Bureau of Economic Analysis

Roughly every 5 years, the Bureau of Economic Analysis (BEA) releases comprehensive revisions of its major economic accounts. These revisions are generally more detailed than annual revisions, implementing changes in methods, statistics and definitions to better reflect an ever-evolving economy. In December, BEA will release the 2013 comprehensive revision of the Industry Economic Accounts (IEAs), which includes two main sets of statistics,…

Expenditures for research and development (R&D) and for entertainment, literary, and artistic originals provide long-lasting service to the businesses, nonprofit institutions, and government agencies that use them. These expenditures have many characteristics of other fixed assets—ownership rights can be established, and they are long lasting and used repeatedly in production processes. As part of its 14th comprehensive revision of the…

Employers provide employees with retirement benefits largely through two mechanisms: defined contribution plans like 401(k)s or defined benefit pension plans. Under defined benefit plans, employees accrue benefits based on factors such as the employee’s length of service and salary history. Employers provide these promised benefits to employees through a pension fund. Employers, and in some cases employees, make cash contributions to the…

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $106.1 billion (preliminary) in the first quarter of 2013 from $102.3 billion (revised) in the fourth quarter of 2012. As a percentage of U.S. gross domestic product, the deficit increased to 2.7 percent from 2.6 percent. The previously published current-account deficit for the fourth quarter was $…

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Today, the U.S. Bureau of Economic Analysis released experimental real, or inflation-adjusted, estimates of personal income for states and metropolitan areas. The inflation adjustments are based in part on regional price parities (RPPs), which provide a measure of differences in price levels across each state and region relative to the national price level for each of the years 2007–2011.

Today, the U.S. Bureau of Economic Analysis released experimental real, or inflation-adjusted, estimates of personal income for states and metropolitan areas. The inflation-adjustments are based in part on regional price parities (RPPs) that provide a measure of differences in price levels across each state and region relative to the national price level for each of the years, 2007-2011.

Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2012. Leading industry contributors were durable-goods manufacturing, finance and insurance, and wholesale trade. Durable-goods manufacturing was the largest contributor to U.S. real GDP by state growth in 2012.

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The U.S. monthly international trade deficit increased in April 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $37.1 billion (revised) in March to $40.3 billion in April as imports increased more than exports. The previously published March deficit was $38.8 billion. The goods deficit increased $3.2 billion from March to $58.6 billion in April; the services surplus increased $0.1…