The BEA Wire | BEA's Official Blog
New Study Provides Profile of U.S. Firms that Export and Import Services
Data from the Bureau of Economic Analysis (BEA) show that the United States has historically maintained a trade surplus in private services. So what types of firms are involved in this kind of trade abroad? Thanks to a new BEA study we have a better understanding of the kinds of American companies that export and import services.
Here are some of the key findings:
Travel and Tourism Spending Increases
Inflation-adjusted spending on travel and tourism increased at an annual rate of 3.4 percent in the first three months of this year, the Bureau of Economic Analysis (BEA) reports. It had increased at a rate of 4.4 percent in the fourth quarter of 2011. The slightly slower pace in the first quarter mostly reflected less spending on air travel and on lodging.
Still, travel and tourism spending has grown faster than the U.S.…
Current-Account Deficit Increases in First Quarter
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $137.3 billion (preliminary) in the first quarter of 2012 from $118.7 billion (revised) in the fourth quarter of 2011. As a percentage of U.S. gross domestic product, the deficit increased to 3.6 percent from 3.1 percent. The previously published current-account deficit for the fourth quarter was $…
What is the Value of Household Work?
The Nobel Prize winner Simon Kuznets presented an original set of estimates to Congress in 1934 that contained a number of caveats about what was omitted from the calculation of national income (and later from the calculation of gross domestic product) that made it an imperfect measure of welfare.
April Trade Gap is $50.1 Billion
The U.S. monthly international trade deficit decreased in April 2012, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $52.6 billion (revised) in March to $50.1 billion in April, as imports decreased more than exports. The previously published March deficit was $51.8 billion. The goods deficit decreased $2.7 billion from March to $64.8 billion in April, and the services surplus decreased…
Widespread State Economic Growth in 2011
Real GDP increased in 43 states and the District of Columbia in 2011. Leading industry contributors were durable-goods manufacturing; professional, scientific, and technical services; and information services.
Durable-goods manufacturing was the leading contributor to real GDP growth in 26 states, contributing 3.94 percentage points to growth in Oregon and 1.17 percentage points to growth in Michigan.
Real Consumer Spending Picks Up in April
Personal income increased 0.2 percent in April after increasing 0.4 percent in March.
Current-dollar disposable personal income (DPI)—after-tax income—increased 0.2 percent in April after increasing 0.4 percent in March.
Real DPI—income adjusted for taxes and inflation—increased 0.2 percent in April, the same increase as in March.
Real consumer spending—spending adjusted for price changes—rose 0.3 percent in April…
GDP Growth Moderates 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 the second estimate released today by the Bureau of Economic Analysis. The first-quarter growth rate was 0.3 percentage point less than the “advance” estimate released in April.
Over the past 4 quarters, real GDP grew 2.0 percent.
First-quarter highlights An acceleration in consumer…
What is the U.S. Bureau of Economic Analysis?
The U.S. Bureau of Economic Analysis, a unit of the U.S. Department of Commerce, is the federal agency responsible for measuring the U.S. economy, or as some say, BEA is the nation’s accountant.
Tracking Foreigners' Spending in the United States
Have you ever wondered what foreigners spend their money on while visiting the United States or what Americans buy while overseas? BEA is often asked for this information, but until recently, didn’t have the means to fully respond. So, we embarked on a research project aimed at finding the answers.
Personal Income Increased 0.4 Percent in March
Personal income in the United States increased 0.4 percent in March after increasing 0.3 percent in February. Wages and salaries rose 0.3 percent in March after rising 0.4 percent in February.
Current-dollar disposable personal income (DPI)—income after taxes—increased 0.4 percent in March after increasing 0.2 percent in February.
Real DPI—income adjusted for taxes and inflation—increased 0.2 percent in March after decreasing…
GDP Growth Slows in First Quarter
Real gross domestic product (GDP) increased 2.2 percent in the first quarter of 2012 after increasing 3.0 percent in the fourth quarter of 2011, according to estimates released today by the U.S. Bureau of Economic Analysis.
First-quarter highlights The slower economic growth reflected slower growth in inventory and fixed investment by businesses: