> U.S. Economy at a Glance: Perspective from the BEA Accounts
U.S. Economy at a Glance: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 (GDP)
- 3rd quarter 2017: 3.3 percent
- 2nd quarter 2017: 3.1 percent
December 21, 2017
Real gross domestic product (GDP) increased at an annual rate of 3.3 percent in the third quarter of 2017 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent.
- October 2017: 0.4 percent (personal income)
- September 2017: 0.4 percent (personal income)
December 22, 2017
In October 2017, real disposable personal income increased 0.3 percent.
Industry Economic Accounts
Quarterly Industry Accounts: GDP by Industry
Mining; professional, scientific, and technical services; and health care and social assistance were the leading contributors to the increase in U.S. economic growth in the second quarter of 2017. According to gross domestic product (GDP) by industry statistics released by the Bureau of Economic Analysis, 17 of 22 industry groups contributed to the overall 3.1 percent increase in real GDP in the second quarter.
International Economic Accounts
U.S. Balance of Payments (International Transactions)
Current Account Balance:
- 2nd quarter 2017: -$123.1 billion
- 1st quarter 2017: -$113.5 billion
December 19, 2017
The U.S. current-account deficit increased $9.6 billion to $123.1 billion (preliminary) in the second quarter of 2017.
International Investment Position
Net International Investment Position at End of Period:
- End of 2nd quarter 2017: -$7,934.9 billion
- End of 1st quarter 2017: -$8,091.6 billion
December 28, 2017
The U.S. net international investment position increased to -$7,934.9 billion (preliminary) at the end of the second quarter of 2017 from -$8,091.6 billion (revised) at the end of the first quarter, according to statistics released today by the Bureau of Economic Analysis (BEA).
International Trade in Goods and Services
- October 2017: -$48.7 billion
- September 2017: -$44.9 billion
January 5, 2018
Total October exports of $195.9 billion and imports of $244.6 billion resulted in a goods and services deficit of $48.7 billion.
New Foreign Direct Investment in the United States
Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $373.4 billion in 2016. Spending was down 15 percent from $439.6 billion in 2015, but was above the annual average of $350.0 billion for 2014-2015, and was well above the annual average of $226.0 billion for 2006-2008. As in previous years, expenditures to acquire existing businesses accounted for a large majority of the total.
Regional Economic Accounts
Gross Domestic Product (GDP) by State
January 24, 2018
Real GDP increased in 48 states and the District of Columbia in the second quarter of 2017. Real GDP by state growth ranged from 8.3 percent in North Dakota to -0.7 percent in Iowa.
Gross Domestic Product (GDP) by Metropolitan Area
Real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016. Real GDP by metropolitan area growth ranged from 8.1 percent in Lake Charles, LA and Bend-Redmond, OR to –13.3 percent in Odessa, TX. Real GDP for U.S. metropolitan areas grew 1.7 percent in 2016, led by growth in professional and business services; information services; and finance, insurance, real estate, rental, and leasing.
State Personal Income (SPI)
December 20, 2017
State personal income grew 0.7 percent on average in the second quarter of 2017, after increasing 1.4 percent in the first quarter. Each of the major aggregates of personal income—net earnings, property income, and personal current transfer receipts—grew more slowly than in the first quarter.
Local Area Personal Income
May 17, 2018
Local area data:
Personal income grew in 2016 in 2,285 counties, fell in 795, and was unchanged in 33. On average, personal income rose 2.5 percent in 2016 in the metropolitan portion of the United States and rose 1.0 percent in the nonmetropolitan portion. Personal income growth in 2016 ranged from -40.8 percent in Kenedy County, Texas to 27.1 percent in Tillman County, Oklahoma.
Local Area Data
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Real Personal Income for States and Metropolitan Areas
State and Metropolitan area data:
Real state personal income grew on average 4.1 percent in 2015, after increasing 3.6 percent in 2014. Growth of real state personal income ranged from -2.3 percent in North Dakota to 7.0 percent in Delaware. Across metropolitan areas, growth ranged from -10.1 percent in Midland, TX to 9.9 percent in Carson City, NV.
Personal Consumption Expenditures by State
State personal consumption expenditures (PCE) grew on average 4.0 percent in 2016, the same rate as in 2015. In 2016, PCE growth ranged from 0.2 percent in North Dakota to 6.2 percent in Utah.