June 27, 2025

Split Personal Income and Outlays, May 2025 and Gross Domestic Product by State and Personal Income by State, 1st Quarter 2025

Personal Income and Outlays, May 2025

Personal income decreased $109.6 billion (0.4 percent at a monthly rate) in May, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—decreased $125.0 billion (0.6 percent) and personal consumption expenditures (PCE) decreased $29.3 billion (0.1 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—decreased $27.6 billion in May. Personal saving was $1.01 trillion in May and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.5 percent.

Gross Domestic Product by State and Personal Income by State, 1st Quarter 2025

Real gross domestic product decreased in 39 states in the first quarter of 2025, with the percent change ranging from 1.7 percent at an annual rate in South Carolina to –6.1 percent in Iowa and Nebraska.

Personal income, in current dollars, increased in all 50 states and the District of Columbia in the first quarter of 2025, with the percent change ranging from 12.7 percent at an annual rate in North Dakota to 3.2 percent in Washington state.

Principal Federal Economic Indicators

Gross Domestic Product
Q1 2025 (3rd)
-0.5%
Personal Income
May 2025
-0.4%
International Trade in Goods and Services
April 2025
-$61.6 B
International Transactions
Q1 2025
-$450.2 B

Noteworthy

The Latest

Activities of U.S. Multinational Enterprises, 2021

November 17, 2023 | The BEA Wire

Worldwide employment by U.S. multinational enterprises (MNEs) increased 1.1 percent to 43.3 million workers in 2021 from 42.9 million workers in 2020.

Activities of U.S. Multinational Enterprises, 2021

November 17, 2023 | News Release

Worldwide employment by U.S. multinational enterprises (MNEs) increased 1.1 percent to 43.3 million workers in 2021 (preliminary) from 42.9 million workers in 2020 (revised), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA) on the operations and finances of U.S. parent companies and their foreign affiliates.

Personal Income by County and Metropolitan Area, 2022

November 16, 2023 | The BEA Wire

In 2022, personal income, in current dollars, increased in 1,964 counties, decreased in 1,107, and was unchanged in 43. Personal income increased 2.1 percent in the metropolitan portion of the United States and 1.3 percent in the nonmetropolitan portion.

Personal Income by County and Metropolitan Area, 2022

November 16, 2023 | News Release

In 2022, personal income, in current dollars, increased in 1,964 counties, decreased in 1,107, and was unchanged in 43. Personal income increased 2.1 percent in the metropolitan portion of the United States and 1.3 percent in the nonmetropolitan portion.

September 2023 Trade Gap is $61.5 Billion

November 7, 2023 | The BEA Wire

The U.S. goods and services trade deficit increased from $58.7 billion in August (revised) to $61.5 billion in September, as imports increased more than exports. The goods deficit increased $1.7 billion to $86.3 billion, and the services surplus decreased $1.2 billion to $24.8 billion.

U.S. International Trade in Goods and Services, September 2023

November 7, 2023 | News Release

The U.S. monthly international trade deficit increased in September 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $58.7 billion in August (revised) to $61.5 billion in September as imports increased more than exports. The goods deficit increased $1.7 billion in September to $86.3 billion. The services surplus decreased $1.2 billion in September to $24.8 billion.

Personal Income and Outlays, September 2023

October 27, 2023 | The BEA Wire

Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September. Disposable personal income — personal income less personal current taxes— increased $56.1 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $175.1 billion (0.9 percent) and consumer spending increased $138.7 billion (0.7 percent). Personal saving…

Personal Income and Outlays, September 2023

October 27, 2023 | News Release

Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September. Disposable personal income (DPI)—personal income less personal current taxes— increased $56.1 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $175.1 billion (0.9 percent) and consumer spending increased $138.7 billion (0.7 percent). Personal…

Gross Domestic Product, Third Quarter 2023 (Advance)

October 26, 2023 | The BEA Wire

Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, according to the “advance” estimate. In the second quarter, real GDP increased 2.1 percent. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

Gross Domestic Product, Third Quarter 2023 (Advance Estimate)

October 26, 2023 | News Release

Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, according to the “advance” estimate. In the second quarter, real GDP increased 2.1 percent. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.