The BEA Wire | BEA's Official Blog
Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, First Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 6.4 percentin the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19pandemic. The increase was the same rate as the “second” estimate released in May.
Personal Income by State, 1st Quarter 2021
State personal income increased 59.7 percent at an annual rate in the first quarter of 2021 after decreasing 3.9 percent in the fourth quarter of 2020. In the first quarter of 2021, the increase in transfer receipts was the leading contributor to personal income growth in all states and the District of Columbia. The percent change in personal income ranged from 89.3 percent in Mississippi to 31.1 percent in the District of Columbia.
Personal Income and Outlays, April 2021
Personal income decreased $3.21 trillion, or 13.1 percent at a monthly rate, while consumer spending increased $80.3 billion, or 0.5 percent, in April. Economic impact payments established by the American Rescue Plan Act, declined sharply in April. In addition to presenting estimates for April 2021, these highlights provide comparisons to February 2020, the last month before the onset of the COVID-19 pandemic in the United States. For more…
Personal Income and Outlays, February 2021
Personal income decreased $1,516.6 billion, or 7.1 percent at a monthly rate, while consumer spending decreased $149.0 billion, or 1.0 percent, in February. Economic impact payments associated with the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act of 2021 (which was enacted on December 27, 2020) declined sharply in February and unemployment benefits continued, but at a lower level.
Personal Income by State, 2020
State personal income increased 6.1 percent in 2020 after increasing 3.9 percent in 2019. In 2020, the increase in transfer receipts was the leading contributor to personal income growth in all states and the District of Columbia. The percent change in personal income across all states ranged from 8.4 percent in Arizona and Montana to 2.4 percent in Wyoming.
Personal Income and Outlays, January 2021
Personal income increased 10.0 percent (monthly rate) while consumer spending increased 2.4 percent in January as provisions of the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act enacted on December 27, 2020, began to take effect.
Personal Income and Outlays, November 2020
Personal income decreased 1.1 percent while consumer spending decreased 0.4 percent in November as federal economic recovery payments and pandemic-related assistance programs continued to wind down.
Personal Income by State, 3rd Quarter 2020
State personal income decreased 10.0 percent at an annual rate in the third quarter of 2020, after increasing 35.8 percent in the second quarter. Personal income decreased in every state and the District of Columbia, ranging from –29.9 percent in West Virginia to –0.6 percent in Georgia.
Real Personal Income by Metropolitan Area, 2019
The percent change in real metropolitan area personal income ranged from 7.6 percent in Hanford-Corcoran, CA, to –3.2 percent in Panama City, FL, and Wheeling, WV-OH.
Real Personal Income by State, 2019
The percent change in real state personal income ranged from 4.1 percent in Maine to 0.7 percent in Hawaii, Wyoming, and Rhode Island.
Personal Income and Outlays, October 2020
Personal income decreased 0.7 percent while consumer spending increased 0.5 percent in October as federal economic recovery payments and pandemic-related assistance programs continued to wind down.
Personal Income by County and Metropolitan Area, 2019
In 2019, personal income increased in 2,964 counties, decreased in 139, and was unchanged in 10. Personal income increased 4.0 percent in the metropolitan portion of the United States and increased 3.5 percent in the nonmetropolitan portion.