Wholesale Trade Led Growth in the Third Quarter

Wholesale trade; information; and finance and insurance were the leading contributors to the increase in U.S. economic growth in the third quarter of 2018. Overall, 19 of 22 industry groups contributed to the 3.4 percent increase in real GDP in the third quarter.

New Dates Set for GDP, Personal Income, and International Trade

Bureau of Economic Analysis data on U.S. gross domestic product, personal income and outlays, and international trade in goods and services that were delayed by the recent lapse in federal funding will be released in late February and early March.

November 2018 Trade Gap is $49.3 Billion

The U.S. monthly international trade deficit decreased in November 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $55.7 billion in October (revised) to $49.3 billion in November, as imports decreased more than exports. The previously published October deficit was $55.5 billion. The goods deficit decreased $6.7 billion in November to $71.6 billion. The services surplus decreased $0…

New Data About Foreign Investment in States, Local Areas

New research statistics about foreign direct investment in states, metro areas, and counties are available through a cooperative effort between the Bureau of Economic Analysis and the U.S. Bureau of Labor Statistics.

BEA and BLS combined their data to provide information about each state or local area’s employment at companies with foreign ownership, including:

U.S. Net International Investment Position Third Quarter 2018

The U.S. net international investment position decreased to −$9,627.2 billion (preliminary) at the end of the third quarter of 2018 from −$8,845.1 billion (revised) at the end of the second quarter. The $782.1 billion decrease reflected net financial transactions of −$24.6 billion and net other changes in position, such as price and exchange-rate changes, of −$757.5 billion.

New Dates Set for Some Delayed Releases

Bureau of Economic Analysis reports on the U.S. international investment position, trade in goods and services, state economies, and industry economics that were delayed by the recent lapse in federal funding will be released in February.

The new release dates:

BEA Economic Reports Delayed

Bureau of Economic Analysis reports scheduled for this week and next will be delayed because of the effects of the partial government shutdown.

Those reports are:

Real Consumer Spending Rises in November

Personal income increased 0.2 percent in November after increasing 0.5 percent in October. Wages and salaries, the largest component of personal income, increased 0.2 percent in November after increasing 0.4 percent in October.

GDP Increases in the Third Quarter

Real gross domestic product (GDP) increased 3.4 percent in the third quarter of 2018, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised down 0.1 percentage point from the “second” estimate released in November. In the second quarter, real GDP increased 4.2 percent.

State Personal Income, Third Quarter 2018

State personal income increased 4.0 percent at an annual rate in the third quarter of 2018, an acceleration from the 3.4 percent increase in the second quarter. Personal income increased in all states and the District of Columbia. The percent change in personal income across all states ranged from 6.2 percent in Nevada and Washington to 2.1 percent in Missouri.

U.S. Current-Account Deficit Increases in Third Quarter 2018

The U.S. current-account deficit increased to $124.8 billion (preliminary) in the third quarter of 2018 from $101.2 billion (revised) in the second quarter of 2018. As a percentage of U.S. GDP, the deficit increased to 2.4 percent from 2.0 percent. The previously published current-account deficit for the second quarter was $101.5 billion.

GDP for the U.S. Virgin Islands Decreases in 2017 Following Hurricanes Irma and Maria

The estimates of gross domestic product for the U.S. Virgin Islands show that real GDP—GDP adjusted to remove price changes—decreased 1.7 percent in 2017 after increasing 0.9 percent in 2016. For comparison, real GDP for the United States (excluding the territories) increased 2.2 percent in 2017 after increasing 1.6 percent in 2016.