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April 2018 Trade Gap is $46.2 Billion

The U.S. monthly international trade deficit decreased in April 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.2 billion in March (revised) to $46.2 billion in April, as exports increased and imports decreased. The previously published March deficit was $49.0 billion. The goods deficit decreased $1.0 billion in April to $68.3 billion. The services surplus decreased less than $0.1 billion in April to $22.1 billion.

Goods and Services June6

Exports of goods and services increased $0.6 billion, or 0.3 percent, in April to $211.2 billion. Exports of goods increased $0.3 billion and exports of services increased $0.3 billion.

  • The increase in exports of goods mostly reflected increases in industrial supplies and materials ($1.3 billion) and in foods, feeds, and beverages ($0.7 billion). A decrease in capital goods ($1.4 billion) partly offset the increases.
  • 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, in financial services ($0.1 billion), and in charges for the use of intellectual property ($0.1 billion).

Imports of goods and services decreased $0.4 billion, or 0.2 percent, in April to $257.4 billion. Imports of goods decreased $0.7 billion and imports of services increased $0.3 billion.

  • The decrease in imports of goods mostly reflected decreases in consumer goods ($2.8 billion) and in automotive vehicles, parts, and engines ($0.9 billion). Increases in other goods ($1.3 billion) and in industrial supplies and materials ($1.2 billion) partly offset the decreases.
  • The increase in imports of services mostly reflected increases in transport ($0.1 billion), in other business services ($0.1 billion), and in charges for the use of intellectual property ($0.1 billion).

For more information, read the full report.

BEA Releases for the First Time Detailed Data on More than 200 Medical Conditions

The Bureau of Economic Analysis for the first time released statistics that provide information on how much Americans spend to treat more than 200 specific medical conditions, such as acute myocardial infarctions, chronic kidney disease, and osteoarthritis.

The new statistics, which cover the years 2000 through 2014, are part of BEA’s Health Care Satellite Account created in 2015. The project offers a new way of analyzing health care spending by breaking out spending by the treatment of disease, rather than by place of service such as a hospital or doctor’s office.

What’s new with the more detailed release is information for 261 detailed medical conditions as well as 63 broader medical groupings such as heart conditions and hypertension. This infographic lays this out for you.  Until now, spending information was available only for 18 much more expansive categories, such circulatory, musculoskeletal, and respiratory conditions.

The newly available detailed statistics provide researchers and other data users a fresh tool to gain deeper insights into spending patterns to treat different medical conditions. No other official data source regularly produces such statistics at this level of detail.

Here are some findings:

  • Much of the growth in inflation-adjusted health care spending (using the overall PCE price index) is driven by a small number of conditions. Roughly, 30 of the 261 medical conditions accounted for 42 percent of inflation adjusted growth in per capita spending over the 15-year period. Those 30 conditions include hepatitis, diabetes, and osteoarthritis.
  • Aging and obesity, spending on innovative technology, and seeking preventative services played a role in the spending growth for many of the 30 conditions.

More information and analysis is available in a newly published article in the June issue of Health Affairs, a health care journal.

The Health Care Satellite Account provides an alternative view of the health care sector that may lead to a better understanding of health care spending trends and policies. 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.

Real Disposable Personal Income Increases in April

Personal income increased 0.3 percent in April after increasingPI Chart
0.2 percent in March. Wages and salaries, the largest component of personal income, increased 0.4 percent in April after increasing 0.2 percent in March.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in April after increasing 0.2 percent in March.

Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in April, the same increase as in March.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.4 percent in April after increasing 0.5 percent in March. Spending on durable goods increased 0.3 percent in April after increasing 1.9 percent in March.

PCE prices increased 0.2 percent in April after showing no
change in March. Excluding food and energy, PCE prices
increased 0.2 percent in April, the same increase as in March.

Personal saving rate
Personal saving as a percent of DPI was 2.8 percent in April
following 3.0 percent in March.

For more information, read the full report.

PI Spending

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