The BEA Wire | BEA's Official Blog

Real gross domestic product (GDP) increased in 43 states and the District of Columbia in the first quarter of 2017, according to statistics on the geographic breakout of GDP released today by the U.S. Bureau of Economic Analysis.

Detailed statistics on U.S.

Real estate and rental and leasing; mining; and durable goods manufacturing were the leading contributors to the increase in U.S. economic growth in the first quarter of 2017. Overall, 13 of 22 industry groups contributed to the 1.4 percent increase in real GDP in the first quarter.

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses were $373.4 billion in 2016, down $66.2 billion, or 15 percent, from $439.6 billion in 2015.

The annual update of gross domestic product is coming soon. As it does every summer, the Bureau of Economic Analysis will revisit its earlier GDP estimates and other national data and make some changes. Does that mean the older numbers were wrong?

No, and here’s why:

A notice in the Federal Register on June 26 opened a 30-day period for public comment about the first-of-its-kind Outdoor Recreation Satellite Account.

The project is a collaboration with the Federal Recreation Council, a group of seven agencies that are prominent stewards of public lands and waters. It was authorized by the Outdoor Recreation Jobs and Impact Act of 2016.

The U.S. monthly international trade deficit decreased in May 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.6 billion in April (revised) to $46.5 billion in May, as exports increased and imports decreased.

The U.S. net international investment position increased to −$8,141.2 billion (preliminary) at the end of the first quarter of 2017 from −$8,318.4 billion (revised) at the end of the fourth quarter of 2016.*

Personal income increased 0.4 percent in May after increasing 0.3 percent in April. Personal dividend income increased 4.8 percent in May after increasing 0.4 percent in April.

Real gross domestic product (GDP) increased 1.4 percent in the first quarter of 2017, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.2 percentage point higher than the “second” estimate released last month.

Errata: The numbers in this blog no longer stand.

The U.S. net international investment position decreased to −$8,318.4 billion (revised) at the end of 2016 from −$7,493.5 billion (revised) at the end of 2015.