Posts Tagged 'BEA'

GDP Increases in Second Quarter

Real gross domestic product (GDP) increased 3.1 percent in the second quarter of 2017, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point more than the “second” estimate released in August. In the first quarter, real GDP increased 1.2 percent.

GDP highlights
The second‐quarter increase in real GDP reflected increases in consumer spending on goods and services as well as increases in business investment, exports, and federal government spending.

The increase in consumer spending was led by increases in housing and utilities; other Q2Q Real Growth Sept 28services, notably in communication services; and other nondurable goods, primarily in prescription drugs. The increase in business investment reflected
increases in all three components: equipment, structures, and intellectual property products.

Partly offsetting these increases were declines in housing investment and state and local government spending.

Updates to GDP
The revision to the third estimate of GDP growth mainly reflected an upward revision to private inventory investment, notably farm inventories. For more information see the technical note.

Corporate profits
Corporate profits increased 0.7 percent at a quarterly rate in the second quarter of 2017 Q2Q Corporate Profits Sept 28after decreasing 2.1 percent in the first quarter.

• Profits of domestic nonfinancial corporations increased 4.9 percent after increasing 0.3 percent.
• Profits of domestic financial corporations decreased 7.1 percent after decreasing 7.9 percent.
• Profits from the rest of the world (net) decreased 2.5 percent after decreasing 2.1
percent.

Corporate profits increased 6.4 percent from the second quarter of 2016.

For more information, read the full report.

 

BEA’s API Expands Access to International Services Trade Data

Programming code abstract technology background of software deve
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.

U.S. Net International Investment Position Third Quarter 2016

The U.S. net international investment position increased to −$7,781.1 billion (preliminary) at the end of the third quarter of 2016 from −$8,026.9 billion (revised) at the end of the second quarter.

  • The net investment position increased $245.8 billion or 3.1 percent in the third quarter, compared with a decrease of 5.9 percent in the second quarter and an average quarterly decrease of 6.0 percent from the first quarter of 2011 through the first quarter of 2016.
  • U.S. assets increased $346.2 billion to $24,861.2 billion at the end of the third quarter, reflecting a $794.9 billion increase in assets excluding financial derivatives that was partly offset by a $448.7 billion decrease in financial derivatives. The increase in assets excluding financial derivatives mostly reflected increases in portfolio investment and direct investment assets due to increases in foreign equity prices.
  • U.S. liabilities increased $100.5 billion to $32,642.3 billion at the end of the third quarter, reflecting a $546.3 billion increase in liabilities excluding financial derivatives that was partly offset by a $445.8 billion decrease in financial derivatives. The increase in liabilities excluding financial derivatives reflected increases in portfolio investment and direct investment liabilities due to financial transactions and increases in U.S. equity prices.

For more information, read the full report.


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