The BEA Wire | BEA's Official Blog

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The increase was revised up 0.1 percentage point from the “advance” estimate released in October.

In 2020, personal income increased in 3,040 counties, decreased in 69, and was unchanged in 3. Personal income increased 6.4 percent in the metropolitan portion of the United States and increased 7.6 percent in the nonmetropolitan portion.

Worldwide employment by U.S. multinational enterprises (MNEs) increased 2.4 percent to 43.9 million workers in 2019 from 42.9 million workers in 2018.

Three new members are joining the BEA Advisory Committee: Nela Richardson of Automatic Data Processing Inc. (ADP); Louise Sheiner, Brookings Institution; and Heather Stephens, West Virginia University.

The new U.S. data show that the outdoor recreation economy accounted for 1.8 percent ($374.3 billion) of current-dollar gross domestic product for the nation in 2020.

The U.S. monthly international trade deficit increased in September 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $72.8 billion in August (revised) to $80.9 billion in September, as imports increased and exports decreased.

Personal income decreased$216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased$93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs.

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending.

State personal consumption expenditures (PCE) decreased 2.6 percent in 2020 after increasing 3.7 percent in 2019. The percent change in PCE across all 50 states and the District of Columbia ranged from 1.2 percent in Idaho and Utah to –5.8 percent in the District of Columbia.

The U.S. monthly international trade deficit increased in August 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.3 billion in July (revised) to $73.3 billion in August, as imports increased more than exports.

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021, as real GDP for the nation increased at an annual rate of 6.7 percent.

Personal income increased $35.5 billion, or 0.2 percent at a monthly rate, while consumer spending increased $130.5 billion, or 0.8 percent, in August.