Personal income increased 0.2 percent in May, the same increase as in April. The increase in wages and salaries was less than 0.1 percent in May, compared with an increase of 0.1 percent in April.
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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 estimates released by the Bureau of Economic Analysis. The first-quarter growth rate was unchanged from the second estimate released in May.
State personal income growth accelerated to 0.8 percent in the first quarter of 2012, from 0.4 percent in the fourth quarter of 2011. Personal income rose in 47 of the 50 states, fell in Kansas and Mississippi, and was unchanged in Oklahoma.
The U.S. net international investment position at yearend 2011 was –$4,030.3 billion (preliminary), as the value of foreign investment in the United States exceeded the value of U.S. investment abroad. At yearend 2010, the U.S.
Globalization, the financial crisis, the Great Recession, and Europe’s fiscal problems underscore just how important it is for countries to produce timely, accurate, and consistent data.
Data from the Bureau of Economic Analysis (BEA) show that the United States has historically maintained a trade surplus in private services. So what types of firms are involved in this kind of trade abroad? Thanks to a new BEA study we have a better understanding of the kinds of Ameri
Inflation-adjusted spending on travel and tourism increased at an annual rate of 3.4 percent in the first three months of this year, the Bureau of Economic Analysis (BEA) reports. It had increased at a rate of 4.4 percent in the fourth quarter of 2011. The slightly slower pace in the f
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $137.3 billion (preliminary) in the first quarter of 2012 from $118.7 billion (revised) in the fourth quarter of 2011. As a percentage of U.S.
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 imperfec
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.
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.