Bureau of Economic Analysis

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…

The U.S. goods and services trade deficit decreased from $83.8 billion in September (revised) to $73.8 billion in October, as imports decreased more than exports. The goods deficit decreased $10.4 billion to $98.7 billion, and the services surplus decreased $0.4 billion to $24.8 billion.

The U.S. monthly international trade deficit decreased in October 2024 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $83.8 billion in September (revised) to $73.8 billion in October, as imports decreased more than exports. The goods deficit decreased $10.4 billion in October to $98.7 billion. The services surplus decreased $0.4 billion in October to $24.8 billion.

In 2023, real gross domestic product (GDP) increased in 2,357 counties, decreased in 734 counties, and was unchanged in 23 counties. The percent change in real GDP ranged from 125.8 percent in Throckmorton County, TX, to –39.6 percent in Lincoln County, WA.

Personal income increased $147.4 billion (0.6 percent at a monthly rate) in October. Disposable personal income (DPI)—personal income less personal current taxes—increased $144.1 billion (0.7 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $69.8 billion (0.3 percent) and consumer spending increased $72.3 billion (0.4 percent). Personal…

Personal income increased $147.4 billion (0.6 percent at a monthly rate) in October. Disposable personal income (DPI)—personal income less personal current taxes—increased $144.1 billion (0.7 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $69.8 billion (0.3 percent) and consumer spending increased $72.3 billion (0.4 percent). Personal…

Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the “second” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, federal government spending, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.

Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the “second” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, federal government spending, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.

Real gross domestic product (GDP) for the Commonwealth of the Northern Mariana Islands increased 16.7 percent in 2022 and 5.1 percent in 2021 after decreasing 29.1 percent in 2020. The growth in real GDP from 2021 to 2022 reflected increases in exports, government spending, and private fixed investment. These increases were partly offset by a decrease in personal consumption expenditures. Imports, a subtraction item in the calculation of GDP,…

The value added of the outdoor recreation economy accounted for 2.3 percent ($639.5 billion) of current-dollar gross domestic product (GDP) for the nation in 2023. At the state level, value added for outdoor recreation as a share of state GDP ranged from 6.3 percent in Hawaii to 1.6 percent in Delaware, Connecticut, and New York. The share was 0.8 percent in the District of Columbia.