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Gross Domestic Product (GDP) by State: Third Quarter 2017

GDP by State Jan24

  • Real gross domestic product (GDP) increased in every state and the District of Columbia in the third quarter of 2017. Real GDP by state growth in the third quarter ranged from 5.7 percent in Delaware to 0.5 percent in South Dakota.
  • For the nation, 17 of 21 industry groups increased in the third quarter. Finance and insurance, durable goods manufacturing, and information services were the leading contributors to national economic growth.
  • Finance and insurance increased 14.7 percent nationally and contributed to growth in every state and the District of Columbia. This industry was the leading contributor to growth in seven of the ten fastest growing states, including Delaware—the fastest growing state.

For more information, read the full report.

Gross Domestic Product by Industry: Third Quarter 2017

Finance and insurance; durable goods manufacturing; and information services were the leading contributors to the increase in U.S. economic growth in the third quarter of 2017. Overall, 18 of 22 industry groups contributed to the 3.2 percent increase in real GDP in the third quarter.

GDP by Ind2

  • Finance and insurance increased 14.7 percent in the third quarter, after decreasing 6.6 percent in the second quarter.
  • Durable goods manufacturing increased 7.5 percent, after increasing 2.9 percent.
  • Information services increased 9.0 percent, after increasing 7.0 percent.

Value Added2

For more information, read the full report.

November 2017 Trade Gap is $50.5 Billion

The U.S. monthly international trade deficit increased in November 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased
from $48.9 billion in October (revised) to $50.5 billion in November, as imports increased
more than exports. The previously published October deficit was $48.7 billion.  The goods deficit increased $1.7 billion in November to $70.9 billion. The services surplus
increased $0.1 billion in November to $20.4 billion.
 trad1117_fax
Exports
Exports of goods and services increased $4.4 billion, or 2.3 percent, in November to
$200.2 billion.Exports of goods increased $4.4 billion and exports of services increased $
0.1 billion.
• The increase in exports of goods mostly reflected increases in capital goods ($2.5
billion), in automotive vehicles, parts, and engines ($ 1.0 billion), and in consumer goods
($0.7 billion).
• The increase in exports of services mostly reflected increases in other business services
($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, and in financial
services ($0.1 billion). A decrease in maintenance and repair services ($0.1 billion)

partly offset the increases.

Imports
Imports of goods and services increased $6.0 billion, or 2.5 percent, in November to $250.7 billion.  Imports of goods increased $6.0 billion and imports of services decreased less than $0.1 billion.
• The increase in imports of goods mostly reflected increases in consumer goods ($2.4 billion), in industrial supplies and materials ($2.2 billion), and in capital goods ($1.6 billion).
• The decrease in imports of services mostly reflected a decrease in transport ($0.2 billion). Increases in travel (for all purposes including education) ($0.1 billion) and in
charges for the use of intellectual property ($0.1 billion) partly offset the decrease.
For more information, read the full report.

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