Archive for the 'BEA News' Category

Gross Domestic Product by Industry: Fourth Quarter 2017

Durable goods manufacturing; construction; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2017. Overall, 16 of 22 industry groups contributed to the 2.9 percent increase in real GDP in the fourth quarter.

Real GDP April18

  • Durable goods manufacturing increased 7.2 percent in the fourth quarter, after increasing 7.5 percent in the third quarter.
  • Construction increased 8.5 percent, after decreasing 1.2 percent.
  • Professional, scientific, and technical services increased 4.2 percent, after increasing 2.7 percent.

Value Added by Industry April 18

For more information, read the full report.

February 2018 Trade Gap is $57.6 Billion

The U.S. monthly international trade deficit increased in February 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $56.7 billion in January (revised) to $57.6 billion in February, as imports increased more than exports. The previously published January deficit was $56.6 billion. The goods deficit increased $0.3 billion in February to $77.0 billion. The services surplus decreased $0.6 billion in February to $19.4 billion.

trade-feb-2018.png

Exports
Exports of goods and services increased $3.5 billion, or 1.7 percent, in February to $204.4 billion. Exports of goods increased $3.0 billion and exports of services increased $0.5 billion.

  • The increase in exports of goods mostly reflected increases in industrial supplies and materials ($2.0 billion), in automotive vehicles, parts, and engines ($0.9 billion), and in capital goods ($0.7 billion). A decrease in consumer goods ($0.8 billion) partly offset the increases.
  • The increase in exports of services mostly reflected increases in transport ($0.2), in travel (for all purposes including education) ($0.1 billion), and in charges for the use of intellectual property ($0.1 billion).

Imports
Imports of goods and services increased $4.4 billion, or 1.7 percent, in February to $262.0 billion. Imports of goods increased $3.3 billion and imports of services increased $1.1 billion.

  • The increase in imports of goods mostly reflected increases in capital goods ($1.8 billion), in industrial supplies and materials ($0.8 billion), and in foods, feeds, & beverages ($0.8 billion).
  • The increase in imports of services mostly reflected an increase in charges for the use of intellectual property ($1.0 billion), which included payments for the rights to broadcast the 2018 Winter Olympic Games.

For more information, read the full report.

U.S. Net International Investment Position Decreased in Fourth Quarter

The U.S. net international investment position decreased to −$7,845.8 billion (preliminary) at the end of the fourth quarter from −$7,739.7 billion (revised) at the end of the third quarter. The $106.1 billion decrease reflected net financial transactions of –$52.4 billion and net other changes in position, such as price and exchange-rate changes, of –$53.8 billion.

iip-Q4-2017-blog

  • The net investment position decreased 1.4 percent in the fourth quarter, compared with an increase of 3.3 percent in the third quarter. The net investment position decreased an average of 5.0 percent per quarter from the first quarter of 2011 through the second quarter of 2017.
  • U.S. assets increased $727.2 billion to $27,632.8 billion, mostly reflecting increases in portfolio investment and direct investment assets due to increases in foreign equity prices.
  • U.S. liabilities increased $833.3 billion to $35,478.6 billion, mostly reflecting increases in portfolio investment and direct investment liabilities due to increases in U.S. equity prices.

For more information, read the full report.


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