Perspective from the BEA Accounts

BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on this page are drawn from featured BEA economic accounts.

National Economic Accounts

Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), 2nd Quarter 2022 and Annual Update

Q2 2022 (3rd)
Q1 2022 (3rd)

Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The second-quarter decrease was the same as previously estimated in the “second” estimate released in August. The smaller decrease in the second quarter, compared to the first quarter, reflected an upturn in exports and an acceleration in consumer spending.

Profits increased 4.6 percent at a quarterly rate in the second quarter after increasing 0.1 percent in the first quarter.

Private goods-producing industries decreased 10.4 percent, private services producing industries increased 2.0 percent, and government decreased 0.2 percent. Overall, 9 of 22 industry groups contributed to the second-quarter decline in real GDP.

  • Current release: September 29, 2022
  • Next release: October 27, 2022

Personal Income and Outlays, August 2022 and Annual Update

August 2022
July 2022

Personal income increased $71.6 billion, or 0.3 percent at a monthly rate, while consumer spending increased $67.5 billion, or 0.4 percent, in August. The increase in personal income primarily reflected increases in compensation and proprietors’ income. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 3.5 percent in August, the same rate as in July.

  • Current release: September 30, 2022
  • Next release: October 28, 2022

Industry Economic Accounts

International Economic Accounts

U.S. International Transactions, Second Quarter 2022

Q2 2022
Q1 2022

The U.S. current-account deficit narrowed by $31.5 billion, or 11.1 percent, to $251.1 billion in the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised first-quarter deficit was $282.5 billion. The second-quarter deficit was 4.0 percent of current-dollar gross domestic product, down from 4.6 percent in the first quarter.

  • Current Release: September 22, 2022
  • Next Release: December 21, 2022

U.S. International Investment Position, 2nd Quarter 2022

End of 2nd quarter 2022:
-$16.31 trillion
End of 1st quarter 2022:
-$17.75 trillion

The U.S. net international investment position (IIP), the difference between U.S. residents’ foreign financial assets and liabilities, was -$16.31 trillion at the end of the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $30.98 trillion, and liabilities were $47.29 trillion. At the end of the first quarter, the net investment position was -$17.75 trillion.

  • Current Release: September 28, 2022
  • Next Release: December 29, 2022

U.S. International Trade in Goods and Services, August 2022

August 2022
-$67.4 B
July 2022
-$70.5 B

The U.S. monthly international trade deficit decreased in August 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $70.5 billion in July (revised) to $67.4 billion in August, as imports decreased more than exports. The previously published July deficit was $70.6 billion. The goods deficit decreased $3.4 billion in August to $87.6 billion. The services surplus decreased $0.4 billion in August to $20.2 billion.

  • Current Release: October 5, 2022
  • Next release: November 3, 2022

New Foreign Direct Investment in the United States, 2021

New Investment by Foreign Direct Investors:
$333.6 billion (preliminary)

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $333.6 billion (preliminary) in 2021.

  • Current release: July 6, 2022
  • Next release: July 2023

Regional Economic Accounts

Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2022

Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022, with the percent change in real GDP ranging from 1.8 percent in Texas to –4.8 percent in Wyoming.

  • Current Release: September 30, 2022
  • Next Release: December 23, 2022

Personal Income by County and Metropolitan Area, 2020

In 2020, personal income increased in 3,040 counties, decreased in 69, and was unchanged in 3. Personal income increased 6.4 percent in the metropolitan portion of the United States and increased 7.6 percent in the nonmetropolitan portion. Personal income estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted “stay-at-home” orders. The full economic effects of the COVID-19 pandemic cannot be quantified in the local area personal income estimates, because the impacts are generally embedded in source data and cannot be separately identified.

  • Current Release: November 16, 2021
  • Next Release: November 16, 2022

Personal Consumption Expenditures by State, 2020

US PCE growth

State personal consumption expenditures (PCE) decreased 2.6 percent in 2020 after increasing 3.7 percent in 2019. The percent change in PCE across all 50 states and the District of Columbia ranged from 1.2 percent in Idaho and Utah to –5.8 percent in the District of Columbia.

  • Current Release: October 8, 2021
  • Next release: October 6, 2022