Bureau of Economic Analysis

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.9 percent in the first quarter of 2012 (that is, from the fourth quarter to the first quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.0 percent. The GDP estimate released today is based on more…

State personal income growth accelerated to 0.8 percent in the first quarter of 2012, from 0.4 percent in the fourth quarter of 2011. Personal income rose in 47 of the 50 states, fell in Kansas and Mississippi, and was unchanged in Oklahoma. The percent change across states ranged from 2.3 percent in North Dakota to –0.3 percent in Mississippi. Inflation, as measured by the national price index for personal consumption expenditures, increased…

WASHINGTON DC, June 27, 2012 - State personal income growth accelerated to 0.8 percent in the first quarter of 2012, from 0.4 percent in the fourth quarter of 2011, according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income rose in 47 of the 50 states, fell in Kansas and Mississippi, and was unchanged in Oklahoma. The percent change across states ranged from 2.3 percent in North Dakota to –0.3 percent in…

The U.S. net international investment position at yearend 2011 was –$4,030.3 billion (preliminary), as the value of foreign investment in the United States exceeded the value of U.S. investment abroad. At yearend 2010, the U.S. net international investment position was –$2,473.6 billion (revised).

Increases in the prices of U.S. Treasury bonds and declines in foreign stock prices raised the value of foreign investment in the…

The U.S. net international investment position at yearend 2011 was -$4,030.3 billion (preliminary), as the value of foreign investment in the United States continued to exceed the value of U.S. investment abroad (table 1). At yearend 2010, the U.S. net international investment position was -$2,473.6 billion (revised). The -$1,556.7 billion change in the U.S.

Globalization, the financial crisis, the Great Recession, and Europe’s fiscal problems underscore just how important it is for countries to produce timely, accurate, and consistent data. Information on real gross domestic product, inflation, balance sheets, and international trade are essential to assessing cross-country effects and coordinating effective monetary, fiscal, regulatory, and trade policies.

Data from the Bureau of Economic Analysis (BEA) show that the United States has historically maintained a trade surplus in private services.  So what types of firms are involved in this kind of trade abroad?  Thanks to a new BEA study we have a better understanding of the kinds of American companies that export and import services.

Here are some of the key findings:

Inflation-adjusted spending on travel and tourism increased at an annual rate of 3.4 percent in the first three months of this year, the Bureau of Economic Analysis (BEA) reports. It had increased at a rate of 4.4 percent in the fourth quarter of 2011.  The slightly slower pace in the first quarter mostly reflected less spending on air travel and on lodging.

Still, travel and tourism spending has grown faster than the U.S.…

Real spending on travel and tourism increased at an annual rate of 3.4 percent in the first quarter of 2012 after increasing 4.4 percent (revised) in the fourth quarter of 2011. By comparison, growth in real gross domestic product (GDP) increased 1.9 percent (second estimate) in the first quarter after increasing 3.0 percent in the fourth quarter. The increase in real spending on tourism primarily reflected increases in traveler…

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $137.3 billion (preliminary) in the first quarter of 2012 from $118.7 billion (revised) in the fourth quarter of 2011. As a percentage of U.S. gross domestic product, the deficit increased to 3.6 percent from 3.1 percent. The previously published current-account deficit for the fourth quarter was $…