The BEA Wire | BEA's Official Blog

The U.S. monthly international trade deficit decreased in August 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $40.3 billion in July (revised) to $40.1 billion in August as exports increased more than imports.

State personal income growth accelerated to 1.5 percent on average in the second quarter of 2014 from 1.2 percent in the first quarter.

Personal income rose 0.3 percent in August after rising 0.2 percent in July. Wages and salaries, the largest component of personal income, rose 0.4 percent in August after rising 0.2 percent in July.

Real gross domestic product (GDP) increased 4.6 percent in the second quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. The second-quarter growth rate was revised up 0.4 percentage point from the “second” estimate released in August.

The U.S. net international investment position was -$5,445.1 billion (preliminary) at the end of the second quarter of 2014 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the first quarter, the net position was -$5,511.7 billion (revised).

Real spending on travel and tourism turned up in the second quarter of 2014, increasing at an annual rate of 2.1 percent after decreasing 1.1 percent (revised) in the first quarter of 2014.

The U.S. current-account deficit-the combined balances on trade in goods and services, income, and net unilateral current transfers – decreased to $98.5 billion (preliminary) in the second quarter of 2014 from $102.1 billion (revised) in the first quarter of 2014. As a percentage of U.S.

Statistics on what Americans and foreigners spent on travel and tourism in the United States in the second quarter of 2014 will be released Thursday, Sept. 18 by the Bureau of Economic Analysis (BEA).

Statistics on the 2013 economic performance of the nation’s 381 metropolitan areas will be released Tuesday, Sept. 16 at 8:30 a.m. EDT by the U.S. Bureau of Economic Analysis (BEA).

Estimates of gross domestic product (GDP) for American Samoa show that real GDP — adjusted to remove price changes — decreased 2.4 percent in 2013. In contrast, real GDP for the U.S. (excluding the territories) increased 2.2 percent in 2013.

Brian Moyer was named Director of the Bureau of Economic Analysis, bringing more than 20 years of experience in economic statistics to the post. His new status as Director takes effect Sept. 21.