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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.
In 2022, real gross domestic product increased in 1,780 counties, decreased in 1,296 counties, and was unchanged in 38 counties. The percent change in real GDP ranged from 71.1 percent in Chouteau County, MT, to –57.6 percent in Kiowa County, CO.
In 2022, real gross domestic product (GDP) increased in 1,780 counties, decreased in 1,296 counties, and was unchanged in 38 counties. The percent change in real GDP ranged from 71.1 percent in Chouteau County, MT, to -57.6 percent in Kiowa County, CO.
The U.S. goods and services trade deficit increased from $61.2 billion in September (revised) to $64.3 billion in October, as exports decreased and imports increased. The goods deficit increased $3.5 billion to $89.8 billion, and the services surplus increased $0.4 billion to $25.5 billion.
The U.S. monthly international trade deficit increased in October 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $61.2 billion in September (revised) to $64.3 billion in October as exports decreased and imports increased. The goods deficit increased $3.5 billion in October to $89.8 billion. The services surplus increased $0.4 billion in October to $25.5 billion.
Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 8.7 percent in Wyoming to –1.9 percent in Vermont.
Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 8.7 percent in Wyoming to –1.9 percent in Vermont.
Today’s release presents estimates of gross domestic product (GDP) by industry and related measures for the second quarter of 2023, as well as revised quarterly estimates for the first quarter of 2018 through the first quarter of 2023 as part of the comprehensive update of the National Economic Accounts (NEAs).
Second Quarter 2023
In the second quarter, the value added of private goods-producing industries increased 7.7 percent, private services-producing industries increased 1.0 percent, and government increased 1.0 percent. Overall, 13 of 22 industry groups contributed to the 2.1 percent increase in second-quarter real GDP.
Personal income increased $57.1 billion (0.2 percent at a monthly rate) in October. Disposable personal income —personal income less personal current taxes—increased $63.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $43.8 billion (0.2 percent) and consumer spending increased $41.2 billion (0.2 percent). Personal saving was $…
Personal income increased $57.1 billion (0.2 percent at a monthly rate) in October. Disposable personal income (DPI)—personal income less personal current taxes—increased $63.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $43.8 billion (0.2 percent) and consumer spending increased $41.2 billion (0.2 percent). Personal…
