Real GDP decreased 0.2 percent after increasing 2.2 percent in the fourth quarter of 2014. The decrease primarily reflected negative contributions from exports, business investment, and state and local government spending.
The net international investment position was –$7,019.7 billion at the end of 2014, compared with –$5,327.5 billion at the end of 2013. At the end of the first quarter of 2015, the net position was –$6,794.0 billion.
The estimates of financial-account flows in these accounts, which are based on Treasury Department data, are adjusted to align the estimates with balance-of-payments concepts and to close gaps in coverage..
In 2013, the change in real personal income ranged from 3.5 percent in Iowa to –4.4 percent in North Dakota. In metropolitan areas, the change in personal income ranged from 4.8 percent in Sioux City, IA-NE-SD, to –3.1 percent in New Bern, NC.
State personal income growth slowed in 25 states in the first quarter of 2015 and accelerated in 15 states. Personal income declined in four states. On average, personal income grew 0.9 percent in the first quarter, compared with 1.1 percent in the fourth quarter of 2014.
Real GDP by state increased in 48 states and the District of Columbia and in all eight regions in 2014. Texas was the fastest growing state at 5.2 percent. The Southwest region was the fastest growing region at 4.3 percent.