Bureau of Economic Analysis

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, narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022. The narrowing primarily reflected a reduced deficit on secondary income. Also contributing was an expanded surplus on services. The fourth-quarter deficit was 3.2 percent of…

The U.S. current-account deficit narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised third-quarter deficit was $219.0 billion. The fourth-quarter deficit was 3.2 percent of current-dollar gross domestic product, down from 3.4 percent in the third quarter.

This is the executive summary from a new BEA feasibility study report on measuring the bioeconomy.

BEA today updated and expanded prototype statistics that look more deeply into U.S. exports, revealing the mix of foreign and domestic content used to make exported goods and services.

For example, a tire manufactured in Ohio and sold in Canada might be made with rubber from China and steel belting from Mexico. Traditional trade statistics can’t separate the foreign inputs, like the tire’s rubber and steel, from the overall value of U…

Arts and cultural economic activity, adjusted for inflation, increased 13.7 percent in 2021 after decreasing 4.8 percent in 2020, according to statistics released today by the Bureau of Economic Analysis. By comparison, the broader economy, as measured by real gross domestic product, increased 5.9 percent in 2021 after decreasing 2.8 percent in 2020.

Arts and cultural economic activity accounted for 4.4 percent of U.S. GDP, or $1.02…

The Arts and Cultural Production Satellite Account released today by the Bureau of Economic Analysis (BEA) shows that arts and cultural economic activity, adjusted for inflation, increased 13.7 percent in 2021 after decreasing 4.8 percent in 2020. By comparison, the broader economy, as measured by real gross domestic product (GDP), increased 5.9 percent in 2021 after decreasing 2.8 percent in 2020. Arts and cultural economic activity accounted…

The U.S. international trade deficit increased from $845.0 billion in 2021 to $945.3 billion in 2022 (revised), as imports increased more than exports. The goods deficit increased $100.7 billion to $1.19 trillion, and the services surplus increased $0.5 billion to $245.7 billion. The goods and services deficit was 3.7 percent of current-dollar gross domestic product in 2022, up from 3.6 percent in 2021.

The U.S. international trade deficit increased from $67.2 billion in December (revised) to $68.3 billion in January, as imports increased more than exports. The goods deficit decreased $0.6 billion to $90.1 billion, and the services surplus decreased $1.7 billion to $21.8 billion.

The U.S. monthly international trade deficit increased in January 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $67.2 billion in December (revised) to $68.3 billion in January, as imports increased more than exports. The goods deficit decreased $0.6 billion in January to $90.1 billion. The services surplus decreased $1.7 billion in January to $21.8 billion.

Personal income increased $131.1 billion, or 0.6 percent at a monthly rate, while consumer spending increased $312.5 billion, or 1.8 percent, in January. The increase in personal income primarily reflected an increase in compensation. Government social benefits decreased in January, reflecting a decrease in “other” benefits that was partly offset by an increase in Social Security. The personal saving rate (that is, personal saving as a…