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State Personal Income, Second Quarter 2017

State personal income grew 0.7 percent on average in the second quarter of 2017, after increasing 1.4 percent in the first quarter.

Personal Income Sept 26

  • Personal income grew 1.3 percent in Nevada, faster than in any other state. Utah had the next fastest growth at 1.1 percent. Iowa, Nebraska, and West Virginia had the slowest growth in personal income, with each state growing less than half the rate of the nation.
  • On average, earnings increased 0.8 percent in the second quarter of 2017, after increasing 1.5 percent in the first quarter. Earnings growth ranged from 1.6 percent in Nevada to -0.1 percent in Nebraska.
  • Property income increased 0.8 percent in the second quarter of 2017, down from 1.3 percent in the first quarter.
  • Transfer receipts grew 0.2 percent for the nation in the second quarter of 2017, down from the 1.3 percent growth in the first quarter.

For more information, read the full report.

Gross Domestic Product by Metropolitan Area, 2016

Metro GDP

  • Metropolitan areas accounted for nearly 91.0 percent of national current-dollar GDP in 2016. The ten largest metropolitan areas accounted for 35.2 percent of national GDP in 2016.
  • Real GDP grew in 267 metropolitan areas. Professional and business services; information services; and finance, insurance, real estate, rental, and leasing led growth in 2016.
  • Real GDP growth in the U.S. metropolitan portion slowed to 1.7 percent in 2016 from 2.9 percent in 2015.

For more information, read the full report.

U.S. Current-Account Deficit Increases in Second Quarter 2017

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017. As a percentage of U.S. GDP, the deficit increased to 2.6 percent from 2.4 percent. The previously published current-account deficit for the first quarter was $116.8 billion.

International Investment Sept 19

The deficit on international trade in goods increased to $201.4 billion from $200.6 billion as goods exports decreased and goods imports increased.
• The surplus on international trade in services increased to $64.1 billion from $62.5 billion as services exports increased more than services imports.
• The surplus on primary income decreased to $47.2 billion from $50.1 billion as primary income payments increased more than primary income receipts.
• The deficit on secondary income (current transfers) increased to $33.0 billion from $25.5 billion as secondary income receipts decreased and secondary income payments increased.

Net U.S. borrowing from financial-account transactions was $112.5 billion in the second quarter, up from $93.5 billion in the first.
• Net U.S. acquisition of financial assets excluding financial derivatives was $350.7 billion in the second quarter, up from $326.1 billion in the first.
• Net U.S. incurrence of liabilities excluding financial derivatives was $472.5 billion in the second quarter, up from $417.3 billion in the first.
• Net lending in financial derivatives other than reserves was $9.3 billion in the second quarter, a shift from net borrowing of $2.3 billion in the first.

For more information, read the full report.


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