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Report on the State-by-state Economic Impact of Arts and Culture Coming April 19

A new report on the state-by-state economic impact of arts and cultural production will be released Wednesday, April 19, at 10 a.m. Eastern time by the Bureau of Economic Analysis.

The report will provide – for the first time ever – state-level information on employment and employee compensation in the arts and culture sector, covering the years 2001-2014.

The report will also provide new statistics on the contribution of arts and cultural production to the U.S. economy during 2014, along with revised national statistics for 2012-2013. The report is part of the Arts and Cultural Production Satellite Account, which is supported by funding from the National Endowment for the Arts.

The Arts and Cultural Production Satellite Account is part of a series of BEA satellite accounts that complement BEA’s core industry economic accounts. These satellite accounts focus on specific industries, such as travel and tourism, and provide data users with more detailed economic information, a useful tool for analysis.

February 2017 Trade Gap is $43.6 Billion

The U.S. monthly international trade deficit decreased in February 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $48.2 billion in January (revised) to $43.6 billion in February, as exports increased and imports decreased. The previously published January deficit was $48.5 billion. The goods deficit decreased $4.6 billion in February to $65.0 billion. The services surplus increased less than $0.1 billion in February to $21.4 billion.

Balance on Goods and Services Trade April 4

Exports
Exports of goods and services increased $0.4 billion, or 0.2 percent, in February to $192.9 billion. Exports of goods increased $0.4 billion and exports of services increased less than $0.1 billion.

  • The increase in exports of goods mostly reflected increases in consumer goods ($0.7 billion), in other goods ($0.5 billion), and in industrial supplies and materials ($0.4 billion). Decreases in foods, feeds, and beverages ($0.7 billion) and in capital goods ($0.6 billion) were partly offsetting.
  • The increase in exports of services reflected nearly offsetting changes of $0.1 billion or less in all categories.

Imports
Imports of goods and services decreased $4.3 billion, or 1.8 percent, in February to $236.4 billion. Imports of goods decreased $4.2 billion and imports of services decreased less than $0.1 billion.

  • The decrease in imports of goods mostly reflected decreases in consumer goods ($3.1 billion) and in automotive vehicles, parts, and engines ($2.6 billion). An increase in industrial supplies and materials ($1.4 billion) was partly offsetting.
  • The decrease in imports of services reflected nearly offsetting changes of $0.1 billion or less in all categories.

For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services: February 2017.

For more information, read the full report.

Real Disposable Personal Income Rises in February

Personal income increased 0.4 percent in February after increasing 0.5 percent in January.Personal Income Chart March 31
Wages and salaries, the largest component of personal income, increased 0.5 percent in February after increasing 0.4 percent in January.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in February after increasing 0.4 percent in January.

Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in February after decreasing 0.1 percent in January.

Real consumer spending (PCE), spending adjusted for price changes, decreased 0.1 percent in February after decreasing 0.2 percent in January. Spending on durable goods decreased 0.1 percent in February after decreasing 1.1 percent in January.

PCE prices increased 0.1 percent in February after increasing 0.4 percent in January. Excluding food and energy, PCE prices increased 0.2 percent in February after increasing 0.3 percent in January.

Personal saving rate
Personal saving as a percent of DPI was 5.6 percent in February and 5.4 percent in January.

For more information, read the full report.

Personal Income Graph March 31


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