The BEA Wire | BEA's Official Blog
Local Area Personal Income: Metropolitan Areas, 2001–2012
Personal income growth slowed in 2012 in most of the nation’s 381 metropolitan statistical areas (MSAs). Personal income growth slowed in 311 MSAs, accelerated in 65 MSAs, and remained unchanged in 5 MSAs. On average, MSA personal income rose 4.2 percent in 2012, after growing 6.0 percent in 2011. Personal income growth ranged from 12.1 percent in Midland, TX, to –1.6 percent in Yuma, AZ, one of only five MSAs where personal income declined…
September 2013 Trade Gap is $41.8 Billion
The U.S. monthly international trade deficit increased in September 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $38.7 billion in August (revised) to $41.8 billion in September as exports decreased and imports increased. The previously published August deficit was $38.8 billion. The goods deficit increased $3.0 billion from August to $61.3 billion in September; the services…
Personal Income Increases in September
Personal income rose 0.5 percent in September, the same as in August. Wages and salaries, the largest component of personal income, rose 0.4 percent after rising 0.5 percent. Farm proprietors’ income was boosted in September, reflecting the settlement of a class-action discrimination lawsuit against the U. S. Department of Agriculture.
Current-dollar disposable personal income (DPI), after-tax income, rose 0.5…
GDP Growth Picks Up in Third Quarter
Real gross domestic product (GDP) increased 2.8 percent in the third quarter of 2013, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, the growth rate was 2.5 percent.
GDP growth The third-quarter growth reflected the following:
State Personal Income: Second Quarter 2013
State personal incomes grew 1.0 percent on average in the second quarter of 2013 after falling 1.3 percent in the first quarter. Personal income growth ranged from 1.5 percent in Florida and Arizona to –0.7 percent in Nebraska. The national price index for personal consumption expenditures was unchanged in the second quarter after rising 0.3 percent in the first quarter.
For more information on state personal income, see the…
Personal Income Increases in August
Personal income increased 0.4 percent in August after increasing 0.2 percent in July. Wages and salaries, the largest component of personal income, increased 0.4 percent in August after decreasing 0.3 percent in July. Government wages were reduced in August and in July due to furloughs.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in August after increasing 0.3 percent in July…
GDP Growth Accelerates in Second Quarter
Real gross domestic product (GDP) increased 2.5 percent in the second quarter of 2013 after increasing 1.1 percent in the first quarter, according to the “third” estimate released by the Bureau of Economic Analysis (BEA). The second-quarter growth rate was the same as the “second” estimate released in August.
GDP growth highlights The second-quarter acceleration reflected upturns in business investment, mainly in power and…
Value of Foreign Investments in the United States and U.S. Investments Abroad Decreased in Second Quarter 2013
The U.S. net international investment position was –$4,504.1 billion (preliminary) at the end of the second quarter of 2013 compared with –$4,236.6 billion (revised) at the end of the first quarter, as the value of foreign investments in the United States exceeded the value of U.S. investments abroad.
Travel and Tourism Spending Decelerated in the Second Quarter of 2013
Real spending on travel and tourism decelerated in the second quarter of 2013, increasing at an annual rate of 2.5 percent after increasing 7.3 percent revised) in the first quarter of 2013.
A New Look at State-Level R&D by Multinational Companies
The amount of research and development (R&D) generated by multinational companies varies widely across U.S. states.
A new examination of data shows that the R&D performed by foreign-owned U.S. affiliates in 2007 ranged from $1 million in South Dakota to $5.3 billion in California. In addition to California, the R&D of U.S. affiliates was higher than $2.5 billion in three other states: New Jersey, Pennsylvania, and…
U.S. Current-Account Deficit Decreases in Second 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 $98.9 billion (preliminary) in the second quarter of 2013 from $104.9 billion (revised) in the first quarter of 2013.
Economic Growth Widespread Across Metropolitan Areas in 2012
Metropolitan areas accounted for nearly 91 percent of national current-dollar gross domestic product (GDP). The ten largest metropolitan areas accounted for 34 percent of national GDP in 2012, while the smallest 79 metropolitan areas accounted for less than 2 percent of national GDP. Real GDP grew in 305 metropolitan areas. Durable-goods manufacturing, trade, and financial activities led growth in 2012.