Posts Tagged 'Bureau of Economic Analysis'



Widespread Growth Across Industries in 2012

Professional and business services; finance, insurance, real estate, rental, and leasing; mining; and manufacturing were the leading contributors to U.S. economic growth in 2012, according to revised statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.gdp_indy1

• Professional, scientific, and technical services increased 4.2 percent in 2012, primarily reflecting strong growth in computer systems design and related services.

• Mining value added rose 14.0 percent in 2012 after increasing 9.9 percent in 2011, reflecting strong growth for oil and gas extraction.

GDP prices modestly decelerated in 2012, increasing 1.7 percent after increasing 2.0 percent in 2011.gdp_indy2

• Value-added prices for the private goods-producing sector decelerated in 2012, increasing 1.8 percent after increasing 6.0 percent in 2011. Mining was the leading contributor to the deceleration in the GDP price index for 2012.

• Value-added prices for the private services-producing sector increased 2.2 percent in 2012 after increasing 1.2 percent in 2011, reflecting accelerated growth in prices for real estate and rental and leasing.

For more, read the full report.

November 2013 Trade Gap is $34.3 Billion

The U.S. monthly international trade deficit decreased in November 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $39.3 billion in October (revised) to $34.3 billion in November as exports increased and imports decreased. The previously published October deficit was $40.6 billion. The goods deficit decreased $4.9 billion from October to $53.9 billion in November; the services surplus increased $0.2 billion from October to $19.7 billion in November.trade17

Exports
Exports of goods and services increased $1.7 billion in November to $194.9 billion, mostly reflecting an increase in exports of goods. Exports of services also increased.
• The increase in exports of goods mostly reflected increases in industrial supplies and materials, in other goods, and in capital goods that were partly offset by a decrease in consumer goods.
• The increase in exports of services mostly reflected increases in travel, in passenger fares, and in royalties and license fees.

Imports
Imports of goods and services decreased $3.4 billion in November to $229.1 billion, reflecting a decrease in imports of goods. Imports of services increased.
• The decrease in imports of goods mostly reflected decreases in industrial supplies and materials and in other goods that were partly offset by increases in automotive vehicles, parts, and engines and in capital goods.
• The increase in imports of services mostly reflected increases in other transportation, which includes freight and port services, and in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services.

Goods by geographic area (not seasonally adjusted)
• The goods deficit with the European Union decreased from $14.3 billion in October to $10.1 billion in November. Exports decreased $0.2 billion to $22.9 billion, and imports decreased $4.4 billion to $33.0 billion.
• The goods deficit with China decreased from $28.9 billion in October to $26.9 billion in November. Exports increased $0.1 billion to $13.2 billion, and imports decreased $1.8 billion to $40.1 billion.
• The goods deficit with Canada decreased from $2.8 billion in October to $1.5 billion in November. Exports decreased $1.3 billion to $25.7 billion, and imports decreased $2.7 billion to $27.1 billion.

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

Value of Both Foreign Investments in the United States and U.S. Investments Abroad Increased in Third Quarter 2013

The U.S. net international investment position was –$4,165.6 billion (preliminary) at the end of the third quarter of 2013 as the value of foreign investments in the United States exceeded the value of U.S. investments abroad. At the end of the second quarter, the net position was –$4,455.0 billion (revised).iip1230

• The $289.5 billion increase in the net position reflected a $621.5 billion increase in the value of U.S.-owned assets abroad that exceeded a $332.1 billion increase in the value of foreign-owned assets in the United States.

• The U.S. net position increased primarily as rising foreign stock prices, as well as the appreciation of foreign currencies relative to the U.S. dollar, increased the value of U.S.-owned assets abroad more than the increase in the value of foreign-owned assets in the United States.

• The U.S. net international investment position increased 6.5 percent in the third quarter compared with a 5.2 percent decrease in the second quarter, and an average quarterly decrease of 7.6 percent from the first quarter of 2011 through the second quarter of 2013.

• U.S.-owned assets abroad were $21,590.9 billion at the end of the third quarter, compared with $20,969.4 billion at the end of the second quarter.

• Foreign-owned assets in the United States were $25,756.5 billion at the end of the third quarter, compared with $25,424.4 billion at the end of the second quarter.

For more on the U.S. net international investment position, read the full report.