The BEA Wire | BEA's Official Blog
Coming Soon: New Statistics Will Provide More Timely Snapshot of How Industries are Performing
Want to know how much manufacturing contributed to U.S. economic growth in a given quarter? How about educational services?
For the first time, the Bureau of Economic Analysis (BEA) will soon start producing on a regular basis quarterly estimates of economic activity generated by 22 industries.
Coming Soon: Real Personal Income Statistics for States and Metropolitan Areas
The Bureau of Economic Analysis will soon release real personal income statistics using regional price indexes to adjust BEA’s personal income data for differences in the cost of living across states and metro areas. These new statistics will inform decisions by businesses and households alike – from deciding where to move for a new job or locating a new company to helping economic development offices shape regional marketing plans and…
February 2014 Trade Gap Is $42.3 Billion
The U.S. monthly international trade deficit increased in February 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $39.3 billion in January (revised) to $42.3 billion in February as exports decreased and imports increased. The previously published January deficit was $39.1 billion. The goods deficit increased $2.2 billion from January to $61.7 billion in February; the services…
Real Consumer Spending Rises in February
Personal income increased 0.3 percent in February, the same as in January. Wages and salaries, the largest component of personal income, increased 0.2 percent after increasing 0.3 percent.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in February, the same as in January.
Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in February after increasing 0.2 percent…
GDP Growth Slows In Fourth Quarter
Real gross domestic product (GDP) increased 2.6 percent in the fourth quarter of 2013, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.2 percentage point more than the “second” estimate released in February. In the third quarter, the growth rate was 4.1 percent.
Value of Both Foreign Investments in the United States and U.S. Investments Abroad Increased in Fourth Quarter 2013
The U.S. net international investment position was -$4,577.5 billion (preliminary) at the end of the fourth quarter of 2013 as the value of foreign investments in the United States exceeded the value of U.S. investments abroad. At the end of the third quarter, the net position was -$4,171.8 billion (revised).
Value of Both Foreign Investments in the United States and U.S. Investments Abroad Increased in 2013
The U.S. net international investment position was -$4,577.5 billion (preliminary) at the end of 2013 as the value of foreign investments in the United States exceeded the value of U.S. investments abroad. At the end of 2012, the net position was -$3,863.9 billion.
The $713.6 billion decrease in the net position from the end of 2012 to the end of 2013 reflected a $1,039.8 billion increase in the value of foreign-owned assets in the…
State Personal Income: Fourth Quarter 2013
State personal income growth slowed to 0.6 percent in the fourth quarter of 2013, from 1.0 percent in the third quarter. Growth ranged from 1.2 percent in Texas to -0.6 percent in Iowa. The fourth-quarter personal income decline in Iowa and six other states reflected lower crop prices, which reduced the value of farm output and farm earnings. The inflation rate slowed to 0.3 percent in the fourth quarter from 0.5 percent in the third…
State Personal Income 2013
Average state personal income growth slowed to 2.6 percent in 2013 from 4.2 percent in 2012. State personal income growth ranged from 1.5 percent in West Virginia to 7.6 percent in North Dakota, with every state growing more slowly in 2013 than in 2012. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.1 percent in 2013 from 1.8 percent in 2012.
See the full report.
Restoration of Previously Eliminated Local Area Personal Income Statistics
The Bureau of Economic Analysis (BEA) will restore a portion of the statistical detail to its Local Area Personal Income (LAPI) program that had been eliminated due to sequestration and reduced funding levels in FY 2013.
In early May, BEA will release for 2001-2012 (1) local area employment statistics; (2) local area industry detail for compensation and earnings for 108 industries; (3) detail on farm income and expenses; (4) and…
BEA Director Steve Landefeld to Retire
Steve Landefeld, Director of the U.S. Bureau of Economic Analysis, plans to retire in early May. Dr. Landefeld took the helm in May 1995 and in his 19 years as director was instrumental in implementing major changes aimed at better measuring the dynamic U.S. and world economies.
Under Dr. Landefeld’s leadership, the non-partisan BEA:
Travel and Tourism Spending Accelerated in the Fourth Quarter of 2013
Real spending on travel and tourism accelerated in the fourth quarter of 2013, increasing at an annual rate of 4.2 percent after increasing 3.1 percent (revised) in the third quarter of 2013.