October 03, 2024

Personal Consumption Expenditures by State, 2023

Personal consumption expenditures (PCE) increased in all 50 states and the District of Columbia in 2023. The percent change ranged from 8.1 percent in Florida to 4.7 percent in Iowa. Nationally, current-dollar PCE increased 6.4 percent in 2023 after increasing 9.8 percent in 2022.

Principal Federal Economic Indicators

Gross Domestic Product
Q2 2024 (3rd)
+3.0%
Personal Income
August
+0.2%
International Trade in Goods and Services
July 2024
-$78.8 B
International Transactions
Q2 2024
-$266.8 B

Noteworthy

The BEA Wire | BEA's Official Blog

Personal Income and Outlays, August 2024

September 27, 2024

Personal income increased $50.5 billion (0.2 percent at a monthly rate) in August. Disposable personal income —personal income less personal current taxes— increased $34.2 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $48.3 billion (0.2 percent) and consumer spending increased $47.2 billion (0.2 percent). Personal saving was $1.05 trillion and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.8 percent in August.

Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2024 and Annual Update

September 26, 2024

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the “third” estimate. In the first quarter, real GDP increased 1.6 percent (revised). The second-quarter increase in real GDP was the same as previously estimated in the “second” estimate released in August. 

U.S. International Investment Position, 2nd Quarter 2024

September 25, 2024

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$22.52 trillion at the end of the second quarter of 2024, according to statistics released today by the Bureau of Economic Analysis. Assets totaled $36.00 trillion, and liabilities were $58.52 trillion. At the end of the first quarter, the net investment position was –$21.29 trillion (revised). 

U.S. Current-Account Deficit Widens in 2nd Quarter 2024

September 19, 2024

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, widened by $25.8 billion, or 10.7 percent, to $266.8 billion in the second quarter of 2024. The widening mostly reflected an expanded deficit on goods. The second-quarter deficit was 3.7 percent of current-dollar gross domestic product, up from 3.4 percent in the first quarter. 

A Historical Look at BEA’s Price Measures

September 16, 2024

A blog from BEA Director Vipin Arora

BEA’s price index for personal consumption expenditures—the PCE price index—gets a lot of attention when it’s released every month. For good reason: the Federal Reserve and policymakers around the world rely on it as a key inflation gauge.