Bureau of Economic Analysis

Three new members are joining the BEA Advisory Committee: Nela Richardson of Automatic Data Processing Inc. (ADP); Louise Sheiner, Brookings Institution; and Heather Stephens, West Virginia University.

The committee advises BEA’s director on matters related to the development and improvement of BEA’s national, regional, and international statistics and provides recommendations from the perspectives of the economics profession,…

The new U.S. data show that the outdoor recreation economy accounted for 1.8 percent ($374.3 billion) of current-dollar gross domestic product for the nation in 2020. At the state level, outdoor recreation value added as a share of state GDP ranged from 4.3 percent in Montana to 1.2 percent in New York and Connecticut. The share was 0.8 percent in the District of Columbia. Outdoor recreation estimates were impacted by the response to the…

The new U.S. data show that the outdoor recreation economy accounted for 1.8 percent ($374.3 billion) of current-dollar gross domestic product (GDP) for the nation in 2020. At the state level, outdoor recreation value added as a share of state GDP ranged from 4.3 percent in Montana to 1.2 percent in New York and Connecticut. The share was 0.8 percent in the District of Columbia. Outdoor recreation estimates were impacted by the response to the…

The U.S. monthly international trade deficit increased in September 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $72.8 billion in August (revised) to $80.9 billion in September, as imports increased and exports decreased. The previously published August deficit was $73.3 billion. The goods deficit increased $8.9 billion in September to $98.2 billion. The services surplus…

The U.S. monthly international trade deficit increased in September 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $72.8 billion in August (revised) to $80.9 billion in September, as imports increased and exports decreased. The previously published August deficit was $73.3 billion. The goods deficit increased $8.9 billion in September to $98.2 billion. The services surplus increased…

Personal income decreased$216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased$93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.5 percent in September, compared with 9.2 percent in August.

Personal income decreased $216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased $93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.5 percent in September, compared with 9.2 percent in August.

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country. In the third quarter, government assistance…

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country. In the third quarter, government assistance payments…

State personal consumption expenditures (PCE) decreased 2.6 percent in 2020 after increasing 3.7 percent in 2019. The percent change in PCE across all 50 states and the District of Columbia ranged from 1.2 percent in Idaho and Utah to –5.8 percent in the District of Columbia. The PCE by state estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted "stay-at-home" orders. This led to rapid changes in…