.S. economy in the first quarter of this year?
We know that the economy, as measured by gross domestic product (GDP), contracted at an annual rate of 2.9 percent over January, February and March, the first quarterly decline in three years. But how were different industries affected and was weather a factor? New data released today by the U.S. Bureau of Economic Analysis provide…
Gross Domestic Product by Industry: First Quarter 2014
Real gross domestic product (GDP) decreased at an annual rate of 2.9 percent in the first quarter of 2014. Both private services- and goods-producing industries contributed to the decrease, while the government sector increased slightly.
Measurement of the U.S. Economy is a Job that Never Stops; Here's Why GDP Numbers Get Revised
Like fireworks and baseball, BEA’s annual revision of GDP is a summer tradition. Toward the end of every July, the U.S. Bureau of Economic Analysis incorporates previously unavailable sources of data for the past three years into its estimates of the U.S. economy’s performance.
New Commerce Department report explores huge benefits, low cost of government data
Today we are pleased to roll out an important new Commerce Department report on government data. “Fostering Innovation, Creating Jobs, Driving Better Decisions The Value of Government Data,” arrives as our society increasingly focuses on how the intelligent use of data can make our businesses more competitive, our governments smarter, and our citizens better informed.
5 Q's for U.S. Department of Commerce's Under Secretary of Economic Affairs Mark Doms
The Center for Data Innovation spoke with Mark Doms, Under Secretary of Economic Affairs at the U.S. Department of Commerce, in Washington, DC. Under Secretary Doms discussed the current efforts at the Commerce Department to increase the availability and timeliness of high-quality data, as well as promote data-driven innovation in the government and economy.
This interview has been lightly edited.
Looking for Economic Information on Coastal Areas? Visit BEA's Website
How much economic activity is generated by a state in a coastal area? How much do people living in coastal areas earn?
A visit to BEA’s Economic Information for Coastal Areas section on its website provides you with that information – and much more.
May 2014 Trade Gap is $44.4 Billion
The U.S. monthly international trade deficit decreased in May 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.0 billion in April (revised) to $44.4 billion in May as exports increased and imports decreased. The previously published April deficit was $47.2 billion. The goods deficit decreased $2.4 billion from April to $63.3 billion in May; the services surplus increased $0.3…
BEA to Release Modified Regional Input-Output Model in 2015
The Bureau of Economic Analysis plans to release in 2015 a modified economic model to replace the original Regional Input-Output Modeling System (RIMS II). Cost savings will be realized because the modified model will be updated less frequently.
Much like RIMS II, the modified model will produce regional “multipliers” that can be used in economic impact studies to estimate the total economic impact of a project on a region.
Value of U.S. Assets Decreased but Value of U.S. Liabilities Increased in First Quarter 2014
The U.S. net international investment position was -$5,539.3 billion (preliminary) at the end of the first quarter of 2014 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the fourth quarter, the net position was -$5,383.0 billion (revised).
How BEA Regional Data is Used to Distribute Federal Funds to State, Local Governments
Did you know that each year BEA regional economic statistics, such as annual personal income and per capita personal income are used to allocate billions of dollars in federal funds to states and local governments? In fiscal year 2013, about $308 billion in federal funds were distributed under programs using BEA statistics in funding formulas.