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The U.S. current account deficit narrowed by $8.0 billion, or 5.9 percent, to $128.2 billion in the second quarter of 2019, according to statistics from the Bureau of Economic Analysis. The revised first quarter deficit was $136.2 billion. The second quarter deficit was 2.4 percent of current dollar gross domestic product, down from 2.6 percent in the first quarter.
| Gross Domestic Product | Q2 2019 | +2.0% |
| Personal Income | July 2019 | +0.1% |
| International Trade in Goods & Services (Trade Balance) | July 2019 | -$54.0B |
| U.S. International Transactions (Current Account Balance) | Q2 2019 | -$128.2B |
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, narrowed by $8.0 billion, or 5.9 percent, to $128.2 billion in the second quarter of 2019. The narrowing mainly reflected an expanded surplus on primary income. The second quarter deficit was 2.4 percent of current dollar gross domestic product, down from 2.6 percent in…
BEA will release prototype statistics on Sept. 20 showing the role that outdoor recreation – pursuits like bicycling, RVing, and fishing – plays in each state’s economy. This will mark the first time state data are included in BEA’s outdoor recreation statistics.
An updated set of national outdoor recreation statistics will be released at the same time. Both the national and state data will cover 2012 through 2017.
BEA will conduct a webinar on Sept. 10 for those required to fill out the BE-140, a benchmark survey that collects information on insurance transactions between U.S. insurance companies and foreign persons.The one-hour webinar will start at 1 p.m. EDT and detail reporting requirements for the survey, which is due to the Bureau of Economic Analysis by Sept. 30.
The U.S. monthly international trade deficit decreased in July 2019, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $55.5 billion in June (revised) to $54.0 billion in July, as exports increased and imports decreased.
The U.S. Bureau of Economic Analysis has updated its regional economic modeling system used by local planners, investors, and policymakers. This tool can help assess the potential economic effects of a new corporate headquarters, a highway project, or new regulations.
