US BEA Reports

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total December exports of $178.8 billion and imports of $227.6 billion resulted in a goods and services deficit of $48.8 billion, up from $47.1 billion in November, revised. December exports were $1.2 billion more than November exports of $177.5 billion. December imports were $3.0 billion more than November imports of $224.6 billion.Full Text

Personal income increased $61.3 billion, or 0.5 percent, and disposable personal income (DPI) increased $47.1 billion, or 0.4 percent, in December, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $2.0 billion, or less than 0.1 percent. In November, personal income increased $7.4 billion, or 0.1 percent, DPI decreased $4.1 billion, or less than 0.1 percent, and PCE increased $11.4 billion, or 0.1 percent, based on revised estimates.Full Text

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 2.8 percent in the fourth quarter of 2011 (that is, from the third quarter to the fourth quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 1.8 percent. Full Text

Real spending on travel and tourism decreased at an annual rate of 1.0 percent in the third quarter of 2011 after increasing 3.2 percent (revised) in the second quarter.Full Text

State personal income growth slowed to 0.1 percent, on average, in the third quarter of 2011. Growth rates ranged from -0.4 percent in West Virginia to 0.6 percent in Washington State. Personal income fell or was unchanged in twenty states and grew 0.2 percent in the other thirty. Full Text

The U.S. current-account deficit�the combined balances on trade in goods and services, income, and net unilateral current transfers�decreased to $110.3 billion (preliminary) in the third quarter of 2011, from $124.7 billion (revised) in the second quarter. More than half of the decrease reflected a decrease in the deficit on goods. A decrease in net unilateral current transfers and increases in the surpluses on services and on income also contributed.Full Text

Compensation increased in 2,480 counties and declined in 633 counties in the U.S. in 2010, as the average annual compensation per job increased 2.7 percent to $58,451. Total compensation of U.S. workers increased 2.2 percent in 2010, as net job losses partially offset compensation growth.Full Text

WASHINGTON DC, August 9, 2011 � Personal income rose in 2010 in all but four of the nation�s 366 metropolitan statistical areas (MSAs), according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income in the metropolitan portion of the United States rose 2.9 percent in 2010 after falling 1.9 percent in 2009. Personal income growth in 2010 ranged from 10.1 percent in Elizabethtown, Kentucky to -0.9 percent in Grand Junction, Colorado. Inflation, as measured by the national price index for personal consumption expenditures, accelerated to 1.8 percent in 2010 from 0.2 percent in 2009. Full Text

The estimates for Guam show that real GDP — GDP adjusted to remove price changes — increased 1.7 percent in 2009 after increasing 0.5 percent in 2008 (see Table 3). For comparison, real GDP for the U.S. (excluding the territories) decreased 2.6 percent in 2009 after remaining unchanged in 2008. Full Text

The estimates for the CNMI show that real GDP — GDP adjusted to remove price changes — decreased 19.8 percent in 2009 after decreasing 12.1 percent in 2008 (see Table 3). For comparison, real GDP for the U.S. (excluding the territories) decreased 2.6 percent in 2009 after remaining unchanged in 2008. The estimates of real GDP for 2008 and 2009 reflected continued declines in exports and in consumer spending. Full Text