Posts Tagged 'BEA'



GDP Increases in Third Quarter

Real gross domestic product (GDP) increased 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent.

GDP highlightsQ2Q GDP 1029
The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services increased, notably on health care. Spending on nondurable and durable goods also rose.

State and local government spending, business investment, exports, and residential investment also contributed to the increase in GDP.

Partly offsetting these contributions to GDP growth, private inventory investment fell, mainly in wholesale trade and in manufacturing.

Final sales of domestic product—GDP less inventory investment—increased 3.0 percent in the third quarter.

Personal income and saving
Real disposable personal income (DPI), which adjusts for taxes and inflation, rose 3.5 percent in the third quarter after increasing 1.2 percent in the second quarter.

Personal saving as a percentage of DPI was 4.7 percent in the third quarter, following 4.6 percent in the second quarter.

PricesQ2Q PERCENT 1029
Prices of goods and services purchased by U.S. residents—gross domestic purchases prices— increased 1.3 percent in the third quarter after increasing 1.5 percent in the second quarter.

Prices of energy goods and services turned down in the third quarter, while food prices turned up.

Excluding food and energy, gross domestic purchases prices increased 1.3 percent in the third quarter after increasing 1.2 percent in the second quarter.

For more information, read the full report.

Coming Soon: Webinar for BE-180 Survey Respondents

The Bureau of Economic Analysis (BEA) will be conducting an informational webinar on Thursday, October 22, at 1 p.m., to discuss the BE-180 Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign persons. Topics of discussion will include:

  • How the BE-180 survey data are used
  • An overview of the basic reporting requirements and due dates
  • Understanding transactions with foreign persons
  • Non-reportable transactions
  • Specific reporting examples
  • An overview of BEA’s eFile system

To register, please go to this site and provide the required information.

A Q&A period will follow.  To help us anticipate and address questions as thoroughly as possible, attendees are encouraged to submit questions in advance to be-180help@bea.gov.

For additional information regarding the BE-180 survey, please visit this section on BEA’s Web site.

August 2015 Trade Gap is $48.3 Billion

The U.S. monthly international trade deficit increased in August 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $41.8 billion in July (revised) to $48.3 billion in August, as exports decreased and imports increased. The previously published July deficit was $41.9 billion. The goods deficit increased $6.6 billion from July to $67.9 billion in August. The services surplus increased $0.1 billion from July to $19.6 billion in August.

balance on goods and services oct 6

Exports
Exports of goods and services decreased $3.7 billion, or 2.0 percent, in August to $185.1 billion. Exports of goods decreased $4.1 billion and exports of services increased $0.4 billion.

  • The decrease in exports of goods mainly reflected a decrease in industrial supplies and materials ($2.2 billion).
  • The increase in exports of services mainly reflected increases in financial services ($0.1 billion) and in travel (for all purposes including education) ($0.1 billion).

Imports
Imports of goods and services increased $2.8 billion, or 1.2 percent, in August to $233.4 billion. Imports of goods increased $2.5 billion and imports of services increased $0.3 billion.

  • The increase in imports of goods mainly reflected an increase in consumer goods ($4.0 billion).
  • The increase in imports of services mainly reflected increases in travel (for all purposes including education) ($0.2 billion) and in transport ($0.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (seasonally adjusted, Census basis)

  • The deficit with China increased from $28.8 billion in July to $32.9 billion in August. Exports decreased $0.6 billion to $9.8 billion and imports increased $3.6 billion to $42.8 billion.
  • The deficit with the European Union increased from $12.4 billion in July to $14.5 billion in August. Exports decreased $0.7 billion to $21.7 billion and imports increased $1.4 billion to $36.2 billion.
  • The deficit with Saudi Arabia decreased from $0.5 billion in July to less than $0.1 billion in August. Exports increased less than $0.1 billion to $1.8 billion and imports decreased $0.4 billion to $1.8 billion.

For more information, read the full report.