January 2019 Trade Gap is $51.1 Billion

The U.S. monthly international trade deficit decreased in January 2019 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $59.9 billion in December (revised) to $51.1 billion in January, as exports  increased and imports decreased. The…

2018 Trade Gap is $622.1 Billion

The U.S. international trade deficit increased in 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $552.3 billion in 2017 to $622.1 billion in 2018, as imports increased more than exports. As a percentage of U.S. gross domestic product…

Personal Income Grows in All States in 2018

State personal income increased 4.5 percent in 2018, after increasing 4.4 percent in 2017. In 2018, personal income increased in all states and the District of Columbia. The percent change in personal income across all states ranged from 6.8 percent in Washington to 2.9 percent in Hawaii.

GDP Back on Schedule With `Third’ Estimate

When the Bureau of Economic Analysis estimates the nation’s gross domestic product on March 28, it will officially be a “third estimate” – even though we’ve only estimated GDP for that quarter once before.

Wondering where the second estimate went? Don’t worry, we didn’t lose count. The…

Arts and Culture Economy Grows 2.9 Percent in 2016

Arts and cultural economic activity grew at an inflation-adjusted 2.9 percent in 2016, increasing faster than the nation’s economy overall. For comparison, U.S. gross domestic product, or GDP, rose 1.6 percent that year.

Among state economies, Nevada posted the fastest arts and culture…

Bohman Named Deputy Director of BEA

Mary Bohman, an agricultural economist with an impressive record of accomplishments in the public sector, was named Deputy Director of the Bureau of Economic Analysis.

Coming Soon: Arts and Culture Statistics for the U.S. and States

Take a bow, dancers, art teachers, and museum guides: The roles you and others play in the U.S. economy will be in the spotlight March 19.

That’s when the Bureau of Economic Analysis will release its annual statistics on the economic impact of arts and cultural activities. The data will…

Benchmark Update Completed for State, Local Personal Income

The Bureau of Economic Analysis has completed its comprehensive update of state and local area personal income statistics, some reaching back as far as 1929.

Comprehensive, or benchmark, updates are performed approximately every five years. They provide the opportunity to incorporate…

2018 Trade Gap is $621.0 Billion

The U.S. international trade deficit increased in 2018, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $552.3 billion in 2017 to $621.0 billion in 2018, as imports increased more than exports. As a percentage of U.S. gross domestic…

December 2018 Trade Gap is $59.8 Billion

The U.S. monthly international trade deficit increased in December 2018, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $50.3 billion in November (revised) to $59.8 billion in December, as imports increased and exports decreased. The…

BEA Working on Project to Estimate Puerto Rico’s GDP

The Bureau of Economic Analysis plans to produce new economic data for Puerto Rico this year that could lay the groundwork for later estimating the island’s gross domestic product.

BEA plans to develop and publish later this year estimates for specific components that would feed into…

Personal Income Decreases in January Following December Increase

Personal income decreased 0.1 percent in January after increasing 1.0 percent in December, the largest increase since December 2012. Wages and salaries, the largest component of personal income, increased 0.3 percent in January after increasing 0.5 percent in December.