The BEA Wire | BEA's Official Blog

Personal income increased $78.9 billion, or 0.4 percent at a monthly rate, while consumer spending increased $113.0 billion, or 0.6 percent, in September. The increase in personal income primarily reflected increases in compensation and personal income receipts on assets.

Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter.

State personal consumption expenditures (PCE) increased 12.7 percent in 2021 after decreasing 1.9 percent in 2020. The percent change in PCE across all 50 states and the District of Columbia ranged from 16.3 percent in Utah to 9.4 percent in New York.

The U.S. monthly international trade deficit decreased in August 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $70.5 billion in July (revised) to $67.4 billion in August, as imports decreased more than exports.

Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022, with the percent change in real GDP ranging from 1.8 percent in Texas to –4.8 percent in Wyoming.

Personal income increased $71.6 billion, or 0.3 percent at a monthly rate, while consumer spending increased $67.5 billion, or 0.4 percent, in August. The increase in personal income primarily reflected increases in compensation and proprietors’ income.

Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The second-quarter decrease was the same as previously estimated in the “second” estimate released in August.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.31 trillion at the end of the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $31.5 billion, or 11.1 percent, to $251.1 billion in the second quarter of 2022.

At the end of September, BEA will update five years of U.S. gross domestic product and related statistics, as well as GDP statistics for industries and for each state.

The U.S. monthly international trade deficit decreased in July 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $80.9 billion in June (revised) to $70.6 billion in July, as exports increased and imports decreased.

Real gross domestic product for American Samoa decreased 1.7 percent in 2021 after increasing 5.0 percent in 2020, according to the U.S. Bureau of Economic Analysis. These statistics were developed under the Statistical Improvement Program, funded by the Office of Insular Affairs of the U.S.