March 16, 2023
BEA today updated and expanded prototype statistics that look more deeply into U.S. exports, revealing the mix of foreign and domestic content used to make exported goods and services.
For example, a tire manufactured in Ohio and sold in Canada might be made with rubber from China and steel belting from Mexico. Traditional trade statistics can’t separate the foreign inputs, like the tire’s rubber and steel, from the overall value of U…
March 15, 2023
Arts and cultural economic activity, adjusted for inflation, increased 13.7 percent in 2021 after decreasing 4.8 percent in 2020, according to statistics released today by the Bureau of Economic Analysis. By comparison, the broader economy, as measured by real gross domestic product, increased 5.9 percent in 2021 after decreasing 2.8 percent in 2020.
Arts and cultural economic activity accounted for 4.4 percent of U.S. GDP, or $1.02…
March 8, 2023
The U.S. international trade deficit increased from $845.0 billion in 2021 to $945.3 billion in 2022 (revised), as imports increased more than exports. The goods deficit increased $100.7 billion to $1.19 trillion, and the services surplus increased $0.5 billion to $245.7 billion. The goods and services deficit was 3.7 percent of current-dollar gross domestic product in 2022, up from 3.6 percent in 2021.
March 8, 2023
The U.S. international trade deficit increased from $67.2 billion in December (revised) to $68.3 billion in January, as imports increased more than exports. The goods deficit decreased $0.6 billion to $90.1 billion, and the services surplus decreased $1.7 billion to $21.8 billion.
February 24, 2023
Personal income increased $131.1 billion, or 0.6 percent at a monthly rate, while consumer spending increased $312.5 billion, or 1.8 percent, in January. The increase in personal income primarily reflected an increase in compensation. Government social benefits decreased in January, reflecting a decrease in “other” benefits that was partly offset by an increase in Social Security. The personal saving rate (that is, personal saving as a…
