Archive for the 'BEA News' Category



BEA to Release 2013 Metro-Area GDP Statistics Sept. 16

Statistics on the 2013 economic performance of the nation’s 381 metropolitan areas will be released Tuesday, Sept. 16 at 8:30 a.m. EDT by the U.S. Bureau of Economic Analysis (BEA).

The release will also include revised statistics for the years 2001-2012, along with maps of the eight BEA economic regions and a table detailing the contributions of thirteen principal industries to the economic growth of each area. The news release, containing hyperlinks to the maps and data tables, will be forwarded to you.

Gross domestic product by metropolitan area is the metro-area counterpart to national GDP and represents the value of the goods and services produced in a metropolitan area.

 

Brian Moyer Named New BEA Director

Moyer

Brian Moyer was named Director of the Bureau of Economic Analysis, bringing more than 20 years of experience in economic statistics to the post. His new status as Director takes effect Sept. 21.

Dr. Moyer is currently BEA’s Deputy Director and has served as Acting Director since May 2 when the agency’s previous chief retired.

The non-partisan BEA is one of the federal government’s leading economic intelligence agencies and produces millions of official economic data points – national, regional, industry and international – used by business leaders, policymakers and Americans to make more informed decisions.

Dr. Moyer joined BEA, which is part of the U.S. Commerce Department, in 1993 and held several key positions including Associate Director for Industry Accounts.

Under his leadership, BEA has made numerous advances in measuring and gauging the performance of the U.S. economy, including new measures of intangible and high-tech goods and services, expanded information on multinational companies and foreign direct investment, and more timely GDP statistics for states, metropolitan area and industries. Dr. Moyer has also played a key role in developing and improving international standards and guidelines used to prepare economic statistics worldwide.

“With the challenges facing BEA in the coming years – things like greater use of ‘big data’ and more integration across the U.S. statistical agencies – I am pleased to have Brian leading BEA,” said Mark Doms, Under Secretary for Economic Affairs at the U.S. Commerce Department.

Dr. Moyer holds Bachelor’s and Master’s degrees in economics from the University of Maryland and a Ph.D in economics from American University.

Real Consumer Spending Falls in July

Personal Income rose 0.2 percent in July after rising 0.5 percent in June. Wages and salaries, the largest component of personal income, rose 0.2 percent in July after rising 0.4 percent in June. PCE stat

Current-dollar disposable personal income (DPI), after-tax income rose 0.1 percent in July after rising 0.5 percent in June.

Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in July after increasing 0.3 percent in June.

Real consumer spending, spending adjusted for price changes, decreased 0.2 percent in July after increasing 0.2 percent in June. Spending on durable goods decreased 0.6 percent in July after increasing 0.5 percent in June.

PCE prices increased 0.1 percent in July after increasing 0.2 percent in June. Excluding food and energy, PCE prices increased 0.1 percent in July, the same as in June.

Personal saving
Personal saving as a percent of DPI was 5.7 percent in July and 5.4 percent in June.

Read the full report.

Real Disposable Personal Income and Real Consumer Spending