Bureau of Economic Analysis

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…

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…

Real gross domestic product (GDP) increased at an annual rate of 2.7 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.

Real gross domestic product (GDP) increased at an annual rate of 2.7 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.

BEA is expanding its prototype statistics that provide a more complete and nuanced understanding of U.S. exports. Watch for an update and expansion of the statistics known as trade in value added, or TiVA, coming in March.