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, 1st Quarter 2020 (Third Estimate); Corporate Profits, 1st Quarter 2020 (Revised Estimate)

1st quarter 2020
-5.0 percent
4th quarter 2019
2.1 percent

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. The decline is the same as in the “second” estimate released in May. In the fourth quarter of 2019, real GDP increased 2.1 percent.

  • Current release: June 25, 2020
  • Next release: July 30, 2020
 

Personal Income and Outlays: May 2020

May 2020:
-4.2 percent (personal income)
April 2020:
10.8 percent (personal income)

Personal income decreased 4.2 percent while consumer spending increased 8.2 percent in May, according to estimates released today by the Bureau of Economic Analysis.

  • Current release: June 26, 2020
  • Next release: July 31, 2020

Industry Economic Accounts

Gross Domestic Product by Industry, 1st Quarter 2020

Accommodation and food services; finance and insurance; and health care and social assistance industries were the leading contributors to the 5.0 percent (annual rate) decrease in gross domestic product (GDP) in the first quarter of 2020.

Attention
BEA is speeding up the release of its industry and state GDP statistics to coordinate more closely with the quarterly estimates of national GDP. Starting Sept. 30, industry GDP statistics will be issued on the same day – and in the same news release – as the third estimate of national GDP.
  • Current Release: July 6, 2020
  • Next Release: September 30, 2020
 

International Economic Accounts

U.S. International Transactions, First Quarter 2020 and Annual Update

1st quarter 2020:
-$104.2 billion
4th quarter 2019:
-$104.3 billion

The U.S. current account deficit narrowed by $0.1 billion, or 0.1 percent, to $104.2 billion in the first quarter of 2020, according to statistics from the U.S. Bureau of Economic Analysis. The revised fourth quarter deficit was $104.3 billion. The first quarter deficit was 1.9 percent of current dollar gross domestic product, up less than 0.1 percentage point from the fourth quarter.

Attention
The June 19, 2020, release institutes new standard tables and improvements to previous tables. For a description of the changes, see Prototype Tables for the International Transactions Accounts.
  • Current Release: June 19, 2020
  • Next Release:  September 18, 2020
 

U.S. International Investment Position, First Quarter 2020, Year 2019, and Annual Update

End of 1st quarter 2020:
-$12.06 trillion
End of 4th quarter 2019:
-$11.05 trillion
End of year 2019:
-$11.05 trillion
End of year 2018:
-$9.67 trillion

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$12.06 trillion at the end of the first quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $26.77 trillion and liabilities were $38.82 trillion. At the end of the fourth quarter of 2019, the net investment position was –$11.05 trillion.

Attention
The June 30, 2020 release institutes improved standard IIP tables. For a description of the changes, see “Preview of the 2020 Annual Update of the International Economic Accounts” in the April 2020 issue of the Survey of Current Business and “Blog: Table Changes Coming With Annual Update of International Statistics."
  • Current Release: June 30, 2020
  • Next Release: September 29, 2020

U.S. International Trade in Goods and Services, May 2020

May 2020:
-$54.6 billion
April 2020:
-$49.8 billion

The U.S. monthly international trade deficit increased in May 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $49.8 billion in April (revised) to $54.6 billion in May, as exports decreased more than imports. The previously published April deficit was $49.4 billion. The goods deficit increased $4.2 billion in May to $76.1 billion. The services surplus decreased $0.6 billion in May to $21.5 billion.

  • Current Release: July 2, 2020
  • Next release: August 5, 2020
 

New Foreign Direct Investment in the United States, 2019

New Investment by Foreign Direct Investors:
$194.7 billion (preliminary)

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $194.7 billion in 2019, down 37.7 percent from $312.5 billion in 2018.

  • Current release: July 1, 2020
  • Next release: July 2021

Regional Economic Accounts

Gross Domestic Product by State, 1st Quarter 2020

Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia in the first quarter of 2020. The percent change in real GDP in the first quarter ranged from –1.3 percent in Nebraska to –8.2 percent in New York and Nevada.

Attention
BEA is speeding up the release of its industry and state GDP statistics to coordinate more closely with the quarterly estimates of national GDP. Starting Oct. 2, state-by-state GDP statistics will follow within two days of the third estimate of national GDP.
  • Current Release:July 7, 2020
  • Next Release:October 2, 2020

Personal Income by State, 1st Quarter 2020

State personal income increased 2.3 percent at an annual rate in the first quarter of 2020, a deceleration from the 3.6 percent increase in the fourth quarter of 2019. The percent change in personal income across all states ranged from 4.9 percent in New Mexico to -0.3 percent in Michigan.

  • Current Release: June 23, 2020
  • Next Release: September 24, 2020

Real Personal Income by State and Metropolitan Area, 2018

Real state personal income grew 3.4 percent in 2018, after increasing 2.9 percent in 2017, according to estimates released today by the Bureau of Economic Analysis.  Real state personal income is a state’s current-dollar personal income adjusted by the state’s regional price parity and the national personal consumption expenditures price index.  The percent change in real state personal income ranged from 6.7 percent in Wyoming to 0.9 percent in Mississippi. Across metropolitan areas, the percent change ranged from 15.6 percent in Midland, TX to -1.1 percent in Sebring-Avon Park, FL.

  • Current Release: May 18, 2020
  • Next release: December 15, 2020

Personal Consumption Expenditures by State, 2018

Average State PCE Growth (2018)
5.1%

State personal consumption expenditures (PCE) increased 5.1 percent in 2018, an acceleration from the 4.4 percent increase in 2017. The percent change in PCE across all states ranged from 7.3 percent in Utah to 3.6 percent in West Virginia.

  • Current Release: October 3, 2019
  • Next release: October 8, 2020