The U.S. Bureau of Economic Analysis has released a comprehensive update of its industry statistics, including improvements that reflect the evolving U.S. economy, update the benchmark year, and provide more detailed annual and quarterly data.
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Personal income increased 0.5 percent in October after increasing 0.2 percent in September. Wages and salaries, the largest component of personal income, increased 0.3 percent in October, the same increase as in September.
Real gross domestic product (GDP) increased 3.5 percent in the third quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was unrevised from the “advance” estimate released in October.
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Personal income increased in 2,787 counties, decreased in 318, and was unchanged in 8 in 2017. Personal income increased 4.5 percent in the metropolitan portion of the United States and increased 3.2 percent in the nonmetropolitan portion in 2017.
The estimates of GDP for Guam show that real GDP—GDP adjusted to remove price changes—increased 0.2 percent in 2017 after increasing 0.3 percent in 2016.
Majority-owned U.S. affiliates (MOUSAs) of foreign multinational enterprises (MNEs) employed 7.1 million workers (preliminary) in the United States in 2016, a 3.9 percent increase from 6.8 million (revised) in 2015, according to the Bureau of Economic Analysis.
The Bureau of Economic Analysis made changes today to some of our tables showing data about states, counties, metro areas, and other local areas. The changes make the presentation of data more consistent across BEA’s regional tables.
The U.S. monthly international trade deficit increased in September 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $53.3 billion in August (revised) to $54.0 billion in September, as imports increased more than exports.
Information; real estate and rental and leasing; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the second quarter of 2018.
For the first time, the Bureau of Economic Analysis is measuring the gross domestic product of the more than 3,000 counties in the United States. Prototype GDP statistics for each county will be published on our website Dec. 12.