Archive for the 'U.S. Bureau of Economic Analysis' Category

Finance and Insurance Led Growth in the Fourth Quarter

Finance and insurance; retail trade; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2016. Overall, 19 of 22 industry groups contributed to the 2.1 percent increase in real GDP in the fourth quarter.

GDP By industry April 21 2017

  • Finance and insurance increased 6.3 percent in the fourth quarter, after increasing 9.0 percent in the third quarter.
  • Retail trade increased 5.7 percent, after increasing 2.6 percent.
  • Professional, scientific, and technical services increased 3.6 percent, after increasing 2.6 percent.

Real Value Added by Industry April 21 2017

For more information, read the full report.

BEA’s API Expands Access to International Services Trade Data

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More good news for developers and other “power users” of BEA data: The most detailed data on U.S. international trade in services published by the Bureau of Economic Analysis are now accessible through our application programming interface, or API. This includes detailed annual statistics on U.S. trade in services by type of service for 90 countries and areas, including new estimates of trade related to information and communications technology. Previously, only the more aggregated trade in services statistics released as part of the U.S. international transactions accounts were available through BEA’s API.

The new API dataset is named “IntlServTrade.” The statistics in this dataset correspond to data on trade in services presented in tables 1.1 through 3.3 of the International Services data available through BEA’s interactive data application. Data presented in International Services tables 4.1 through 5.4 on services supplied through affiliates of multinational enterprises are not included in this API dataset. Appendix M, under the DataSet Reference section in the API User Guide, provides a short description and example API calls for this new dataset.

BEA’s API provides developers and analysts a mechanism to search, display, analyze, retrieve, or view BEA statistics. For example, researchers can use BEA’s International Services data along with services trade data from other countries to make international comparisons of trade in services. Or developers may design a new tool to visualize BEA’s economic data. The API includes methods for retrieving subsets of BEA statistical data and their meta-data using HTTPS requests. It delivers data in two industry-standard formats: XML (Extensible Markup Language) and JSON (JavaScript Object Notation).

To use the API, you need to register first. Full documentation is available in the API User Guide.

BEA’s API is just one way BEA is supporting open data. Visit BEA’s Open Data site for a complete listing of BEA’s datasets in a machine readable JSON format, along with access to downloadable datasets and other data tools.

Consumer Spending Rises in November

Personal income was unchanged in November after increasing 0.5 percent in October.consumer-spending-chart-dec-22 Wages and salaries, the largest component of personal income, decreased 0.1 percent in November after increasing 0.5 percent in October.

Current-dollar disposable personal income (DPI), after-tax income, was unchanged in November after increasing 0.5 percent in October.

Real DPI, income adjusted for taxes and inflation, decreased 0.1 percent in November after increasing 0.2 percent in October.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in November—the same increase as in October. Spending on durable goods decreased 0.1 percent in November after increasing 1.1 percent in October.

PCE prices were unchanged in November after increasing 0.3 percent in October. Excluding food and energy, PCE prices were unchanged in November after increasing 0.1 percent in October.

Personal saving rate
Personal saving as a percent of DPI was 5.5 percent in November and 5.7 percent in October.

For more information, read the full report.



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