Bureau of Economic Analysis

The U.S. current-account deficit narrowed by $21.6 billion, or 9.1 percent, to $217.1 billion in the third quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised second-quarter deficit was $238.7 billion. The third-quarter deficit was 3.4 percent of current-dollar gross domestic product, down from 3.8 percent in the second quarter.

Real personal consumption expenditures (PCE) by state increased in all 50 states and the District of Columbia in 2021. The percent change in real PCE across all 50 states and the District of Columbia ranged from 12.5 percent in Utah to 2.0 percent in West Virginia.

Real personal consumption expenditures (PCE) by state increased in all 50 states and the District of Columbia in 2021. The percent change in real PCE across all 50 states and the District of Columbia ranged from 12.5 percent in Utah to 2.0 percent in West Virginia.

Real gross domestic product (GDP) increased in 2,404 counties, decreased in 691 counties, and was unchanged in 17 counties in 2021. The percent change in real GDP ranged from 81.8 percent in Coke County, TX, to –34.8 percent in Chouteau County, MT.

Real gross domestic product (GDP) increased in 2,404 counties, decreased in 691 counties, and was unchanged in 17 counties in 2021. The percent change in real GDP ranged from 81.8 percent in Coke County, TX, to –34.8 percent in Chouteau County, MT.

The U.S. monthly international trade deficit increased in October 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $74.1 billion in September (revised) to $78.2 billion in October, as imports increased and exports decreased. The goods deficit increased $6.1 billion in October to $99.6 billion. The services surplus increased $2.1 billion in October to $21.4 billion.

The U.S. monthly international trade deficit increased in October 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $74.1 billion in September (revised) to $78.2 billion in October, as imports increased and exports decreased. The goods deficit increased $6.1 billion in October to $99.6 billion. The services surplus increased $2.1 billion in October to $21.4 billion.

Vipin Arora was named the new Director of the Bureau of Economic Analysis, bringing decades of economic experience to the post. His new status is effective immediately.

Before joining BEA, Dr. Arora was acting Deputy Assistant Director of the Social, Behavioral and Economic Sciences Directorate at the National Science Foundation (NSF). He also served as Deputy Director of the NSF’s National Center for Science and Engineering…

Personal income increased $155.3 billion, or 0.7 percent at a monthly rate, while consumer spending increased $147.9 billion, or 0.8 percent, in October. The increase in personal income primarily reflected increases in compensation and personal current transfer receipts. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 2.3 percent in October, compared with 2.4 percent in September.

Personal income increased $155.3 billion, or 0.7 percent at a monthly rate, while consumer spending increased $147.9 billion, or 0.8 percent, in October. The increase in personal income primarily reflected increases in compensation and personal current transfer receipts. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 2.3 percent in October, compared with 2.4 percent in September.