Bureau of Economic Analysis

Real gross domestic product (GDP) increased 4.1 percent in the third quarter of 2013, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.5 percentage point more than the “second” estimate released earlier this month. In the second quarter, the growth rate was 2.5 percent.

GDP highlights Inventory investment accelerated in the third quarter, accounting for about 40 percent of real GDP…

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 4.1 percent in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.5 percent. The GDP estimate released today is based on…

State personal income growth slowed slightly to 1.1 percent in the third quarter of 2013, from 1.2 percent in the second quarter. Growth slowed in 25 states, accelerated in 22, and was unchanged in 3 states and the District of Columbia. Growth across states ranged from 0.4 percent in New Mexico to 1.9 percent in Mississippi. The national price index for personal consumption expenditures increased 0.5 percent in the third quarter after…

State personal income growth slowed slightly to 1.1 percent in the third quarter of 2013, from 1.2 percent in the second quarter, according to estimates released today by the U.S. Bureau of Economic Analysis. Growth slowed in 25 states, accelerated in 22, and was unchanged in 3 states and the District of Columbia. Growth across states ranged from 0.4 percent in New Mexico to 1.9 percent in Mississippi. The national price index for personal…

Real spending on travel and tourism decelerated in the third quarter of 2013, increasing at an annual rate of 2.5 percent after increasing 3.5 percent (revised) in the second quarter of 2013.

Real Tourism Spending.  Real spending on “passenger air transportation” continued to decelerate, increasing 6.2 percent in the third quarter after increasing 14.8 percent in the second quarter.  Real spending on “food services and…

Real spending on travel and tourism decelerated in the third quarter of 2013, increasing at an annual rate of 2.5 percent after increasing 3.5 percent (revised) in the second quarter of 2013. By comparison, growth in real gross domestic product (GDP) accelerated, increasing 3.6 percent (second estimate) in the third quarter after increasing 2.5 percent in the second quarter.

The Bureau of Economic Analysis (BEA) today released its 2007 Benchmark Input-Output (I-O) Account of the U.S. Economy. This widely used accountwhich provided the foundation for BEAs 2013 comprehensive revision of its gross domestic product (GDP) statisticsoffers a comprehensive picture of the inner workings of the U.S. economy, showing production relationships among nearly 400 industries and commodities.

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $94.8 billion (preliminary) in the third quarter of 2013 from $96.6 billion (revised) in the second quarter of 2013. As a percentage of U.S. gross domestic product, the deficit decreased to 2.2 percent from 2.3 percent. The previously published current-account deficit for the second quarter was $98.9…

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Personal income decreased 0.1 percent in October after increasing 0.5 percent in September. Wages and salaries, the largest component of personal income, rose 0.1 percent after rising 0.4 percent. Proprietors’ income fell 1.4 percent in October due to a decline in farm proprietors’ income after farmers received a one-time payment in September for a settlement of a lawsuit against the Department of Agriculture.