Home > Overview of the U.S. Economy: Perspective from the BEA Accounts

Overview of the U.S. Economy: 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)
Current Numbers:
    • 1st quarter 2008: +0.6 percent
    • 4th quarter 2007: +0.6 percent
Next release: May 29, 2008
Quarterly data: 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 0.6 percent in the first quarter of 2008, according to advance estimates released by the Bureau of Economic Analysis.

Personal Income
Current Numbers:
  • March 2008: +0.3 percent (personal income)
  • February 2008: +0.5 percent (personal income)
Next release: May 30, 2008
Monthly data: In March 2008, real disposable personal income was unchanged.

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Industry Economic Accounts:

Annual Industry Accounts: GDP by Industry
Annual Data: A downturn in the finance and insurance industry group accounted for nearly half of the slowdown in economic growth in 2007, according to preliminary statistics on industry contributions to real gross domestic product (GDP) growth.
Annual Growth in Real GDP
Graph of Annual Percent Changes in Real Value Added
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Annual Percent Changes in Value-Added Price Indexes
Graph of Annual Percent Changes in Chain-type Price Indexes for Value Added
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International Economic Accounts:

U.S. Balance of Payments (International Transactions)
Current Account Balance:
  • 4th quarter 2007: -$172.9 billion
  • 3rd quarter 2007: -$177.4 billion
  • Annual 2007: -$738.6 billion
  • Annual 2006: -$811.5 billion
Next release: June 17, 2008
Quarterly and Annual data:The U.S. current-account deficit decreased $4.5 billion to $172.9 billion (preliminary) in the fourth quarter of 2007. For the year 2007, the current-account deficit decreased $72.8 billion to $738.6 billion (preliminary).
Quarterly Data Graph of U.S. Current-Account Transactions
Quarterly Data
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Quarterly Data Graph of U.S. Current-Account Transactions
Annual Data
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International Investment Position
Annual data: The U.S. net international investment position at yearend 2006 was -$2,539.6 billion (preliminary), as the value of foreign investments in the United States exceeded the value of U.S. investments abroad.

International Trade in Goods and Services
Trade Balance:
  • March 2008: -$58.2 billion
  • February 2008: -$61.7 billion
Next release: June 10, 2008
Monthly data: Total March exports of $148.5 billion and imports of $206.7 billion resulted in a goods and services deficit of $58.2 billion. (Joint release with the U.S. Census Bureau)

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Regional Economic Accounts:

Gross Domestic Product (GDP) by State
Next release: June 2008
Annual data: Newly available data on the state distribution of real GDP growth confirm that economic growth was widespread in 2006, as GDP grew in all states except Michigan.

Gross Domestic Product (GDP) by Metropolitan Area
Next release: Fall 2008
Annual data: Today, the U.S. Bureau of Economic Analysis released experimental measures of economic output produced in the Nation’s metropolitan areas. In 2005, metropolitan areas produced 90 percent of U.S. GDP

State Personal Income (SPI)
Next release: June 19, 2008
Quarterly data: U.S. personal income grew 1.0 percent in the fourth quarter of 2007 keeping pace with the quarter's 1.0 percent rise in the price index for personal consumption expenditures.

State Per Capita Personal Income
Next release: September 18, 2008
Annual data: U.S. per capita income grew 5.2 percent in 2007, down from 5.6 percent in 2006, but equal to the average of the last four years (2004-07).

Metropolitan Area Personal Income
Annual data: Personal income growth accelerated in 2006 in most of the nation’s metropolitan statistical areas.

Local Area Personal Income
Annual data: The percent change from 2005 to 2006 in county personal income ranged from 648 percent in St. Bernard Parish, Louisiana to -43 percent in Slope County, North Dakota.

County Estimates of Compensation by Industry, 2004-2006
Annual data: The Bureau of Economic Analysis released county estimates of compensation by industry for 2004-2006.

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Last updated: Friday, May 9, 2008
Bureau of Economic Analysis is an agency of the U.S. Department of Commerce.
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