Bureau of Economic Analysis

Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2024 and Annual Update

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the “third” estimate. In the first quarter, real GDP increased 1.6 percent (revised). The second-quarter increase in real GDP was the same as previously estimated in the “second” estimate released in August. 

U.S. International Investment Position, 2nd Quarter 2024

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$22.52 trillion at the end of the second quarter of 2024, according to statistics released today by the Bureau of Economic Analysis. Assets totaled $36.00 trillion, and liabilities were $58.52 trillion. At the end of the first quarter, the net investment position was –$21.29 trillion (revised). 

U.S. Current-Account Deficit Widens in 2nd Quarter 2024

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $25.8 billion, or 10.7 percent, to $266.8 billion in the second quarter of 2024. The widening mostly reflected an expanded deficit on goods. The second-quarter deficit was 3.7 percent of current-dollar gross domestic product, up from 3.4 percent in the first quarter. 

A Historical Look at BEA’s Price Measures

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

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.