May 06, 2021

BEA Updates Tool for Economic Impact Studies

How would expanding a community college, building a new factory, or increasing government spending on roads impact your local economy? BEA has a tool that can help answer questions like these.

Principal Federal Economic Indicators

Gross Domestic Product
Q1 2021 (Adv)
+6.4%
Personal Income
March 2021
21.1%
International Trade in Goods and Services
March 2021
-$74.4B
International Transactions
Q4 2020
-$188.5B

Noteworthy

The BEA Wire | BEA's Official Blog

BEA Updates Tool for Economic Impact Studies

May 6, 2021

How would expanding a community college, building a new factory, or increasing government spending on roads impact your local economy? BEA has a tool that can help answer questions like these.

Local planners, businesspeople, and policymakers use the Regional Input-Output Modeling System to predict the potential economic impacts of a variety of projects and events, even natural disasters like hurricanes. The modeling system, known as…

March 2021 Trade Gap is $74.4 Billion

May 4, 2021

The U.S. monthly international trade deficit increased in March 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.5 billion in February (revised) to $74.4 billion in March, as imports increased more than exports. The previously published February deficit was $71.1 billion. The goods deficit increased $3.6 billion in March to $91.6 billion. The services surplus decreased $0.3…

Personal Income and Outlays, March 2021

April 30, 2021

Personal income increased $4.21 trillion, or 21.1 percent at a monthly rate, while consumer spending increased $616.0 billion, or 4.2 percent, in March. Economic impact payments established by the American Rescue Plan Act of 2021, which was enacted on March 11, 2021, were distributed. In addition to presenting estimates for March 2021, these highlights provide comparisons to February 2020, the last month before the onset of the COVID-19…

Gross Domestic Product, First Quarter 2021

April 29, 2021

Real gross domestic product increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the first quarter, government assistance payments, such as direct economic impact payments, expanded unemployment benefits, and Paycheck Protection Program loans, were distributed to households and…

New Data on the Sources of Economic Growth

April 12, 2021

BEA and the Bureau of Labor Statistics have updated and expanded their joint data set showing sources of growth or decline in industries and how those sources affect the U.S. economy overall. New detail was added about the contributions of information technology and other types of capital assets.

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