The BEA Wire | BEA's Official Blog
Personal Income Picks Up in June
Personal income increased 0.5 percent in June after increasing 0.3 percent in May. Wages and salaries, the largest component of personal income, increased 0.5 percent in June after increasing 0.1 percent in May.
Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in June after increasing 0.3 percent in May.
Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in June…
GDP Growth Moderates in Second Quarter
Real gross domestic product (GDP) rose 1.5 percent in the second quarter after rising 2.0 percent in the first quarter, according to the Bureau of Economic Analysis. According to the 2012 annual revision, the first-quarter growth rate was revised up 0.1 percentage point.
Real GDP second-quarter highlights
Revising Economic Indicators: Here's Why the Numbers Can Change
In late June, the Bureau of Economic Analysis (BEA) reported that the economy grew at a 1.9 percent annual rate in the first quarter of 2011. This, our third estimate for the quarter, turned out to be lower than our initial estimate of a 2.2 percent growth rate made in late April. When we revise a major economic indicator, it’s not unusual for some to ask us, “Why didn’t you get it right the first time?”
Quarterly GDP by Industry Data Improves Understanding of the Economy
In 2009, annual gross domestic product (GDP) for durable goods manufacturing showed a double-digit decline. The industry was the leading annual contributor to the bottoming out of the U.S. economy for that year. But looking at the results through a new experimental quarterly data series reveals a more nuanced and complete picture of what was happening in durable goods manufacturing. It shows that the decline in 2009 largely…
If You Respond to BEA's International Surveys, Please Read This!
New changes in the method of informing businesses about requirements for submitting Bureau of Economic Analysis (BEA) surveys will increase the efficiency of the process and reduce paperwork for both survey respondents and BEA. The new procedures involve the collection of data through BEA’s surveys of direct investment and international trade in services.
May Trade Gap is $48.7 Billion
The U.S. monthly international trade deficit decreased in May, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $50.6 billion (revised) in April to $48.7 billion in May, as imports decreased and exports increased. The previously published April deficit was $50.1 billion. The goods deficit decreased $1.6 billion from April to $63.5 billion in May, and the services surplus increased $0.3…
What is the U.S. Current Account?
The U.S. current account is the broadest measure of trade and income flows between the United States and the rest of the world. Together with the capital and financial account, it is a component of the international transactions accounts compiled by the Bureau of Economic Analysis.
Real Disposable Personal Income Picks Up
Personal income increased 0.2 percent in May, the same increase as in April. The increase in wages and salaries was less than 0.1 percent in May, compared with an increase of 0.1 percent in April.
Current-dollar disposable personal income (DPI)—after-tax income—increased 0.2 percent in May, the same increase as in April.
Real DPI— income adjusted for taxes and inflation—increased 0.3 percent in May after increasing 0.1 percent…
GDP Growth Slows in First Quarter
Real gross domestic product (GDP) rose 1.9 percent in the first quarter of 2012 after rising 3.0 percent in the fourth quarter, according to estimates released by the Bureau of Economic Analysis. The first-quarter growth rate was unchanged from the second estimate released in May.
Personal Income in States Grows
State personal income growth accelerated to 0.8 percent in the first quarter of 2012, from 0.4 percent in the fourth quarter of 2011. Personal income rose in 47 of the 50 states, fell in Kansas and Mississippi, and was unchanged in Oklahoma. The percent change across states ranged from 2.3 percent in North Dakota to –0.3 percent in Mississippi. Inflation, as measured by the national price index for personal consumption expenditures, increased…
Value of Foreign Investment in the U.S. Increased More than Value of U.S. Investment Abroad in 2011
The U.S. net international investment position at yearend 2011 was –$4,030.3 billion (preliminary), as the value of foreign investment in the United States exceeded the value of U.S. investment abroad. At yearend 2010, the U.S. net international investment position was –$2,473.6 billion (revised).
Increases in the prices of U.S. Treasury bonds and declines in foreign stock prices raised the value of foreign investment in the…
New Global Guidelines Offer 'How To' for More Consistent and Reliable Data
Globalization, the financial crisis, the Great Recession, and Europe’s fiscal problems underscore just how important it is for countries to produce timely, accurate, and consistent data. Information on real gross domestic product, inflation, balance sheets, and international trade are essential to assessing cross-country effects and coordinating effective monetary, fiscal, regulatory, and trade policies.