Archive for the 'BEA News' Category



GDP Increases in Second Quarter

Real gross domestic product (GDP) increased 1.2 percent in the second quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent (revised).

GDP highlightsGDP July 29
The second‐quarter increase in real GDP was more than accounted for by an increase in consumer spending. Spending on both nondurable and durable goods increased, as did spending on services, notably on housing and utilities and on health care.

The increase in consumer spending was partly offset by a decline in inventory investment. In fact, GDP less inventory investment (real final sales of domestic product) increased 2.4 percent in the second quarter.

Also partly offsetting contributions to real GDP growth, business investment declined, reflecting declines in structures and in equipment, and housing investment decreased.

Personal income and saving
Real disposable personal income—personal income adjusted for taxes and inflation—increased 1.2 percent in the second quarter after increasing 2.2 percent in the first quarter. Personal saving as a percent of disposable personal income was 5.5 percent in the second quarter, compared with 6.1 percent in the first quarter.

Annual update
BEA also released its 2016 annual update of the national income and product accounts, which updated most components from the first quarter of 2013 to the first quarter of 2016 based on newly available and revised source data. From the fourth quarter of 2012 to the first quarter of 2016, real GDP increased at an annual average rate of 2.2 percent, the same as previously published. For more information, see the technical note.

First‐quarter prices GDP2 July 29
Prices of goods and services purchased by U.S. residents increased 2.0 percent in the second quarter of 2016, after increasing 0.2 percent in the first quarter.

Food prices decreased in the second quarter, while energy prices increased.

Excluding food and energy, prices increased 1.9 percent in the second quarter, compared with an increase of 1.4 percent in the first quarter.

For more information, read the full report.

Gross Domestic Product by State: First Quarter 2016

Real gross domestic product (GDP) increased in 37 states and the District of Columbia in the first quarter of 2016, according to statistics on the geographic breakout of GDP released today by the Bureau of Economic Analysis.  Real GDP by state growth, at an annual rate, ranged from 3.9 percent in Arkansas   to –11.4 percent in North Dakota.  Construction; health care and social assistance; and retail trade were the leading contributors to U.S. economic growth in the first quarter.

GDP by State July 27

  • Construction grew 9.0 percent in the first quarter of 2016—the eighth consecutive quarter of growth for this industry.  This industry contributed to growth in 47 states and the District of Columbia and 1.1 percentage points to the 1.7 percent growth in real GDP in Hawaii.
  • Health care and social assistance grew 3.8 percent in the first quarter.  This industry contributed to growth in every state and the District of Columbia.
  • Retail trade grew 4.8 percent in the first quarter.  This industry contributed to growth in 47 states and the District of Columbia and 0.59 percentage point to the 3.9 percent growth in Washington.

For more information, read the full report.

Detailed Direct Investment Data for 2015 Now Available

Detailed statistics on U.S. direct investment abroad – or “outward direct investment”– and on foreign direct investment in the United States – or “inward direct investment” – are now available on BEA’s website.

Preliminary direct investment statistics are available for 2015 and revised statistics for 2013 – 2014 for outward direct investment and 2012 – 2014 for inward direct investment. These data are now incorporated into the Bureau of Economic Analysis’ data tool, International Trade and Investment Country Facts, as well as BEA’s interactive data tables.

These newly released statistics include data on direct investment for selected countries by major industry on financial transactions, equity, debt instruments, reinvestment of earnings, and income. Statistics are also now available for positions, financial transactions, and income for all countries and for all industries. For inward direct investment, supplementary statistics classified by country of the ultimate beneficial owner are also now available.

In addition to these statistics, another batch of data, previously only available each September in the Survey of Current Business, is now available on our website.   This batch includes data on reinvestment ratios and rates of return for both outward and inward direct investment. BEA will still publish these data in a Survey of Current Business article in September.

These new data on direct investment provide vital information to answer questions such as:  Where do U.S. companies invest abroad? And which countries invest in the United States?

The map below shows the level of direct investment by U.S. multinationals in foreign countries. This series is based on the country of the immediate investment, or the first step in the ownership chain outside of the United States.

Outward Direct Investment July 25

The next map shows the level of foreign direct investment in the United States by foreign multinationals. This series is based on the country of immediate investor, or the first step in the ownership chain outside of the United States. Information on the level of investment by the ultimate owner level (which is the entity who ultimately benefits from the investment) also available in BEA’s interactive data tables.

Inward Direct Investment July 25

The maps shown above can be found in the July 2016 Survey of Current Business article summarizing the 2015 direct investment positions.


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