> U.S. Economy at a Glance: Perspective from the BEA Accounts
U.S. Economy at a Glance: Perspective from the BEA Accounts
BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on this page are drawn from featured BEA economic accounts.
National Economic Accounts:
Gross Domestic Product (GDP)
- 2nd quarter 2014: 4.2 percent
- 1st quarter 2014: -2.1 percent
September 26, 2014
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 4.2 percent in the second quarter of 2014, according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent.
- July 2014: 0.2 percent (personal income)
- June 2014: 0.5 percent (personal income)
September 29, 2014
In July 2014, real disposable personal income increased 0.1 percent.
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Industry Economic Accounts:
Quarterly Industry Accounts: GDP by Industry
Real gross domestic product (GDP) decreased at an annual rate of 2.9 percent in the first quarter of 2014 after increasing 2.6 percent in the fourth quarter of 2013. Both private services- and goods-producing industries contributed to the decrease, while the government sector increased slightly. Durable-goods manufacturing; wholesale trade; and agriculture, forestry, fishing, and hunting were the leading contributors to the decrease in GDP. Overall, 16 of 22 industry groups contributed to the 2.9 percent decrease in U.S. economic activity.
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International Economic Accounts:
U.S. Balance of Payments (International Transactions)
Current Account Balance:
- 2nd quarter 2014: -$98.5 billion
- 1st quarter 2014: -$102.1 billion
December 17, 2014
The U.S. current-account deficit decreased $3.6 billion to $98.5 billion (preliminary) in the second quarter of 2014.
International Investment Position
Net International Investment Position at End of Period:
- End of 1st quarter 2014: -$5,539.3 billion
- End of 4th quarter 2013: -$5,383.0 billion
- End of Year 2013: -$5,383.0 billion
- End of Year 2012: -$4,578.2 billion
September 25, 2014
Quarterly and annual data:
The U.S. net international investment position at the end of the first quarter of 2014 was -$5,539.3 billion (preliminary), as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the fourth quarter of 2013, the net position was -$5,383.0 billion (revised).
International Trade in Goods and Services
- July 2014: -$40.5 billion
- June 2014: -$40.8 billion
October 3, 2014
Total July exports of $198.0 billion and imports of $238.6 billion resulted in a goods and services deficit of $40.5 billion.
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Regional Economic Accounts:
Gross Domestic Product (GDP) by State
Real gross domestic product (GDP) increased in 49 states in 2013, according to new statistics released today by the Bureau of Economic Analysis (BEA). Nondurable-goods manufacturing; real estate and rental and leasing; and agriculture, forestry, fishing, and hunting were the leading contributors to real U.S. economic growth. U.S. real GDP growth slowed to 1.8 percent in 2013 after a 2.5 percent increase in 2012.
Gross Domestic Product (GDP) by Metropolitan Area
Real GDP increased in 292 of the nation's 381 metropolitan areas in 2013, led by widespread growth in finance, insurance, real estate, rental, and leasing, nondurable-goods manufacturing, and professional and business services, according to new statistics released today by the U.S. Bureau of Economic Analysis. Natural resources and mining also spurred strong growth in several metropolitan areas. Collectively, real GDP for U.S. metropolitan areas increased 1.7 percent in 2013 after increasing 2.6 percent in 2012.
State Personal Income (SPI)
September 30, 2014
State personal income increased 0.8 percent on average in the first quarter of 2014, an acceleration from the 0.5 percent growth in the fourth quarter of 2013. Personal income grew in 46 states and growth accelerated in 24 of those states. The fastest growth, 1.4 percent, was in Washington state, Vermont, and West Virginia. Personal income fell 2.9 percent in North Dakota, 0.3 percent in South Dakota, and 0.2 percent in Arkansas and Nebraska.
Annual data: Average state personal income growth slowed to 2.6 percent in 2013 from 4.2 percent in 2012.
Local Area Personal Income
November 20, 2014
Metropolitan area data:
Personal income growth slowed in 2012 in most of the nation's 381 metropolitan statistical areas (MSAs). Personal income growth ranged from 12.1 percent in Midland, Texas to -1.6 percent in Yuma, Arizona.
Real Personal Income for State and Metropolitan Areas
State and Metropolitan area data:
Real personal income across all regions rose by an average of 2.3% in 2012. Growth in real state personal income ranged from a decline of 1.2% in South Dakota to an increase of 15.1% in North Dakota. Growth in real metropolitan area personal income ranged from a decline of 3.8% in Kennewick-Richland, WA to an increase of 10.2% in Odessa, TX.
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