Real GDP increased 3.1 percent in the second quarter, reflecting positive contributions from consumer spending, nonresidential fixed investment, exports, federal government spending, and inventory investment.
Once a year, BEA prepares federal government estimates that are based on the proposed budget of the U.S. government. This analysis is often used to gauge the effects of the federal budget on U.S. economic activity.
The net international investment position increased $156.7 billion to –$7,934.9 billion at the end of the second quarter of 2017 from –$8,091.6 billion at the end of the first quarter of 2017.
The current-account deficit increased $9.6 billion to $123.1 billion. In the financial account, net U.S. borrowing increased $19.0 billion to $112.5 billion.
In 2016, the U.S. surplus on the trade in services was $247.7 billion. In 2015, services supplied to foreign markets by the foreign affiliates of U.S. multinational enterprises exceeded services supplied to U.S. markets by the U.S. affiliates of foreign multinational enterprises.
Real GDP increased in 267 of the nation's 382 metropolitan areas in 2016. Growth ranged from 8.l percent in Lake Charles, LA, and Bend-Redmond, OR, to –13.3 percent in Odessa, TX.
Updated Summary of NIPA Methodologies. Updated source data and methods used to prepare current-dollar and real gross domestic product and current-dollar gross domestic income.