What is the Value of Household Work?

The Nobel Prize winner Simon Kuznets presented an original set of estimates to Congress in 1934 that contained a number of caveats about what was omitted from the calculation of national income (and later from the calculation of gross domestic product) that made it an…

April Trade Gap is $50.1 Billion

The U.S. monthly international trade deficit decreased in April 2012, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $52.6 billion (revised) in March to $50.1 billion in April, as imports decreased more than exports. The previously…

Widespread State Economic Growth in 2011

Real GDP increased in 43 states and the District of Columbia in 2011. Leading industry contributors were durable-goods manufacturing; professional, scientific, and technical services; and information services.

Durable-goods manufacturing was the leading contributor to real GDP growth in…

Real Consumer Spending Picks Up in April

Personal income increased 0.2 percent in April after increasing 0.4 percent in March.

Current-dollar disposable personal income (DPI)—after-tax income—increased 0.2 percent in April after increasing 0.4 percent in March.

Real DPI—income adjusted for taxes and inflation—increased…

GDP Growth Moderates in First Quarter

Real gross domestic product (GDP) rose 1.9 percent in the first quarter of 2012 after rising 3.0 percent in the fourth quarter, according to the second estimate released today by the Bureau of Economic Analysis. The first-quarter growth rate was 0.3 percentage point less than the “advance”…

What is the U.S. Bureau of Economic Analysis?

The U.S. Bureau of Economic Analysis, a unit of the U.S. Department of Commerce, is the federal agency responsible for measuring the U.S. economy, or as some say…

Tracking Foreigners' Spending in the United States

Have you ever wondered what foreigners spend their money on while visiting the United States or what Americans buy while overseas? BEA is often asked for this information, but until recently, didn’t have the means to fully respond. So, we embarked on a research project aimed at finding the…

Personal Income Increased 0.4 Percent in March

Personal income in the United States increased 0.4 percent in March after increasing 0.3 percent in February. Wages and salaries rose 0.3 percent in March after rising 0.4 percent in February.

Current-dollar disposable personal income (DPI)—income after taxes—increased 0.4 percent in…

GDP Growth Slows in First Quarter

Real gross domestic product (GDP) increased 2.2 percent in the first quarter of 2012 after increasing 3.0 percent in the fourth quarter of 2011, according to estimates released today by the U.S. Bureau of Economic Analysis.

First-quarter highlights
The slower…

GDP Growth Slows in First Quarter

Real gross domestic product (GDP) increased 2.2 percent in the first quarter of 2012 after increasing 3.0 percent in the fourth quarter of 2011, according to estimates released today by the U.S. Bureau of Economic Analysis.

First-Quarter GDP Defense Spending

In the first quarter of 2012, defense spending declined at an 8.1 percent annual rate, reflecting decreases in compensation of employees (accompanying a drop in the number of active-duty military personnel), in purchases of goods and services, and in investment for defense equipment.

Manufacturing Led Growth In 2011

Durable-goods manufacturing, professional, scientific, and technical services, and information services were the leading contributors to U.S. economic growth in 2011, according to advance statistics on the breakout of real gross domestic product (GDP) by industry from…