Home > Overview of the U.S. Economy: Perspective from the BEA Accounts

Overview of the U.S. Economy: 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)
Current Numbers:
    • 1st quarter 2008: +1.0 percent
    • 4th quarter 2007: +0.6 percent
Next release: July 31, 2008
Quarterly data: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.0 percent in the first quarter of 2008 (that is, from the fourth quarter to the first quarter), according to final estimates released by the Bureau of Economic Analysis.

Personal Income
Current Numbers:
  • May 2008: +1.9 percent (personal income)
  • April 2008: +0.3 percent (personal income)
Next release: August 4, 2008
Monthly data: In May 2008, real disposable personal income increased 5.3 percent.

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Industry Economic Accounts:

Annual Industry Accounts: GDP by Industry
Annual Data: A downturn in the finance and insurance industry group accounted for nearly half of the slowdown in economic growth in 2007, according to preliminary statistics on industry contributions to real gross domestic product (GDP) growth.
Annual Growth in Real GDP
Graph of Annual Percent Changes in Real Value Added
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Annual Percent Changes in Value-Added Price Indexes
Graph of Annual Percent Changes in Chain-type Price Indexes for Value Added
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International Economic Accounts:

U.S. Balance of Payments (International Transactions)
Current Account Balance:
  • 1st quarter 2008: -$176.4 billion
  • 4th quarter 2007: -$167.2 billion
Next release: September 17, 2008
Quarterly data: The U.S. current-account deficit increased to $176.4 billion (preliminary) in the first quarter of 2008 from $167.2 billion (revised) in the fourth quarter of 2007.
Quarterly Data Graph of U.S. Current-Account Transactions
Quarterly Data
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International Investment Position
Annual data: The U.S. net international investment position at yearend 2007 was -$2,441.8 billion (preliminary), as the value of foreign investments in the United States exceeded the value of U.S. investments abroad.

International Trade in Goods and Services
Trade Balance:
  • May 2008: -$59.8 billion
  • April 2008: -$60.5 billion
Next release: August 12, 2008
Monthly data: Total May exports of $157.5 billion and imports of $217.3 billion resulted in a goods and services deficit of $59.8 billion. (Joint release with the U.S. Census Bureau)

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Regional Economic Accounts:

Gross Domestic Product (GDP) by State
Next release: June 2009
Annual data: New estimates released today by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. in 2007. Real GDP growth slowed in 36 states, with declines in construction and finance and insurance restraining growth in many states. Nationally, real economic growth slowed from 3.1 percent in 2006 to 2.0 percent in 2007, one percentage point below the average growth of 3.0 percent for 2002-2006.

Gross Domestic Product (GDP) by Metropolitan Area
Next release: Fall 2008
Annual data: Today, the U.S. Bureau of Economic Analysis released experimental measures of economic output produced in the Nation’s metropolitan areas. In 2005, metropolitan areas produced 90 percent of U.S. GDP

State Personal Income (SPI)
Next release: September 18, 2008
Quarterly data: U.S. personal income grew 1.1 percent in the first quarter of 2008, after growing 1.2 percent in the last quarter of 2007.

State Per Capita Personal Income
Next release: September 18, 2008
Annual data: U.S. per capita income grew 5.2 percent in 2007, down from 5.6 percent in 2006, but equal to the average of the last four years (2004-07).

Metropolitan Area Personal Income
Annual data: Personal income growth accelerated in 2006 in most of the nation’s metropolitan statistical areas.

Local Area Personal Income
Annual data: The percent change from 2005 to 2006 in county personal income ranged from 648 percent in St. Bernard Parish, Louisiana to -43 percent in Slope County, North Dakota.

County Estimates of Compensation by Industry, 2004-2006
Annual data: The Bureau of Economic Analysis released county estimates of compensation by industry for 2004-2006.

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Last updated: Friday, July 11, 2008
Bureau of Economic Analysis is an agency of the U.S. Department of Commerce.
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