The BEA Wire | BEA's Official Blog
Durable-Goods Manufacturing Led Growth in 2012
Durable-goods manufacturing, finance and insurance, and wholesale trade services were the leading contributors to U.S. economic growth in 2012, according to advance statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.
February 2013 Trade Gap is $43.0 Billion
The U.S. monthly international trade deficit decreased in February 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.5 billion (revised) in January to $43.0 billion in February as exports increased more than imports. The previously published January deficit was $44.4 billion. The goods deficit decreased $1.5 billion from January to $60.2 billion in February; the services surplus…
Personal Income Increases in February
Personal income increased 1.1 percent in February after decreasing 3.7 percent in January. The January decrease reflected accelerated bonus payments and dividend distributions in December in anticipation of income tax changes.
GDP Growth Slows in Fourth Quarter
Real gross domestic product (GDP) increased 0.4 percent in the fourth quarter of 2013 after increasing 3.1 percent in the third quarter, according to estimates released today by the Bureau of Economic Analysis. The fourth-quarter growth rate was revised up 0.3 percentage point from the second estimate, which was released in February. Final sales, a measure that excludes changes in the volatile inventory component of GDP, increased 1.9…
State Personal Income: Fourth Quarter 2012
In the fourth quarter of 2012, average state personal income growth accelerated to 1.9 percent from 0.6 percent in the third quarter, the fastest pace since the first quarter of 2011. Fourth-quarter growth ranged from 1.3 percent in West Virginia to 4.8 percent in South Dakota. The inflation rate was 0.4 percent in the fourth quarter of 2012, the same as in the third quarter.
For more on state personal income, see the full report…
Fourth Quarter 2012 U.S. Net International Investment Position
The U.S. net international investment position was –$4,416.2 billion (preliminary) at the end of the fourth quarter of 2012 compared with –$4,663.4 billion at the end of the third quarter as the value of foreign investments in the United States exceeded the value of U.S. investments abroad.
BEA to Release Quarterly Global Investment Reports
A more up-to-date picture of the value of what the United States owns abroad compared to what foreign investors own in this country will debut March 26 when the Bureau of Economic Analysis (BEA) releases its first quarterly estimates of the U.S. international investment position. That release will feature statistics for the end of 2012 as well as quarterly data back to the fourth quarter of 2005.
Travel and Tourism Spending Accelerated in 4th Quarter 2012
Real Tourism Spending. Real spending on “traveler accommodations” accelerated, increasing 9.4 percent in the fourth quarter of 2012 after increasing 5.3 percent in the third quarter. Real spending on “food services and drinking places” also accelerated, increasing 8.6 percent in the fourth quarter after increasing 0.6 percent in the third quarter.
U.S. Current-Account Deficit Increases in 2012
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $475.0 billion (preliminary) in 2012 from $465.9 billion in 2011. As a percentage of U.S. gross domestic product, the deficit decreased to 3.0 percent in 2012 from 3.1 percent in 2011.
U.S. Current-Account Deficit Decreases in Fourth Quarter 2012
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $110.4 billion (preliminary) in the fourth quarter of 2012 from $112.4 billion (revised) in the third quarter of 2012. As a percentage of U.S. gross domestic product, the deficit remained at 2.8 percent. The previously published current-account deficit for the third quarter was $107.5 billion.
January 2013 Trade Gap is $44.4 Billion
The U.S. monthly international trade deficit increased in January 2013, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $38.1 billion (revised) in December to $44.4 billion in January, as imports increased and exports decreased. The previously published December deficit was $38.5 billion. The goods deficit increased $5.7 billion from December to $61.8 billion in January, and the…
Real Disposable Personal Income Falls in January
Personal income decreased 3.6 percent in January after increasing 2.6 percent in December, reflecting accelerated bonus payments and dividend distributions in December in anticipation of income tax rate changes.