The BEA Wire | BEA's Official Blog
American Samoa Economy Shrinks in 2013; Consumer Spending Grows
Estimates of gross domestic product (GDP) for American Samoa show that real GDP — adjusted to remove price changes — decreased 2.4 percent in 2013. In contrast, real GDP for the U.S. (excluding the territories) increased 2.2 percent in 2013.
The decline in the American Samoa economy reflected a decrease in territorial government spending that was partly offset by increases in consumer spending and private fixed investment.
Brian Moyer Named New BEA Director
Brian Moyer was named Director of the Bureau of Economic Analysis, bringing more than 20 years of experience in economic statistics to the post. His new status as Director takes effect Sept. 21.
Dr. Moyer is currently BEA’s Deputy Director and has served as Acting Director since May 2 when the agency’s previous chief retired.
July 2014 Trade Gap is $40.5 Billion
The U.S. monthly international trade deficit decreased in July 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $40.8 billion in June (revised) to $40.5 billion in July as exports increased more than imports. The previously published June deficit was $41.5 billion. The goods deficit decreased $0.2 billion from June to $60.2 billion in July; the services surplus was nearly unchanged…
Real Consumer Spending Falls in July
Personal Income rose 0.2 percent in July after rising 0.5 percent in June. Wages and salaries, the largest component of personal income, rose 0.2 percent in July after rising 0.4 percent in June.
Current-dollar disposable personal income (DPI), after-tax income rose 0.1 percent in July after rising 0.5 percent in June.
Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in July after…
GDP Up in Second Quarter
Real gross domestic product (GDP) increased 4.2 percent in the second quarter of 2014, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent. The second-quarter growth rate was revised up 0.2 percentage point from the “advance” estimate released in July.
Second-quarter highlights
The upturn in real GDP growth was primarily driven by the following:…
New Statistics on the Activities of U.S. Multinational Enterprises are Now Available
The Bureau of Economic Analysis has released preliminary 2012 statistics on the outward activities of multinational enterprises (AMNEs). Outward AMNE statistics cover the worldwide activities of U.S. multinational enterprises (MNEs). These statistics provide information on the finance and operations of U.S. MNEs, including balance sheet and income statement details, employment and employee compensation, sales, value added, capital…
Quarterly Gross Domestic Product by State, 2005–2013 (Prototype Statistics)
The quarterly GDP by state prototype statistics for 2005-2013 provide a more complete picture of economic growth across states as they evolve from quarter to quarter. The quarterly GDP by state statistics are released for 21 industry sectors and are released in both current dollars and inflation-adjusted chained (2009) dollars. Nondurable-goods manufacturing was the largest contributor to U.S. real GDP by state growth in the…
U.S. Virgin Islands' Economy Shrinks for Third Consecutive Year
The estimates of Gross Domestic Product for the U.S. Virgin Islands show that real GDP, adjusted to remove price changes, decreased 5.4 percent in 2013. This was the third consecutive decline following decreases of 13.8 percent in 2012 and 7.5 percent in 2011.
Coming Soon: More Timely Data on the Health of States' Economies
BEA’s annual gross domestic product by state report provides a crucial look into the health of states’ economies. Soon businesses, consumers, and policymakers will get a sneak peak at a more timely and frequent version of the report.
Personal Consumption Expenditures by State Prototype Estimates for 1997-2012
Prototype estimates of personal consumption expenditures (PCE) for states for 1997-2012 provide a new tool for state-level analysis of consumer activity and household economic well-being. The PCE-by-state estimates are released for 16 expenditure categories that correspond to the national level expenditure categories published by BEA.
June 2014 Trade Gap is $41.5 Billion
The U.S. monthly international trade deficit decreased in June 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.7 billion in May (revised) to $41.5 billion in June as exports increased and imports decreased. The previously published May deficit was $44.4 billion. The goods deficit decreased $3.0 billion from May to $60.3 billion in June; the services surplus increased $0.1…
BEA's New Statistical Product Enriches Understanding of Consumer Behavior at the State Level
On August 7th, the Commerce Department’s Bureau of Economic Analysis (BEA) will premiere a new report on consumer spending, “Personal Consumption Expenditures by State.” This represents a major advancement in the level of information available on consumer spending behaviors at the sub-national level. Why is it important? Because consumer spending is a major driver of the U.S. economy’s overall health.