Bureau of Economic Analysis

The U.S. monthly international trade deficit increased in November 2024 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $73.6 billion in October (revised) to $78.2 billion in November, as imports increased more than exports. The goods deficit increased $5.4 billion in November to $103.4 billion. The services surplus increased $0.9 billion in November to $25.2 billion.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was -$23.60 trillion at the end of the third quarter of 2024, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $37.86 trillion, and liabilities were $61.46 trillion. At the end of the second quarter, the net investment position was -$22.55 trillion (revised).

Real gross domestic product increased in 46 states and the District of Columbia in the third quarter of 2024, with the percent change ranging from 6.9 percent at an annual rate in Arkansas to –2.3 percent in North Dakota. Personal income, in current dollars, increased in 49 states and the District of Columbia, with the percent change ranging from 5.4 percent at an annual rate in Arkansas to –0.7 percent in North Dakota.

Personal income increased $71.1 billion (0.3 percent at a monthly rate) in November. Disposable personal income (DPI)—personal income less personal current taxes—increased $61.1 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $78.2 billion (0.4 percent) and consumer spending increased $81.3 billion (0.4 percent). Personal…

Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the third quarter of 2024, according to the “third” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, business investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $35.9 billion, or 13.1 percent, to $310.9 billion in the third quarter of 2024. The widening reflected expanded deficits on secondary income, on primary income, and on goods. The third-quarter deficit was 4.2 percent of current-dollar gross domestic product,…

The U.S. current-account deficit widened by $35.9 billion, or 13.1 percent, to $310.9 billion in the third quarter of 2024, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised second-quarter deficit was $275.0 billion. The third-quarter deficit was 4.2 percent of current-dollar gross domestic product, up from 3.7 percent in the second quarter.

Real personal consumption expenditures (PCE) by state increased in 48 states and the District of Columbia in 2023, with the percent change ranging from 7.3 percent in Maine to –0.6 percent in Alabama. Real PCE for the nation increased 2.5 percent in 2023.

For over 100 years, our nation’s statistical system has delivered trusted, high-quality statistics that drive government, business, and household decisions. Over that time, BEA and other statistical agencies have evolved with and adapted to our ever-changing economy. Today, we celebrate another step in that evolution with the publication of the “Trust Regulation.”

A blog post from BEA Director Vipin Arora

An old boss of mine was fond of a BEA product that many of our users don’t know about—regional price parities (RPPs). He said regional price parities are BEA’s most underappreciated statistic. While I love all our products equally—just like I love all my kids equally—I can’t help but agree that the RPPs are a gem that sometimes gets overlooked. I hope you won’t overlook the new RPP data coming…