June 20, 2012 | News Release
Real spending on travel and tourism increased at an annual rate of 3.4 percent in the first quarter of 2012 after increasing 4.4 percent (revised) in the fourth quarter of 2011. By comparison, growth in real gross domestic product (GDP) increased 1.9 percent (second estimate) in the first quarter after increasing 3.0 percent in the fourth quarter. The increase in real spending on tourism primarily reflected increases in traveler…
June 14, 2012 | The BEA Wire
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $137.3 billion (preliminary) in the first quarter of 2012 from $118.7 billion (revised) in the fourth quarter of 2011. As a percentage of U.S. gross domestic product, the deficit increased to 3.6 percent from 3.1 percent. The previously published current-account deficit for the fourth quarter was $…
June 14, 2012 | News Release
NOTE: See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.
Sarah P. Scott:
(202) 606-9286
(Data)
Paul W. Farello:
(202) 606-9561
(Revisions)
June 11, 2012 | The BEA Wire
The Nobel Prize winner Simon Kuznets presented an original set of estimates to Congress in 1934 that contained a number of caveats about what was omitted from the calculation of national income (and later from the calculation of gross domestic product) that made it an imperfect measure of welfare.
June 8, 2012 | The BEA Wire
The U.S. monthly international trade deficit decreased in April 2012, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $52.6 billion (revised) in March to $50.1 billion in April, as imports decreased more than exports. The previously published March deficit was $51.8 billion. The goods deficit decreased $2.7 billion from March to $64.8 billion in April, and the services surplus decreased…
June 5, 2012 | The BEA Wire
Real GDP increased in 43 states and the District of Columbia in 2011. Leading industry contributors were durable-goods manufacturing; professional, scientific, and technical services; and information services.
Durable-goods manufacturing was the leading contributor to real GDP growth in 26 states, contributing 3.94 percentage points to growth in Oregon and 1.17 percentage points to growth in Michigan.
June 5, 2012 | News Release
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June 1, 2012 | The BEA Wire
Personal income increased 0.2 percent in April after increasing 0.4 percent in March.
Current-dollar disposable personal income (DPI)—after-tax income—increased 0.2 percent in April after increasing 0.4 percent in March.
Real DPI—income adjusted for taxes and inflation—increased 0.2 percent in April, the same increase as in March.
Real consumer spending—spending adjusted for price changes—rose 0.3 percent in April…
June 1, 2012 | News Release
Personal income increased $31.7 billion, or 0.2 percent, and disposable personal income (DPI)
increased $22.0 billion, or 0.2 percent, inApril, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $31.8 billion, or 0.3 percent. In March,
personal income increased $52.2 billion, or 0.4 percent, DPI increased $45.9 billion, or 0.4 percent,
and PCE increased $25.4 billion, or 0.2 percent, based on…
