September 09, 2024

BEA’s Annual Update of GDP Statistics Starts September 26

National and industry statistics for the previous five years will be updated Sept. 26 as part of BEA’s regular annual updates to GDP and related estimates. Updates to state and local statistics will begin Sept. 27.

Annual updates enable BEA to refine our estimates by incorporating more complete source data as they become available.

Principal Federal Economic Indicators

Gross Domestic Product
Q2 2024 (2nd)
+3.0%
Personal Income
July 2024
+0.3%
International Trade in Goods and Services
July 2024
-$78.8 B
International Transactions
Q1 2024
-$237.6 B

Noteworthy

The BEA Wire | BEA's Official Blog

A Historical Look at BEA’s Price Measures

September 16, 2024

A blog from BEA Director Vipin Arora

BEA’s price index for personal consumption expenditures—the PCE price index—gets a lot of attention when it’s released every month. For good reason: the Federal Reserve and policymakers around the world rely on it as a key inflation gauge.

BEA’s Annual Update of GDP Statistics Starts Sept. 26

September 9, 2024

National and industry statistics for the previous five years will be updated Sept. 26 as part of BEA’s regular annual updates to gross domestic product and related estimates. Updates to state and local statistics will begin Sept. 27.

July 2024 Trade Gap is $78.8 Billion

September 4, 2024

The U.S. goods and services trade deficit increased from $73.0 billion in June (revised) to $78.8 billion in July, as imports increased more than exports. The goods deficit increased $5.6 billion to $103.1 billion, and the services surplus decreased $0.2 billion to $24.3 billion. 

Personal Income and Outlays, July 2024

August 30, 2024

Personal income increased $75.1 billion (0.3 percent at a monthly rate) in July. Disposable personal income (DPI)—personal income less personal current taxes—increased $54.8 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $103.3 billion (0.5 percent) and consumer spending increased $103.8 billion (0.5 percent). Personal saving was $598.8 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 2.9 percent in July. 

Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Second Quarter 2024

August 29, 2024

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the “second” estimate. In the first quarter, real GDP increased 1.4 percent. The GDP estimate for the second quarter was revised up 0.2 percentage point from the “advance” estimate, primarily reflecting an upward revision to consumer spending.