Bureau of Economic Analysis

The Arts and Cultural Production Satellite Account released by the U.S. Bureau of Economic Analysis shows that arts and cultural economic activity, adjusted for inflation, increased 6.6 percent in 2023 after increasing 3.8 percent in 2022. By comparison, the broader economy, as measured by real gross domestic product (GDP), increased 2.9 percent in 2023 after increasing 2.5 percent in 2022. Arts and cultural economic activity accounted for 4.2…

The space economy accounted for $142.5 billion, or 0.5 percent, of total gross domestic product in 2023. Real GDP grew by 0.6 percent in the space economy, reflecting the second consecutive year of positive real growth. BEA updated its statistics for 2012-2022 and released new 2023 statistics in a Survey of Current Business article on the space economy.

Real gross domestic product increased in 48 states and the District of Columbia in the fourth quarter of 2024, with the percent change ranging from 5.1 percent at an annual rate in Arkansas to 0.6 percent in Vermont and remaining unchanged in Idaho and South Dakota. Personal income, in current dollars, increased in all 50 states and the District of Columbia in the fourth quarter of 2024, with the percent change ranging from 6.1 percent at an…

Personal income increased $194.7 billion (0.8 percent at a monthly rate) in February, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $191.6 billion (0.9 percent) and personal consumption expenditures (PCE) increased $87.8 billion (0.4 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current…

Real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the fourth quarter of 2024 (October, November, and December), according to the third estimate released by the U.S. Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent. The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in…

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was -$26.23 trillion at the end of the fourth quarter of 2024, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $35.89 trillion, and liabilities were $62.12 trillion. At the end of the third quarter, the net investment position was -$24.15 trillion (revised).

The U.S. current-account deficit narrowed by $6.3 billion, or 2.0 percent, to $303.9 billion in the fourth quarter of 2024, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised third-quarter deficit was $310.3 billion. The fourth-quarter deficit was 4.1 percent of current-dollar gross domestic product, down from 4.2 percent in the third quarter.

A blog from BEA Director Vipin Arora

In the alphabet soup of BEA acronyms, you’ve probably heard of GDP (gross domestic product). You might have heard of PCE (personal consumption expenditures, a fancy word for consumer spending). And you may have come across DPI (disposal personal income). But have you ever heard of RIMS II?

The U.S. monthly international trade deficit increased in January 2025 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $98.1 billion in December (revised) to $131.4 billion in January, as imports increased more than exports. The goods deficit increased $33.5 billion in January to $156.8 billion. The services surplus increased $0.2 billion in January to $25.4 billion.

Personal income increased $221.9 billion (0.9 percent at a monthly rate) in January, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $194.3 billion (0.9 percent) and personal consumption expenditures (PCE) decreased $30.7 billion (0.2 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current…