Bureau of Economic Analysis

Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the second quarter of 2017 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month.

The U.S. net international investment position increased to −$7,934.9 billion (preliminary) at the end of the second quarter from −$8,091.6 billion (revised) at the end of the first quarter. The $156.7 billion increase reflected net financial transactions of –$107.5 billion and net other changes in position, such as price and exchange-rate changes, of $264.2 billion.

The U.S. net international investment position increased to -$7,934.9 billion (preliminary) at the end of the second quarter of 2017 from -$8,091.6 billion (revised) at the end of the first quarter, according to statistics released today by the Bureau of Economic Analysis (BEA). The $156.7 billion increase reflected a $1,004.2 billion increase in U.S. assets and an $847.5 billion increase in U.S. liabilities (table 1).

State personal income grew 0.7 percent on average in the second quarter of 2017, after increasing 1.4 percent in the first quarter.

State personal income grew 0.7 percent on average in the second quarter of 2017, after increasing 1.4 percent in the first quarter. Each of the major aggregates of personal income—net earnings, property income, and personal current transfer receipts—grew more slowly than in the first quarter.

Real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016 according to statistics on the geographic breakout of GDP released by the Bureau of Economic Analysis. Real GDP by metropolitan area growth ranged from 8.1 percent in Lake Charles, LA and Bend-Redmond, OR to -13.3 percent in Odessa, TX (table 2).

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017. As a percentage of U.S. GDP, the deficit increased to 2.6 percent from 2.4 percent. The previously published current-account deficit for the first quarter was $116.8 billion.

Current-Account Balance The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA).

Real spending (output) on travel and tourism accelerated in the second quarter of 2017, growing at an annual rate of 4.9 percent after increasing 4.4 percent (revised) in the first quarter, according to new statistics released by the Bureau of Economic Analysis.