May 11, 2022

BEA Statistics Help Get Federal Funds to States and Local Areas

Did you know? The federal government uses BEA statistics, such as state and local personal income data, to allocate billions of dollars to state and local governments each year. In fiscal year 2021, more than $692 billion were distributed through programs using BEA statistics in their federal funding formulas.

The largest such program was Medicaid. Other programs relied on BEA’s regional data to provide federal money for child care, children’s health insurance, grants for local education, school lunches, and more. For details, see Uses of the Regional Program Estimates.

Principal Federal Economic Indicators

Gross Domestic Product
Q1 2022 (Adv)
-1.4%
Personal Income
March 2022
+0.5%
International Trade in Goods and Services
March 2022
-$109.8B
International Transactions
Q4 2021
-$217.9B

Noteworthy

The BEA Wire | BEA's Official Blog

March 2022 Trade Gap is $109.8 Billion

May 4, 2022

The U.S. monthly international trade deficit increased in March 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $89.8 billion in February (revised) to $109.8 billion in March, as imports increased more than exports. The previously published February deficit was $89.2 billion. The goods deficit increased $20.4 billion in March to $128.1 billion. The services surplus increased $0.4…

Personal Income and Outlays, March 2022

April 29, 2022

Personal income increased $107.2 billion, or 0.5 percent at a monthly rate, while consumer spending increased $185.0 billion, or 1.1 percent, in March. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 6.2 percent in March, compared with 6.8 percent in February.

Gross Domestic Product, First Quarter 2022

April 28, 2022

Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. For more details, including source data, see the Technical Note and Federal Recovery Programs and BEA Statistics.

February 2022 Trade Gap is $89.2 Billion

April 5, 2022

The U.S. monthly international trade deficit decreased in February 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased less than $0.1 billion from January (revised) to $89.2 billion in February, as exports increased slightly more than imports. The previously published January deficit was $89.7 billion. The goods deficit decreased $1.1 billion in February to $107.5 billion. The services…

Gross Domestic Product by State, 4th Quarter 2021

March 31, 2022

Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the fourth quarter of 2021, as real GDP for the nation increased at an annual rate of 6.9 percent. The percent change in real GDP in the fourth quarter ranged from 10.1 percent in Texas to –2.3 percent in Iowa.

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