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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).
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…
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.
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.
The U.S. goods and services trade deficit increased from $73.0 billion in June (revised) to $78.8 billion in July, as imports increased more than exports. The goods deficit increased $5.6 billion to $103.1 billion, and the services surplus decreased $0.2 billion to $24.3 billion.
