Bureau of Economic Analysis

The Bureau of Economic Analysis today updated its supplemental health care statistics with an improved methodology that shows the growing role of prescription drug rebates over two decades. After subtracting the rebates, BEA's estimate of health care spending in 2020 was reduced by $158 billion, or 5.3 percent, from the previous estimate for 2020.

The U.S. goods and services trade deficit increased from $63.7 billion in June (revised) to $65.0 billion in July, as imports increased more than exports. The goods deficit increased $2.0 billion to $90.0 billion, and the services surplus increased $0.7 billion to $25.0 billion.

The U.S. monthly international trade deficit increased in July 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $63.7 billion in June (revised) to $65.0 billion in July as imports increased more than exports. The goods deficit increased $2.0 billion in July to $90.0 billion. The services surplus increased $0.7 billion in June to $25.0 billion.

For the first time, the Bureau of Economic Analysis will produce its benchmark updates of the nation’s gross domestic product and related industry and state statistics within the same timeframe. The updates will begin with initial results Sept. 28 and 29.

Previously, the benchmark updates of national, industry, and state data were conducted separately and spread over five months. Coordinating these statistics allows data users to…

Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July. Disposable personal income (DPI)—personal income less personal current taxes— increased $7.3 billion (less than 0.1 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $153.8 billion (0.8 percent) and consumer spending increased $144.6 billion (0.8 percent).…

Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July. Disposable personal income (DPI)—personal income less personal current taxes— increased $7.3 billion (less than 0.1 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $153.8 billion (0.8 percent) and consumer spending increased $144.6 billion (0.8 percent).…

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2023, according to the “second” estimate. In the first quarter, real GDP increased 2.0 percent. The increase in the second quarter primarily reflected increases in consumer spending and business investment that were partly offset by a decrease in exports. Imports, which are a subtraction in the calculation of GDP, decreased.

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2023, according to the “second” estimate. In the first quarter, real GDP increased 2.0 percent. The increase in the second quarter primarily reflected increases in consumer spending and business investment that were partly offset by a decrease in exports. Imports, which are a subtraction in the calculation of GDP, decreased. Profits decreased…

Majority-owned U.S. affiliates of foreign multinational enterprises employed 7.94 million workers in the United States in 2021, a 2.9 percent increase from 7.71 million workers in 2020, according to the U.S. Bureau of Economic Analysis (BEA). These affiliates accounted for 6.2 percent of total private-industry employment in the United States in 2021.

Majority-owned U.S. affiliates of foreign multinational enterprises employed 7.94 million workers in the United States in 2021, a 2.9 percent increase from 7.71 million workers in 2020, according to the U.S. Bureau of Economic Analysis (BEA). These affiliates accounted for 6.2 percent of total private-industry employment in the United States in 2021.