Published September 25, 2014
The U.S. net international investment position was -$5,445.1 billion (preliminary) at the end of the second quarter of 2014 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the first quarter, the net position was -$5,511.7 billion (revised).
- The $66.6 billion increase in the net position reflected a $913.2 billion increase in the value of U.S. assets and an $846.7 billion increase in the value of U.S. liabilities, mainly from increases in foreign and U.S. equity prices.
- The U.S. net international investment position increased 1.2 percent in the second quarter, compared with a decrease of 2.4 percent in the first quarter and an average quarterly decrease of 7.4 percent from the first quarter of 2011 through the fourth quarter of 2013.
- U.S. assets were $24,933.3 billion at the end of the second quarter compared with $24,020.1 billion at the end of the first quarter.
- U.S. liabilities were $30,378.4 billion at the end of the second quarter compared with $29,531.7 billion at the end of the first quarter.
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Real spending on travel and tourism turned up in the second quarter of 2014, increasing at an annual rate of 2.1 percent after decreasing 1.1 percent (revised) in the first quarter of 2014. Real gross domestic product (GDP) also experienced an upturn, increasing 4.2 percent (second estimate) in the second quarter after decreasing 2.1 percent in the first quarter. All major categories, with the exception of “traveler accommodations” contributed to the increase in the second quarter.
The leading contributors to the upturn in the second quarter were “recreation, entertainment, and shopping,” and “food services and drinking places.” “Recreation, entertainment, and shopping” increased 4.5 percent in the second quarter after decreasing 2.7 percent in the first quarter. “Food services and drinking places” increased 6.5 percent after decreasing 1.8 percent. “Transportation” increased as well, reflecting an upturn in “passenger air transportation” that was partly offset by a downturn “all other transportation-related commodities.” Partially offsetting these upturns, “traveler accommodations” decreased 0.8 percent in the second quarter after increasing 0.6 percent.
Statistics on what Americans and foreigners spent on travel and tourism in the United States in the second quarter of 2014 will be released Thursday, Sept. 18 by the Bureau of Economic Analysis (BEA).
The statistics, part of BEA’s Travel and Tourism Satellite Accounts, provide a breakdown of the various components of travel and tourism spending, including lodging, meals, air travel, and shopping. The statistics will also provide data on employment in the tourism industry.
These statistics, which will be available at 8:30 a.m. eastern time on BEA’s website (www.bea.gov) and by email subscription, can be used for the following purposes:
- To assess the effects of travel and tourism on the U.S. economy
- To compare national trends to locally observed trends
- To examine the relationship among the travel and tourism industries
- To compare travel and tourism industries to other industries.
These statistics are supported by funding from the Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce.