Bureau of Economic Analysis

Take a bow, dancers, art teachers, and museum guides: The roles you and others play in the U.S. economy will be in the spotlight March 19.

That’s when the Bureau of Economic Analysis will release its annual statistics on the economic impact of arts and cultural activities. The data will highlight the sector’s contributions to the gross domestic product, or GDP, of the United States, each of the 50 states, and the District of…

The Bureau of Economic Analysis has completed its comprehensive update of state and local area personal income statistics, some reaching back as far as 1929.

Comprehensive, or benchmark, updates are performed approximately every five years. They provide the opportunity to incorporate newly available and revised source data and to introduce improvements in statistical methods. BEA’s full time series are updated to provide consistent…

The U.S. international trade deficit increased in 2018, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $552.3 billion in 2017 to $621.0 billion in 2018, as imports increased more than exports. As a percentage of U.S. gross domestic product, the goods and services deficit was 3.0 percent in 2018, up from 2.8 percent in 2017. The goods deficit increased from $807.5 billion in 2017 to $…

The U.S. monthly international trade deficit increased in December 2018, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $50.3 billion in November (revised) to $59.8 billion in December, as imports increased and exports decreased. The previously published November deficit was $49.3 billion. The goods deficit increased $9.0 billion in December to $81.5 billion. The services surplus…

The U.S. monthly international trade deficit increased in December 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $50.3 billion in November (revised) to $59.8 billion in December, as imports increased and exports decreased. The previously published November deficit was $49.3 billion. The goods deficit increased $9.0 billion in December to $81.5 billion. The services surplus decreased…

The Bureau of Economic Analysis plans to produce new economic data for Puerto Rico this year that could lay the groundwork for later estimating the island’s gross domestic product.

BEA plans to develop and publish later this year estimates for specific components that would feed into Puerto Rico’s GDP, such as consumer spending, business investment, and trade in goods. Estimates for these components will cover 2012 through 2017 and…

Personal income decreased 0.1 percent in January after increasing 1.0 percent in December, the largest increase since December 2012. Wages and salaries, the largest component of personal income, increased 0.3 percent in January after increasing 0.5 percent in December.

Statistics on consumer spending in January, also known as personal consumption expenditures, have been rescheduled for release March 29 because of the effects of the temporary lapse in federal funding.

The U.S. Bureau of Economic Analysis typically releases each month’s personal income and spending data together in the Personal Income and Outlays report. However, because of delays in the availability of some source data, the schedule…

Real gross domestic product (GDP) increased 2.6 percent in the fourth quarter of 2018, according to the “initial” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.4 percent.

Fourth-quarter GDP highlights The increase in real GDP reflected increases in consumer spending, business investment, exports, and inventory investment.

Real gross domestic product (GDP) increased 2.6 percent in the fourth quarter of 2018, according to the “initial” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.4 percent.