Personal income increased $50.4 billion (0.2 percent at a monthly rate) in June. Disposable personal income (DPI)—personal income less personal current taxes—increased $37.7 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $59.3 billion (0.3 percent) and consumer spending increased $57.6 billion (0.3 percent). Personal saving was $703.0 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.4 percent in June.
Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the second quarter of 2024, according to the “advance” estimate. In the first quarter, real GDP increased 1.4 percent. The increase in the second quarter primarily reflected increases in consumer spending, inventory investment, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.
The U.S. direct investment abroad position, or cumulative level of investment, increased $364.0 billion to $6.68 trillion at the end of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. The increase reflected a $147.1 billion increase in the position in Europe (chart 1), primarily in Ireland, Switzerland, and the Netherlands. By industry, holding company affiliates had the largest increase.
BEA's economic modeling tool that helps users analyze how a proposed project would ripple through a region's economy is now updated with new benchmark data.
A blog from BEA Director Vipin Arora
BEA’s supply-use tables may be the unsung hero of economic accounting.
For many, that description immediately brings to mind images of some well-known superhero sidekicks. Yet when I take a step back and think about the impact of supply-use tables, I am reminded of something else entirely: shipping containers.
