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The travel and tourism industry—as measured by the real output of goods and services sold directly to visitors— increased 7.0 percent in 2023 after increasing 20.8 percent in 2022, according to the most recent statistics from BEA’s Travel and Tourism Satellite Account.
Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the fourth quarter of 2023, according to the “third” estimate. In the third quarter, real GDP increased 4.9 percent. The increase in the fourth quarter primarily reflected increases in consumer spending and state and local government spending that were partly offset by a decrease in inventory investment. Imports, which are a subtraction in the calculation of GDP,…
Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the fourth quarter of 2023, according to the “third” estimate. In the third quarter, real GDP increased 4.9 percent. The increase in the fourth quarter primarily reflected increases in consumer spending, state and local government spending, exports, nonresidential fixed investment, federal government spending, and residential fixed investment that were partly offset…
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$19.77 trillion at the end of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $34.54 trillion, and liabilities were $54.31 trillion. At the end of 2022, the net investment position was –$16.17 trillion.
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$19.77 trillion at the end of the fourth quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $34.54 trillion, and liabilities were $54.31 trillion. At the end of the third quarter, the net investment position was –$18.11 trillion.
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was -$19.77 trillion at the end of the fourth quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $34.54 trillion, and liabilities were $54.31 trillion. At the end of the third quarter, the net investment position was -$18.11 trillion (revised).
Arts and cultural economic activity, adjusted for inflation, increased 4.8 percent in 2022 after increasing 10.8 percent in 2021, according to statistics released today by the Bureau of Economic Analysis. By comparison, the broader economy, as measured by real gross domestic product, increased 1.9 percent in 2022 after increasing 5.8 percent in 2021.
Arts and cultural economic activity accounted for 4.3 percent of GDP, or $1.10…
The Arts and Cultural Production Satellite Account released today by the U.S. Bureau of Economic Analysis (BEA) shows that arts and cultural economic activity, adjusted for inflation, increased 4.8 percent in 2022 after increasing 10.8 percent in 2021. By comparison, the broader economy, as measured by real gross domestic product (GDP), increased 1.9 percent in 2022 after increasing 5.8 percent in 2021. Arts and cultural economic activity…
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, narrowed by $152.8 billion, or 15.7 percent, to $818.8 billion in 2023. The narrowing mostly reflected a reduced deficit on goods. The 2023 deficit was 3.0 percent of current-dollar gross domestic product, down from 3.8 percent in 2022.
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, narrowed by $1.6 billion, or 0.8 percent, to $194.8 billion in the fourth quarter of 2023. The narrowing primarily reflected a reduced deficit on secondary income that was mostly offset by an expanded deficit on goods. The fourth-quarter deficit was 2.8 percent of…
The U.S. current-account deficit narrowed by $1.6 billion, or 0.8 percent, to $194.8 billion in the fourth quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised third-quarter deficit was $196.4 billion. The fourth-quarter deficit was 2.8 percent of current-dollar gross domestic product, down less than 0.1 percent from the third quarter.
