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The U.S. Bureau of Economic Analysis on Feb. 14 will release for the first time prototype statistics measuring the economic effects of outdoor recreation – pursuits like boating, RVing and snowboarding.
These prototype statistics covering 2012-2016 will be available in a news release and data tables posted on BEA’s website at 8:30 a.m. Eastern time.
Personal income increased 0.4 percent in December after increasing 0.3 percent in November. Wages and salaries, the largest component of personal income, increased 0.5 percent in December after increasing 0.4 percent in November.
Real gross domestic product (GDP) increased 2.6 percent in the fourth quarter of 2017, according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.
Real gross domestic product (GDP) increased in every state and the District of Columbia in the third quarter of 2017. Real GDP by state growth in the third quarter ranged from 5.7 percent in Delaware to 0.5 percent in South Dakota.
Finance and insurance; durable goods manufacturing; and information services were the leading contributors to the increase in U.S. economic growth in the third quarter of 2017. Overall, 18 of 22 industry groups contributed to the 3.2 percent increase in real GDP in the third quarter.
The U.S. monthly international trade deficit increased in November 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $48.9 billion in October (revised) to $50.5 billion in November, as imports increased more than exports.
The U.S. net international investment position increased to −$7,768.7 billion (preliminary) at the end of the third quarter from −$8,004.1 billion (revised) at the end of the second quarter.
As we charge into 2018, it’s a fitting time to remember innovations over the past year that advanced the Bureau of Economic Analysis’ quest to produce the most accurate, timely, and objective statistics that promote better understanding of the nation’s economy.
Personal income increased 0.3 percent in November after increasing 0.4 percent in October. Wages and salaries, the largest component of personal income, increased 0.4 percent in November after increasing 0.2 percent in October.
Real gross domestic product (GDP) increased 3.2 percent in the third quarter of 2017, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point less than the “second” estimate released in November. In the second quarter of 2017, real GDP increased 3.1 percent.
State personal income increased 0.7 percent on average in the third quarter of 2017. In the second quarter, state personal income increased 0.6 percent.
The U.S. current-account deficit decreased to $100.6 billion (preliminary) in the third quarter of 2017 from $124.4 billion (revised) in the second quarter of 2017. As a percentage of U.S. GDP, the deficit decreased to 2.1 percent from 2.6 percent.