Bureau of Economic Analysis

U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce * Washington, DC 20230 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES April 2015 The U.S. Census Bureau and the U.S.

U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce * Washington, D.C. 20230

U.S. International Trade in Goods and Services

Annual Revision for 2014

Personal income increased 0.4 percent in April after increasing less than 0.1 percent in March. Wages and salaries, the largest component of personal income, rose 0.2 percent in April after rising 0.1 percent in March.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in April after rising less than 0.1 percent in March, reflecting increases in income receipts on assets and wages…

Personal income increased $59.4 billion, or 0.4 percent, and disposable personal income (DPI) increased $48.8 billion, or 0.4 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $2.6 billion, or less than 0.1 percent.

Real gross domestic product (GDP) decreased 0.7 percent in the first quarter of 2015, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was revised down 0.9 percentage point from the “advance” estimate released in April. In the fourth quarter of 2014, real GDP increased 2.2 percent.

GDP highlights The first-quarter decline in real GDP reflected declines in the following:

Real gross domestic product -- the value of the production of goods and services in the United States, adjusted for price changes -- decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent. The GDP estimate released today is based on more complete source data than were available for…

A new data tool–International Trade and Investment Country Facts Application–on the Bureau of Economic Analysis website gives users a snapshot of statistics on trade and investment between the United States and another country by simply clicking on a world map.

These fast facts at your fingertips can include:

The Bureau of Economic Analysis (BEA) is working on a multi-pronged action plan to improve its estimates of gross domestic product (GDP) by identifying and mitigating potential sources of “residual” seasonality. That’s when seasonal patterns remain in data even after they are adjusted for seasonal variations.

BEA’s estimates of GDP are seasonally adjusted to remove fluctuations that normally occur at about the same time and the same magnitude each year.  Seasonal adjustment ensures that the remaining movements in GDP, or any other economic series, better reflect true patterns in economic activity.  Examples of factors that may influence seasonal patterns include weather, holidays, and production schedules. (See “Why and how are…

Gaining a detailed picture of the role the United States plays in the global market place is made easier by the wealth of international investment statistics produced by the Bureau of Economic Analysis.  So it’s critically important that we get the most accurate information possible from businesses, private funds, and others who fill out our BEA surveys.