Bureau of Economic Analysis

Personal income decreased 1.1 percent while consumer spending decreased 0.4 percent in November as federal economic recovery payments and pandemic-related assistance programs continued to wind down.

Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The change was 0.3 percentage point higher than the “second” estimate released in November. In the second quarter of 2020, real GDP decreased 31.4 percent. For more details, including source data, see the Technical Note and…

Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The change was 0.3 percentage point higher than the “second” estimate released in November. In the second quarter of 2020, real GDP decreased 31.4 percent.

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 $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020. The widening reflected an expanded deficit on goods that was partly offset by an expanded surplus on primary income. The third quarter deficit was 3.4 percent of current dollar…

The U.S. current account deficit widened by $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis. The revised second quarter deficit was $161.4 billion. The third quarter deficit was 3.4 percent of current dollar gross domestic product, up from 3.3 percent in the second quarter.

State personal income decreased 10.0 percent at an annual rate in the third quarter of 2020, after increasing 35.8 percent in the second quarter. Personal income decreased in every state and the District of Columbia, ranging from –29.9 percent in West Virginia to –0.6 percent in Georgia.

State personal income decreased 10.0 percent at an annual rate in the third quarter of 2020, after increasing 35.8 percent in the second quarter. Personal income decreased in every state and the District of Columbia, ranging from –29.9 percent in West Virginia to –0.6 percent in Georgia.

The percent change in real metropolitan area personal income ranged from 7.6 percent in Hanford-Corcoran, CA, to –3.2 percent in Panama City, FL, and Wheeling, WV-OH.

The percent change in real state personal income ranged from 4.1 percent in Maine to 0.7 percent in Hawaii, Wyoming, and Rhode Island.

Real state personal income grew 2.4 percent in 2019 after increasing 3.1 percent in 2018, according to estimates released today by the Bureau of Economic Analysis (BEA). Real state personal income is a state's current-dollar personal income adjusted by the state's regional price parity and the national personal consumption expenditures price index. The percent change in real state personal income ranged from 4.1 percent in Maine to 0.7…