The U.S. Bureau of Economic Analysis has updated its regional economic modeling system used by local planners, investors, and policymakers. This tool can help assess the potential economic effects of a new corporate headquarters, a highway project, or new regulations.
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Personal income increased 0.1 percent in July after increasing 0.5 percent in June. Wages and salaries, the largest component of personal income, increased 0.2 percent in July after increasing 0.5 percent in June.
Real gross domestic product (GDP) increased 2.0 percent in the second quarter of 2019, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point lower than the “advance” estimate released in July.
The Bureau of Economic Analysis released estimates of gross domestic product (GDP) for American Samoa for 2018, in addition to estimates of GDP by industry and compensation by industry for 2017.
Worldwide employment by U.S. multinational enterprises (MNEs) increased 0.4 percent to 42.5 million workers in 2017 from 42.3 million in 2016.
Highlights of the statistics on employment by U.S. parents in 2017:
The U.S. monthly international trade deficit decreased in June 2019 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $55.3 billion in May (revised) to $55.2 billion in June,as imports decreased more than exports.
Personal income increased 0.4 percent in June, the same increase as in May. Wages and salaries, the largest component of personal income, increased 0.5 percent in June after increasing 0.2 percent in May.
Real gross domestic product increased 2.1 percent in the second quarter of 2019, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter of 2019. The percent change in real GDP in the first quarter ranged from 5.2 percent in West Virginia to 1.2 percent in Hawaii.
The U.S. direct investment abroad position, or cumulative level of investment, decreased $62.3 billion to $5.95 trillion at the end of 2018 from $6.01 trillion at the end of 2017. The decrease was due to the repatriation of accumulated prior earnings by U.S.
Finance and insurance; retail trade; and health care and social assistance were the leading contributors to the increase in U.S. economic growth in the first quarter of 2019. Overall, 16 of 22 industry groups contributed to the 3.1 percent increase in real GDP in the first quarter.
The U.S. Bureau of Economic Analysis is expanding our annual updates that bring the economic picture of previous years into sharper focus. Starting with the July 26 update, we’ll begin revisiting at least five years of national statistics, instead of three, each summer.