Archive for the 'BEA News' Category

May 31st Deadline for Returning Completed Foreign Direct Investment Surveys Draws Near

Published May 17, 2013 BEA News Leave a Comment
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The May 31st deadline is rapidly approaching for people to return their completed BE–12 surveys to the U.S. Bureau of Economic Analysis.

These surveys are critical to BEA’s ability to produce statistics on foreign direct investment in the United States. The statistics help policymakers and the general public understand the impact of foreign investment on the U.S. economy.

Therefore, it is vitally important that you waste no time in filling out your survey and getting it to us by the May 31 deadline.

We have a set of resources available to help you on our public Web site at www.bea.gov. From the front page, just click on the tab located on the left-hand side of the screen for information concerning eFile users and BE–12 respondents. Or just click on this link: www.bea.gov/surveys/respondent_be12_be15.htm.  From there, you will find:
• A series of online video tutorials that walk you through everything from setting up an eFile password and navigating the eFile system to answering questions on foreign ownership and selecting the appropriate industry classification code.
• A list of frequently asked questions—and their answers—about the various surveys.
• Guides to which survey you need to fill out as well as help sorting through the industry classification system.
• A link to our eFile system.
• PDF versions of the forms and instructions.
•  Contact information for additional assistance. You can call 202–606–5615 or email us at be12/15@bea.gov to connect with one of BEA’s survey experts.

efile

March 2013 Trade Gap is $38.8 Billion

Published May 2, 2013 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 March 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $43.6 billion (revised) in February to $38.8 billion in March as imports decreased more than exports. The previously published February deficit was $43.0 billion. The goods deficit decreased $4.6 billion from February to $56.1 billion in March; the services surplus increased $0.2 billion from February to $17.3 billion.trade_march

Exports
Exports of goods and services decreased $1.7 billion in March to $184.3 billion reflecting a decrease in exports of goods. Exports of services increased.
• The decrease in exports of goods reflected decreases in nearly all major categories. The largest decrease was in foods, feeds, and beverages.
• The increase in exports of services reflected increases in several categories. The largest increase was in travel.

Imports
Imports of goods and services decreased $6.5 billion in March to $223.1 billion mostly reflecting a decrease in imports of goods. Imports of services also decreased.
• The decrease in imports of goods reflected decreases in most major categories. The largest decrease was in consumer goods.
• The decrease in imports of services was more than accounted for by a decrease in other transportation, which includes freight and port services; increases in travel and passenger fares largely offset this decrease.

Goods by geographic area (not seasonally adjusted)
• The goods deficit with Canada decreased from $2.5 billion in February to $2.3 billion in March. Exports increased $2.8 billion to $26.0 billion, while imports increased $2.6 billion to $28.3 billion.
• The goods deficit with China decreased from $23.4 billion in February to $17.9 billion in March. Exports increased $0.1 billion to $9.4 billion, while imports decreased $5.4 billion to $27.3 billion.
• The goods deficit with Mexico increased from $4.3 billion in February to $5.3 billion in March. Exports increased $0.3 billion to $18.0 billion, while imports increased $1.3 billion to $23.2 billion.

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

Real Consumer Spending Increased in March

Published April 29, 2013 BEA News , Personal Income Leave a Comment
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pi_1Personal income increased 0.2 percent in March after increasing 1.1 percent in February. Wages and salaries, the largest component of personal income, increased 0.2 percent in March after increasing 0.7 percent in February. Wages for services industries’ slowed, while wages for goods industries turned down slightly.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.2 percent in March after increasing 1.1 percent in February.

Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in March after increasing 0.7 percent in February.

Real consumer spending, spending adjusted for price changes, increased 0.3 percent in March, the same increase as in February. Purchases of durable goods turned down slightly.

PCE prices decreased 0.1 percent in March after increasing 0.4 percent in February. Excluding food and energy, the PCE price index remained flat in March after increasing 0.1 percent in February.

pi_2Personal saving rate
Personal saving as a percent of DPI was 2.7 percent in March, the same as in February.

To learn more about personal income and outlays, read the full report.

GDP Growth Picks Up in the First Quarter

Published April 26, 2013 BEA News , GDP Leave a Comment
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Real gross domestic product (GDP) accelerated in the first quarter of 2013, increasing 2.5 percent after increasing 0.4 percent in the fourth quarter of 2012, according to estimates released by the Bureau of Economic Analysis.gdp_1

First-quarter highlights
The pick up in real GDP growth was largely accounted for by a rebound in inventory investment, mainly reflecting an upturn in manufacturing and a smaller decrease in wholesale trade. Farm inventory investment also picked up. In addition, consumer spending accelerated, primarily reflecting a pick up in spending for services (mainly household utilities), and exports rebounded, mainly due to upturns in foods, feeds, and beverages and in nonautomotive capital goods.

In contrast, imports turned up, reflecting in part an upturn in nonpetroleum industrial supplies and materials. Also, business investment slowed, reflecting a slowdown in equipment and software (mainly in information processing) and a downturn in structures.

Personal income and personal savinggdp_2
Real disposable personal income, which adjusts for inflation and taxes, fell 5.3 percent in the first quarter after rising 6.2 percent in the fourth quarter. The change reflected the following:
• A downturn in dividend payments, after companies accelerated payments to the fourth quarter.
• An acceleration in contributions for social insurance, which are subtracted when calculating personal income, due to the expiration of the “payroll tax holiday.”
The personal saving rate—saving as a percent of disposable personal income—was 2.6 percent in the first quarter, compared with 4.7 percent in the fourth quarter.

Prices
Prices of goods and services purchased by U.S. residents slowed in the first quarter, increasing 1.1 percent after increasing 1.6 percent in the fourth quarter of 2012.

Energy prices turned down, and food prices slowed slightly. Prices less food and energy increased 1.3 percent after increasing 1.2 percent.

For more on GDP, read the full report.

Durable-Goods Manufacturing Led Growth in 2012

Published April 25, 2013 BEA News , GDP by Industry Leave a Comment
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gdp_indy1Durable-goods manufacturing, finance and insurance, and wholesale trade services were the leading contributors to U.S. economic growth in 2012, according to advance statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.

  • Manufacturing value added rose 6.2 percent after increasing 2.5 percent in 2011. Durable-goods manufacturing led the growth in 2012, increasing 9.1 percent.
  • The services-producing sector grew 2.4 percent, matching the 2011 growth rate. The leading contributors to the increase were finance and insurance services and wholesale trade services, which increased 3.6 percent and 4.8 percent, respectively.

GDP prices decelerated, increasing 1.8 percent in 2012 after increasing 2.1 percent in 2011.

  • gdp_indy2Value-added prices for the private goods-producing sector decelerated in 2012, increasing 0.9 percent after increasing 5.6 percent in 2011. Nondurable-goods manufacturing was the leading contributor to the deceleration in the GDP price index for 2012.
  • Value-added prices for the private services-producing sector increased 1.7 percent in 2012 after increasing 1.5 percent in 2011, reflecting accelerated growth in prices for finance and insurance and for professional, scientific, and technical services.

To learn more about GDP by industry, read the full report.

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