Bureau of Economic Analysis

Personal income increased $71.6 billion, or 0.3 percent at a monthly rate, while consumer spending increased $67.5 billion, or 0.4 percent, in August. The increase in personal income primarily reflected increases in compensation and proprietors’ income. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 3.5 percent in August, the same rate as in July.

Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The second-quarter decrease was the same as previously estimated in the “second” estimate released in August. The smaller decrease in the second quarter, compared to the first quarter, reflected an upturn in exports and an acceleration in consumer spending. For more details,…

Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The second-quarter decrease was the same as previously estimated in the “second” estimate released in August. The smaller decrease in the second quarter, compared to the first quarter, reflected an upturn in exports and an acceleration in consumer spending. Profits increased 4.6…

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.31 trillion at the end of the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $30.98 trillion, and liabilities were $47.29 trillion. At the end of the first quarter, the net investment position was –$17.75 trillion.

The U.S. net international investment position (IIP), the difference between U.S. residents’ foreign financial assets and liabilities, was -$16.31 trillion at the end of the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $30.98 trillion, and liabilities were $47.29 trillion. At the end of the first quarter, the net investment position was -$17.75 trillion.

The U.S. current-account deficit narrowed by $31.5 billion, or 11.1 percent, to $251.1 billion in the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised first-quarter deficit was $282.5 billion. The second-quarter deficit was 4.0 percent of current-dollar gross domestic product, down from 4.6 percent in the first quarter.

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 $31.5 billion, or 11.1 percent, to $251.1 billion in the second quarter of 2022. The narrowing mostly reflected a decreased deficit on goods. The second-quarter deficit was 4.0 percent of current-dollar gross domestic product, down from 4.6 percent in the…

At the end of September, BEA will update five years of U.S. gross domestic product and related statistics, as well as GDP statistics for industries and for each state.

These updates are part of a cycle the U.S. Bureau of Economic Analysis follows to continue refining its statistics as more information becomes available. The annual updates incorporate data that only become available yearly, such as from the Census Bureau’s annual…

The U.S. monthly international trade deficit decreased in July 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $80.9 billion in June (revised) to $70.6 billion in July, as exports increased and imports decreased. The previously published June deficit was $79.6 billion. The goods deficit decreased $8.2 billion in July to $91.1 billion. The services surplus increased $2.1 billion in…

The U.S. monthly international trade deficit decreased in July 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $80.9 billion in June (revised) to $70.6 billion in July, as exports increased and imports decreased. The previously published June deficit was $79.6 billion. The goods deficit decreased $8.2 billion in July to $91.1 billion. The services surplus increased $2.1 billion in…