The BEA Wire | BEA's Official Blog
Value of Both Foreign Investments in the United States and U.S. Investments Abroad Increased in Third Quarter 2013
The U.S. net international investment position was –$4,165.6 billion (preliminary) at the end of the third 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 second quarter, the net position was –$4,455.0 billion (revised).
Consumer Spending Rises in November
Personal income increased 0.2 percent in November after decreasing 0.1 percent in October. Wages and salaries, the largest component of personal income, rose 0.4 percent after rising 0.1 percent.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.1 percent in November after decreasing 0.2 percent in October.
Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in November…
GDP Growth Accelerates in Third Quarter
Real gross domestic product (GDP) increased 4.1 percent in the third quarter of 2013, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.5 percentage point more than the “second” estimate released earlier this month. In the second quarter, the growth rate was 2.5 percent.
GDP highlights Inventory investment accelerated in the third quarter, accounting for about 40 percent of real GDP…
State Personal Income: Third Quarter 2013
State personal income growth slowed slightly to 1.1 percent in the third quarter of 2013, from 1.2 percent in the second quarter. Growth slowed in 25 states, accelerated in 22, and was unchanged in 3 states and the District of Columbia. Growth across states ranged from 0.4 percent in New Mexico to 1.9 percent in Mississippi. The national price index for personal consumption expenditures increased 0.5 percent in the third quarter after…
Travel and Tourism Spending Decelerated in the Third Quarter of 2013
Real spending on travel and tourism decelerated in the third quarter of 2013, increasing at an annual rate of 2.5 percent after increasing 3.5 percent (revised) in the second quarter of 2013.
Real Tourism Spending. Real spending on “passenger air transportation” continued to decelerate, increasing 6.2 percent in the third quarter after increasing 14.8 percent in the second quarter. Real spending on “food services and…
U.S. Current-Account Deficit Decreases in Third Quarter 2013
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $94.8 billion (preliminary) in the third quarter of 2013 from $96.6 billion (revised) in the second quarter of 2013. As a percentage of U.S. gross domestic product, the deficit decreased to 2.2 percent from 2.3 percent. The previously published current-account deficit for the second quarter was $98.9…
Real Consumer Spending Rose in October
Personal income decreased 0.1 percent in October after increasing 0.5 percent in September. Wages and salaries, the largest component of personal income, rose 0.1 percent after rising 0.4 percent. Proprietors’ income fell 1.4 percent in October due to a decline in farm proprietors’ income after farmers received a one-time payment in September for a settlement of a lawsuit against the Department of Agriculture.
GDP Growth Picks up in Third Quarter
Real gross domestic product (GDP) increased 3.6 percent in the third quarter of 2013, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.8 percentage point more than the “advance” estimate released the previous month. In the second quarter, the growth rate was 2.5 percent.
October 2013 Trade Gap is $40.6 Billion
The U.S. monthly international trade deficit decreased in October 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $43.0 billion in September (revised) to $40.6 billion in October as exports increased more than imports. The previously published September deficit was $41.8 billion. The goods deficit decreased $2.2 billion from September to $60.2 billion in October; the services…
Guam's Economy Grows 0.5 Percent in 2012
Newly published estimates for Guam show that real gross domestic product (GDP)—GDP adjusted to remove price changes—increased 0.5 percent in 2012, after decreasing 0.6 percent in 2011.
For comparison, real GDP for the United States (excluding the territories) increased 2.8 percent in 2012 and 1.8 percent in 2011.
In 2012, the increase in real GDP reflected an improvement in the trade balance. Exports of services—primarily…
Northern Mariana Islands' Economy Grows in 2012, Shrinks in 2011
Newly published estimates for the Commonwealth of the Northern Mariana Islands show that real Gross Domestic Product, GDP adjusted to remove price changes, increased 5.2 percent in 2012 after decreasing 6.8 percent in 2011.
For comparison, real GDP for the United States (excluding the territories) increased 2.8 percent in 2012 and 1.8 percent in 2011.
Some Local Economic Statistics Eliminated Due to 2013 Budget Sequester
You probably noticed that today’s release of the Bureau of Economic Analysis’ (BEA) local area personal income statistics is missing some detail that’s normally included. Why?