Bureau of Economic Analysis

The U.S. current-account deficit decreased to $100.6 billion (preliminary) in the third quarter of 2017 from $124.4 billion (revised) in the second quarter of 2017. As a percentage of U.S. GDP, the deficit decreased to 2.1 percent from 2.6 percent. The previously published current-account deficit for the second quarter was $123.1 billion.

The U.S. current-account deficit decreased to $100.6 billion (preliminary) in the third quarter of 2017 from $124.4 billion (revised) in the second quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit decreased to 2.1 percent of current- dollar gross domestic product (GDP) from 2.6 percent in the second quarter.

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Real spending (output) on travel and tourism accelerated in the third quarter of 2017, growing at an annual rate of 6.6 percent after increasing 6.0 percent (revised) in the second quarter, according to new statistics released by the Bureau of Economic Analysis.

Real spending (output) on travel and tourism accelerated in the third quarter of 2017, growing at an annual rate of 6.6 percent after increasing 6.0 percent (revised) in the second quarter, according to new statistics released by the Bureau of Economic Analysis. Real gross domestic product (GDP) for the nation also accelerated, increasing 3.3 percent in the third quarter (second estimate) after increasing 3.1 percent in the second quarter of…

The U.S. monthly international trade deficit increased in October 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $44.9 billion in September (revised) to $48.7 billion in October, as exports decreased and imports increased. The previously published September deficit was $43.5 billion. The goods deficit increased $3.8 billion in October to $69.1 billion. The services surplus…

Total October exports of $195.9 billion and imports of $244.6 billion resulted in a goods and services deficit of $48.7 billion.

Today, the Bureau of Economic Analysis is releasing estimates of gross domestic product for the U.S. Virgin Islands for 2016, in addition to estimates of GDP by industry and compensation by industry for 2015.  These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior.

The estimates of GDP for the USVI show that real GDP—GDP adjusted to remove price changes— increased 0.9 percent in 2016 after increasing 0.3 percent in 2015 (see Table 1.3). For comparison, real GDP for the United States (excluding the territories) increased 1.5 percent in 2016 after increasing 2.9 percent in 2015.

Personal income increased 0.4 percent in October, the same increase as in September. Wages and salaries, the largest component of personal income, increased 0.3 percent in October after increasing 0.5 percent in September.