Archive for the 'BEA News' Category



Gross Domestic Product by Industry: Second Quarter 2016 Annual Update: 2013 through First Quarter 2016

Transportation and warehousing; health care and social assistance; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the second quarter of 2016. Overall, 15 of 22 industry groups contributed to the 1.4 percent increase in real GDP in the second quarter.

real-gdp-sector-11-3

  • Transportation and warehousing increased 14.0 percent in the second quarter, after decreasing 6.7 percent in the first quarter.
  • Health care and social assistance increased 4.7 percent, after decreasing 1.6 percent.
  • Professional, scientific, and technical services increased 3.7 percent, after increasing 3.4 percent.

real-value-added-by-industry-nov-3

For more information, read the full report.

BEA Releases New Batch of Health Care Statistics

doctor-medical-medicine-health-42273The Bureau of Economic Analysis released a fresh set of statistics Wednesday detailing how much the United States spends to treat different diseases and medical conditions.

The numbers, which cover 2013, offer new insights into health care, which accounts for more than 17 percent of the U.S. economy.

Here are some of the findings:

  • Spending per person and the average expenditure to treat medical conditions (i.e., the price of treatment) each grew at the rate of 1.9 percent in 2013 from 2012. This growth rate is lower than the historic averages over the 2000 to 2012 period, when per person spending grew at an average annual rate of 5.4 percent and the expenditure per treatment grew at a rate of 4.3 percent.
  • The price of treating digestive conditions, such as abdominal hernia and appendicitis, grew at the fastest pace in 2013, increasing at a 6.9 percent rate. (That’s 1 percent faster than average rate logged from 2000 to 2012.)
  • The price of treating mental illness grew at the slowest pace, rising just 0.5 percent in 2013. (That’s 2 percent slower than the average rate from 2000-2012.)
  • The top three spending disease categories in 2013 were: symptoms, including check-ups, and some preventative services; circulatory; and musculoskeletal. These were also the top three spending categories in 2012.
  • Of those three disease categories, the symptoms category, which also includes allergies and flu-like symptoms, topped growth in spending by increasing $13.5 billion between 2012 and 2013. That was followed by the musculoskeletal category at $7.9 billion in growth. Circulatory spending came in at $240 million.

The statistics are part of BEA’s Health Care Satellite Account, created in 2015, to offer a new way of looking at health care spending.  This data project breaks out spending by the treatment of disease, such as circulatory diseases or cancers, rather than by place of service, such as hospital or doctor’s office.

The statistics cited in this blog come from BEA’s “Blended Account,” which combines data from multiple sources, including large claims databases, covering millions of enrollees and billions of claims.  The newly released statistics, along with information about BEA’s Health Care Satellite Account, are available on our public website.

Consumer Spending Rises in September

Personal income increased 0.3 percent in September after increasing 0.2 percent inconsumer-spending-charrt-oct-31
August. Wages and salaries, the largest component of personal income, increased 0.3 percent in September after increasing 0.1 percent in August.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in September after increasing 0.2 percent in August.

Real DPI, income adjusted for taxes and inflation, remained flat in September—the same as in August.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.3 percent in September after decreasing 0.2 percent in August. Spending on durable goods increased 1.8 percent in September after decreasing 1.9 percent in August.

PCE prices increased 0.2 percent in September—the same increase as in August. Excluding food and energy, PCE prices increased 0.1 percent in September after increasing 0.2 percent in August.

Personal saving rate
Personal saving as a percent of DPI was 5.7 percent in September and 5.8 percent in August.

real-disposable-personal-income-oct-31

For more information, read the full report.


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