Bureau of Economic Analysis

Today, the U.S. Bureau of Economic Analysis released prototype statistics of quarterly gross domestic product (GDP) by state for 2005–2013. These new statistics provide a more complete picture of economic growth across states that can be used with other regional data to gain a better understanding of regional economies as they evolve from quarter to quarter.

The estimates of Gross Domestic Product for the U.S. Virgin Islands show that real GDP, adjusted to remove price changes, decreased 5.4 percent in 2013. This was the third consecutive decline following decreases of 13.8 percent in 2012 and 7.5 percent in 2011.

This release is available as a PDF download.

BEA’s annual gross domestic product by state report provides a crucial look into the health of states’ economies. Soon businesses, consumers, and policymakers will get a sneak peak at a more timely and frequent version of the report.

Prototype estimates of personal consumption expenditures (PCE) for states for 1997-2012 provide a new tool for state-level analysis of consumer activity and household economic well-being. The PCE-by-state estimates are released for 16 expenditure categories that correspond to the national level expenditure categories published by BEA.

Today, the U.S. Bureau of Economic Analysis released prototype estimates of personal consumption expenditures (PCE) for states for 1997-2012. These new estimates provide insight into household spending patterns across states that can be used together with other regional data to gain a better understanding of regional economies.

The U.S. monthly international trade deficit decreased in June 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.7 billion in May (revised) to $41.5 billion in June as exports increased and imports decreased. The previously published May deficit was $44.4 billion. The goods deficit decreased $3.0 billion from May to $60.3 billion in June; the services surplus increased $0.1…

On August 7th, the Commerce Department’s Bureau of Economic Analysis (BEA) will premiere a new report on consumer spending, “Personal Consumption Expenditures by State.” This represents a major advancement in the level of information available on consumer spending behaviors at the sub-national level. Why is it important? Because consumer spending is a major driver of the U.S. economy’s overall health.

NOTE: See the navigation bar at the right side of the news release text for a link to an important note about recent changes to goods and services that were implemented in June as part of BEA's comprehensive restructuring of the International Economic Accounts. Also see links to data tables, contact personnel and their telephone numbers, and supplementary materials.

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Is consumer spending growing faster in North Dakota or North Carolina? How do consumers in different regions respond to economic downturns? Which state has the fastest growing consumer market for motor vehicles?

On August 7, new BEA data on consumer spending broken out by state will help businesses, consumers, and policymakers answer those questions. The statistics will cover the years from 1997 to 2012.