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Personal Income and Outlays: July 2008
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Personal income decreased $89.9 billion, or 0.7 percent, in July, in contrast to an increase of $7.4
billion, or 0.1 percent, in June and an increase of $218.0 billion, or 1.8 percent, in May. Disposable
personal income (DPI) decreased $114.7 billion, or 1.1 percent, in July, compared with a decrease of
$208.0 billion, or 1.9 percent, in June and an increase of $595.9 billion, or 5.7 percent in May. Personal
consumption expenditures (PCE) increased $24.1 billion, or 0.2 percent, in July, compared with an
increase of $65.5 billion, or 0.6 percent, in June. The pattern of changes in income reflects the pattern of
payments associated with the Economic Stimulus Act of 2008 (see page 2).
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Gross Domestic Product and Corporate Profits: Second Quarter 2008 (Preliminary) ..Click here to read more of this article.
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 3.3 percent in the second quarter of 2008,
(that is, from the first quarter to the second quarter), according to preliminary estimates released by the
Bureau of Economic Analysis. In the first quarter, real GDP increased 0.9 percent.
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U.S. International Trade in Goods and Services
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the
Department of Commerce, announced today that total June exports of $164.4
billion and imports of $221.2 billion resulted in a goods and services deficit
of $56.8 billion, down from $59.2 billion in May, revised. June exports were
$6.4 billion more than May exports of $158.0 billion. June imports were $3.9
billion more than May imports of $217.2 billion.
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Personal Income for Metropolitan Areas, 2007
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Personal income growth slowed in 2007 in most of the nation's metropolitan statistical areas (MSAs), according to estimates released today by the U.S. Bureau of Economic Analysis. On average, MSA personal income grew 6.2% in 2007, down from 6.8% in 2006. Personal income growth slowed in 208 MSAs, increased in 144, and remained unchanged in 11 MSAs.
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Gross Domestic Product: Second Quarter 2008 (Advance); Revised Estimates: 2005 Through First Quarter 2008
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Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 1.9 percent in the second quarter of 2008
(that is, from the first quarter to the second quarter), according to advance estimates released by the
Bureau of Economic Analysis. In the first quarter, real GDP increased 0.9 percent.
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U.S. Net International Investment Position at Yearend 2007
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The U.S. net international investment position at yearend 2007 was
-$2,441.8 billion (preliminary), as the value of foreign investments in the
United States continued to exceed the value of U.S. investments abroad. At yearend 2006, the U.S. net international investment position was
-$2,225.8 billion (revised).
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State Quarterly Personal Income, 1st quarter 2007-1st quarter 2008
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U.S. personal income grew 1.1 percent in the first quarter of 2008, after growing 1.2 percent in the last quarter of 2007, according to estimates released today by the U.S. Bureau of Economic Analysis. Across states, personal income growth ranged from 7.6 percent in North Dakota to -1.9 percent in Arkansas.
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U.S. Travel and Tourism Satellite Accounts: First Quarter 2008
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Real spending on tourism (spending adjusted for price changes) decreased at an annual rate of 3.7 percent in 2008:1, according to the Bureau of Economic Analysis, reflecting steep declines in spending on accommodations and passenger air transportation. In 2007:4, real spending on tourism grew 2.3 percent (revised). By comparison, real gross domestic product (GDP) grew at an annual rate of 0.9 percent (preliminary) in 2008:1 and 0.6 percent in 2007:4.
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U.S. International Transactions: First Quarter 2008
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The U.S. current-account deficit--the combined balances on trade in goods
and services, income, and net unilateral current transfers--increased to
$176.4 billion (preliminary) in the first quarter of 2008 from $167.2 billion
(revised) in the fourth quarter of 2007. The increase was mostly accounted for
by a decrease in the surplus on income. In addition, the deficit on goods and
net unilateral current transfers to foreigners both increased. An increase in
the surplus on services was partly offsetting.
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U.S. International Trade in Goods and Services: Annual Revision for 2007
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In this release and the accompanying U.S. International Trade in Goods and Services: April
2008, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are jointly
publishing revised data on U.S. trade in goods for 2005-2007 and the first three months
of 2008 and revised data on services for 2004-2007 and the first three months of 2008.
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Gross Domestic Product by State, advance 2007 and revised 2004-2006
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New estimates released today by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. in 2007. Real GDP growth slowed in 36 states, with declines in construction and finance and insurance restraining growth in many states.1 Nationally, real economic growth slowed from 3.1 percent in 2006 to 2.0 percent in 2007, one percentage point below the average growth of 3.0 percent for 2002–2006.
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Foreign Investors' Spending
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Outlays by foreign direct investors to acquire or to establish U.S. businesses increased sharply in 2007 after also increasing strongly in 2006. Outlays reached $276.8 billion in 2007, the second largest recorded and the highest since 2000, when new investment outlays peaked at $335.6 billion.
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Revised Statistics of Gross Domestic Product by Industry, 2004-2006
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Revised statistics on the industry distribution of real gross domestic product (GDP), released today by the U.S. Bureau of Economic Analysis, show that the private services-producing sector continued to lead overall GDP growth in 2006, increasing 4.2 percent, while growth in the private goods-producing sector slowed to 0.8 percent. Overall growth of the U.S. economy decelerated slightly in 2006 to 2.9 percent from 3.1 percent in 2005. These statistics for 2006 incorporate more accurate and more detailed information on the industry composition of GDP growth than was available for preparing the advance GDP-by-industry estimates released on April 24, 2007.
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County Estimates of Compensation by Industry, 2004-2006
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Today, the Bureau of Economic Analysis (BEA) released county estimates of compensation by industry for 2004-2006. The estimates for 2004-2005 have been revised to incorporate newly available source data; the estimates for 2006 are released for the first time.
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Gross Domestic Product by Metropolitan Area, 2001-2005
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Today, the U.S. Bureau of Economic Analysis released experimental measures of economic output produced in the Nation's metropolitan areas. GDP by metropolitan area is the measure of the market value of final goods and services produced within a metropolitan area in a particular period of time. GDP is BEA's preferred and most comprehensive measure of economic activity. Metropolitan (statistical) areas, defined by the U.S. Office of Management and Budget, are standardized county-based areas having at least one urbanized area of 50,000 or more population, plus adjacent territory that has a high degree of social and economic integration with the core, as measured by commuting ties.
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Benchmark Input-Output Accounts of the U.S. Economy, 2002
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The Bureau of Economic Analysis released today the 2002 benchmark input-output (I-O) accounts. These are the latest in a series of accounts that provide the most detailed information available on the structure of the U.S. economy and its industries, and cover over 400 industries.
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Personal Income for Metropolitan Areas, 2006 ..Click here to read more of this article.
Personal income growth accelerated in 2006 in most of the nation's metropolitan statistical areas (MSAs), according to estimates released today by the U.S. Bureau of Economic Analysis. The faster growth was spurred by the property income and compensation components of personal income. Compensation growth in most private industries, including durable goods manufacturing and professional services, accelerated, while compensation growth at all levels of government, especially the military, slowed.
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Release Dates for 2008
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A complete listing of our upcoming news releases can be found on our detailed
schedule for 2008. All news releases shown on our schedule are made available as RSS feeds.
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