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New Census Mobile App to Feature BEA Data

Published August 9, 2012 BEA News Leave a Comment
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Want to keep tabs on the latest gross domestic product data while waiting for lunch? A new mobile app from the Census Bureau puts live access to key economic indicators at your fingertips. It’s the perfect tool for geeking out on the go.

The America’s Economy app, available today for Android smartphones in the Google Play Store, combines real-time access to 16 closely watched economic indicators from the Bureau of Economic Analysis, the Bureau of Labor Statistics (BLS), and the Census Bureau. Among the indicators available through the app are gross domestic product, consumer spending, disposable personal income, and the U.S. international trade balance.

This is the first mobile app to feature real-time statistics from the three primary U.S. economic statistical agencies. With the ability to review recent economic trends, browse upcoming data releases, and set alerts for key indicators, this app allows you to keep up with the U.S. economy anywhere you go.

America’s Economy features three data series from the Bureau of Economic Analysis:
• Gross domestic product
• Personal income and outlays
• International trade in goods and services (joint release with Census)

Other featured indicators include:
• Advance monthly retail sales (Census)
• New residential construction (Census)
• New residential sales (Census)
• Construction spending (Census)
• Advance report durable goods (Census)
• Business inventories (Census)
• Manufacturers’ goods (Census)
• Monthly wholesale (Census)
• Homeownership rate (Census)
• Quarterly Services Survey (Census)
• Quarterly financial report—retail trade (Census)
• Quarterly financial report—manufacturing (Census)
• Unemployment rate (BLS)

Looking for even more data? Check out the Federal Reserve Bank of St. Louis’ FRED (Federal Reserve Economic Database) app, the mobile version of the bank’s signature database. The FRED mobile app provides access to nearly 42,000 data economic series from 38 regional, national, and economic sources. It is available for Android and iPhone.

June Trade Gap is $42.9 Billion

Published August 9, 2012 BEA News , Trade Deficit , Trade in Goods and Services Leave a Comment
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The U.S. monthly international trade deficit decreased in June 2012, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $48.0 billion (revised) in May to $42.9 billion in June, as exports increased and imports decreased. The previously published May deficit was $48.7 billion. The goods deficit decreased $5.4 billion from May to $57.5 billion in June, and the services surplus decreased $0.3 billion to $14.6 billion.

Exports of goods and services increased $1.7 billion in June to $185.0 billion, reflecting an increase in exports of goods. Exports of services decreased.

The increase in exports of goods was more than accounted for by increases in consumer goods; automotive vehicles, parts, and engines; and industrial supplies and materials. A decrease in foods, feeds, and beverages was partly offsetting.

The decrease in exports of services was mostly accounted for by decreases in other private services, which includes items such as business, professional, and technical services; insurance services; and financial services, and other transportation, which includes freight and port services. Changes in the other categories of services exports were small. 

Imports of goods and services decreased $3.5 billion in June to $227.9 billion, reflecting a decrease in imports of goods. Imports of services increased.

The decrease in imports of goods was more than accounted for by decreases in industrial supplies and materials, capital goods, and consumer goods. An increase in automotive vehicles, parts, and engines was partly offsetting.

The increase in imports of services was mostly accounted for by an increase in passenger fares. Changes in the other categories of services imports were small.

Goods by geographic area (not seasonally adjusted)
The goods deficit with Japan decreased from $6.4 billion in May to $6.0 billion in June. Exports increased $0.3 billion to $6.0 billion, while imports decreased $0.2 billion to $11.9 billion.

The goods deficit with China increased from $26.0 billion in May to $27.4 billion in June. Exports decreased $0.4 billion to $8.5 billion, while imports increased $1.0 billion to $35.9 billion.

The goods deficit with the European Union decreased from $10.5 billion in May to $8.4 billion in June. Exports increased $0.4 billion to $23.3 billion, while imports decreased $1.7 billion to $31.7 billion.

To learn more about U.S. international trade in goods and services, read the full report.

 

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