The BEA Wire | BEA's Official Blog
U.S. Current-Account Deficit Widens in 3rd 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 $35.9 billion, or 13.1 percent, to $310.9 billion in the third quarter of 2024. The widening reflected expanded deficits on secondary income, on primary income, and on goods. The third-quarter deficit was 4.2 percent of current-dollar gross domestic product,…
Trust Regulation Effective Today: Delivering Better Data and Evidence for the American Public
For over 100 years, our nation’s statistical system has delivered trusted, high-quality statistics that drive government, business, and household decisions. Over that time, BEA and other statistical agencies have evolved with and adapted to our ever-changing economy. Today, we celebrate another step in that evolution with the publication of the “Trust Regulation.”
How Do Prices Where I Live Compare With Other Parts of the Country?
A blog post from BEA Director Vipin Arora
An old boss of mine was fond of a BEA product that many of our users don’t know about—regional price parities (RPPs). He said regional price parities are BEA’s most underappreciated statistic. While I love all our products equally—just like I love all my kids equally—I can’t help but agree that the RPPs are a gem that sometimes gets overlooked. I hope you won’t overlook the new RPP data coming…
October 2024 Trade Gap is $73.8 Billion
The U.S. goods and services trade deficit decreased from $83.8 billion in September (revised) to $73.8 billion in October, as imports decreased more than exports. The goods deficit decreased $10.4 billion to $98.7 billion, and the services surplus decreased $0.4 billion to $24.8 billion.
Personal Income and Outlays, October 2024
Personal income increased $147.4 billion (0.6 percent at a monthly rate) in October. Disposable personal income (DPI)—personal income less personal current taxes—increased $144.1 billion (0.7 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $69.8 billion (0.3 percent) and consumer spending increased $72.3 billion (0.4 percent). Personal…
Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Third Quarter 2024
Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the “second” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, federal government spending, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.
Activities of U.S Affiliates of Foreign Multinational Enterprises, 2022
Majority-owned U.S. affiliates of foreign multinational enterprises employed 8.35 million workers in the United States in 2022, a 6.8 percent increase from 7.82 million workers in 2021, according to the U.S. Bureau of Economic Analysis. These affiliates accounted for 6.2 percent of total private-industry employment in the United States in 2022.
September 2024 Trade Gap is $84.4 Billion
The U.S. goods and services trade deficit increased from $70.8 billion in August (revised) to $84.4 billion in September, as exports decreased and imports increased. The goods deficit increased $14.2 billion to $109.0 billion, and the services surplus increased $0.6 billion to $24.6 billion.
Personal Income and Outlays, September 2024
Personal income increased $71.6 billion (0.3 percent at a monthly rate) in September. Disposable personal income (DPI)—personal income less personal current taxes—increased $57.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $106.3 billion (0.5 percent) and consumer spending increased $105.8 billion (0.5 percent). Personal…
Gross Domestic Product, Third Quarter 2024 (Advance)
Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the “advance” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
August 2024 Trade Gap is $70.4 Billion
The U.S. goods and services trade deficit decreased from $78.9 billion in July (revised) to $70.4 billion in August, as exports increased and imports decreased. The goods deficit decreased $8.4 billion to $94.9 billion, and the services surplus increased $0.1 billion to $24.4 billion.
Personal Income and Outlays, August 2024
Personal income increased $50.5 billion (0.2 percent at a monthly rate) in August. Disposable personal income —personal income less personal current taxes— increased $34.2 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $48.3 billion (0.2 percent) and consumer spending increased $47.2 billion (0.2 percent). Personal saving was $1…