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Travel and Tourism Satellite Account: Fourth Quarter 2016

Real spending (output) on travel and tourism turned down in the fourth quarter of 2016, decreasing at an annual rate of 3.3 percent after increasing 3.7 percent (revised) in the third quarter according to new statistics released by the Bureau of Economic Analysis.

Real Tourism Spending March 15

Prices for travel and tourism goods and services accelerated in the fourth quarter of 2016, increasing 9.1 percent following an increase of less than 0.01 percent (revised) in the third quarter.

Employment in the travel and tourism industries decelerated in the fourth quarter, increasing 0.7 percent after increasing 1.6 percent (revised) in the third quarter.

For more information, read the full report.

January 2017 Trade Gap is $48.5 Billion

U.S. international trade in goods and services

The U.S. monthly international trade deficit increased in January 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $44.3 billion in December (revised) to $48.5 billion in January, as imports increased more than exports. The previously published December deficit was $44.3 billion. The goods deficit increased $4.0 billion in January to $69.7 billion. The services surplus decreased $0.3 billion in January to $21.2 billion.

balance-on-goods-and-services-trade-jan-2007-jan-2017

Exports

Exports of goods and services increased $1.1 billion, or 0.6 percent, in January to $192.1 billion. Exports of goods increased $1.1 billion and exports of services decreased less than $0.1 billion.

  • The increase in exports of goods mostly reflected increases in industrial supplies and materials ($2.1 billion) and in automotive vehicles, parts, and engines ($1.3 billion). A decrease in capital goods ($1.9 billion) was partly offsetting.
  • The decrease in exports of services reflected nearly offsetting changes of $0.1 billion or less in all categories.

Imports

Imports of goods and services increased $5.3 billion, or 2.3 percent, in January to $240.6 billion. Imports of goods increased $5.1 billion and imports of services increased $0.2 billion.

  • The increase in imports of goods mostly reflected increases in consumer goods ($2.4 billion), in industrial supplies and materials ($1.0 billion), and in automotive vehicles, parts, and engines ($0.9 billion).
  • The increase in imports of services mostly reflected an increase in transport ($0.2 billion), which includes freight and port services and passenger fares.

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: January 2017.

Real Consumer Spending Falls in January

Personal income increased 0.4 percent in January after increasing 0.3 percent in pce-chart-march-1December. Wages and salaries, the largest component of personal income, increased 0.4 percent in January, the same increase as in December.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in January, the same increase as in December.

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

Real consumer spending (PCE), spending adjusted for price changes, decreased 0.3 percent in January after increasing 0.3 percent in December. Spending on durable goods decreased 0.8 percent in January after increasing 1.8 percent in December.

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

Personal saving rate
Personal saving as a percent of DPI was 5.5 percent in January and 5.4 percent in December.

For more information, read the full report.

real-dpi-march-1


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