The BEA Wire | BEA's Official Blog

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.71 trillion at the end of the third quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).

Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the third quarter of 2022, with the percent change in real GDP ranging from 8.7 percent in Alaska to –0.7 percent in Mississippi.

Personal income increased $80.1 billion, or 0.4 percent at a monthly rate, while consumer spending increased $19.8 billion, or 0.1 percent, in November. The increase in personal income primarily reflected increases in compensation and personal income receipts on assets.

Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter.

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $21.6 billion, or 9.1 percent, to $217.1 billion in the third quarter of 2022.

Real personal consumption expenditures (PCE) by state increased in all 50 states and the District of Columbia in 2021. The percent change in real PCE across all 50 states and the District of Columbia ranged from 12.5 percent in Utah to 2.0 percent in West Virginia.

Real gross domestic product (GDP) increased in 2,404 counties, decreased in 691 counties, and was unchanged in 17 counties in 2021. The percent change in real GDP ranged from 81.8 percent in Coke County, TX, to –34.8 percent in Chouteau County, MT.

The U.S. monthly international trade deficit increased in October 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $74.1 billion in September (revised) to $78.2 billion in October, as imports increased and exports decreased.

Vipin Arora was named the new Director of the Bureau of Economic Analysis, bringing decades of economic experience to the post. His new status is effective immediately.

Personal income increased $155.3 billion, or 0.7 percent at a monthly rate, while consumer spending increased $147.9 billion, or 0.8 percent, in October. The increase in personal income primarily reflected increases in compensation and personal current transfer receipts.

Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter.

Worldwide employment by U.S. multinational enterprises (MNEs) decreased 1.8 percent to 42.4 million workers in 2020 from 43.2 million workers in 2019.