Bureau of Economic Analysis

The U.S. goods and services trade deficit increased in April 2024 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $68.6 billion in March (revised) to $74.6 billion in April, as imports increased more than exports. The goods deficit increased $5.9 billion in April to $99.2 billion. The services surplus decreased $0.1 billion in April to $24.7 billion.

BEA will begin publishing on June 26 new quarterly detail for the U.S. international investment position (IIP), a statistical balance sheet that presents the dollar value of U.S. financial assets and liabilities with respect to other countries at the end of each quarter and year.  The IIP statistics are published in BEA news releases and interactive data tables in March, June, September, and December.

Personal income increased $65.3 billion (0.3 percent at a monthly rate) in April. Disposable personal income —personal income less personal current taxes—increased $40.2 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $42.8 billion (0.2 percent) and consumer spending increased $39.1 billion (0.2 percent). Personal saving was $744…

Personal income increased $65.3 billion (0.3 percent at a monthly rate) in April. Disposable personal income (DPI)—personal income less personal current taxes—increased $40.2 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $42.8 billion (0.2 percent) and consumer spending increased $39.1 billion (0.2 percent). Personal saving…

Real gross domestic product increased at an annual rate of 1.3 percent in the first quarter of 2024, according to the “second” estimate. In the fourth quarter of 2023, real GDP increased 3.4 percent. The GDP estimate for the first quarter was revised down 0.3 percentage point from the “advance” estimate, primarily reflecting a downward revision to consumer spending. 

Real gross domestic product (GDP) increased at an annual rate of 1.3 percent in the first quarter of 2024, according to the "second" estimate. In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending and housing investment that were partly offset by a decrease in inventory investment. Imports, which are a subtraction in the calculation of GDP,…

A blog post from BEA Director Vipin Arora

At BEA we often highlight the comprehensiveness of our statistics. I like to illustrate using the analogy of my favorite Las Vegas dessert buffet. This buffet has an endless variety of desserts: from apple strudel to upside-down cake, there is something for everyone. I would argue our statistics are comprehensive in the same way—there is something…

Research and development activity accounted for 2.3 percent of the U.S. economy in 2021, according to new experimental statistics released today by the Bureau of Economic Analysis. R&D as a share of each state’s gross domestic product, or GDP, ranged from 0.3 percent in Louisiana and Wyoming to 6.3 percent in New Mexico, home to federally funded Los Alamos National Laboratory and Sandia National Laboratories.

How many research and development jobs are in your state? Which states have the largest R&D value added? How is industry and government research money spread across the states’ GDP? BEA is developing statistics that can help answer these and other questions about the role of R&D in the economy.

The U.S. goods and services trade deficit decreased from $69.5 billion in February (revised) to $69.4 billion in March, as imports decreased more than exports. The goods deficit increased $0.8 billion to $92.5 billion, and the services surplus increased $0.9 billion to $23.1 billion.