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.
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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.
Durable-goods manufacturing, professional, scientific, and technical services, and information services were the leading contributors to U.S.
Small counties registered the fastest growth in personal incomes in 2010, new data from the U.S. Bureau of Economic Analysis show.
Worldwide employment by U.S. multinational companies increased 0.5 percent in 2010 to 34.0 million workers, with increases in both the United States and abroad, new numbers released by the U.S. Bureau of Economic Analysis show.
The U.S. monthly international trade deficit decreased in February 2012, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $52.5 billion (revised) in January to $46.0 billion in February, as imports decreased and exports increased.
BEA Director Steve Landefeld