BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on this page are drawn from featured BEA economic accounts. U.S. Economy at a Glance Table
Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter. The increase in the third quarter primarily reflected increases in exports and consumer spending that were partly offset by a decrease in housing investment.
Personal income increased $78.9 billion, or 0.4 percent at a monthly rate, while consumer spending increased $113.0 billion, or 0.6 percent, in September. The increase in personal income primarily reflected increases in compensation and personal income receipts on assets. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 3.1 percent in September, compared with 3.4 percent in August.
The U.S. current-account deficit narrowed by $31.5 billion, or 11.1 percent, to $251.1 billion in the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised first-quarter deficit was $282.5 billion. The second-quarter deficit was 4.0 percent of current-dollar gross domestic product, down from 4.6 percent in the first quarter.
The U.S. net international investment position (IIP), the difference between U.S. residents’ foreign financial assets and liabilities, was -$16.31 trillion at the end of the second quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $30.98 trillion, and liabilities were $47.29 trillion. At the end of the first quarter, the net investment position was -$17.75 trillion.
The U.S. monthly international trade deficit increased in September 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $65.7 billion in August (revised) to $73.3 billion in September, as imports increased and exports decreased. The goods deficit increased $6.6 billion in September to $92.7 billion. The services surplus decreased $1.0 billion in September to $19.5 billion.
Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $333.6 billion (preliminary) in 2021.
Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022, with the percent change in real GDP ranging from 1.8 percent in Texas to –4.8 percent in Wyoming.
In 2021, personal income increased in 3,075 counties, decreased in 36, and was unchanged in 3. Personal income increased 7.4 percent in the metropolitan portion of the United States and 7.7 percent in the nonmetropolitan portion.
State personal consumption expenditures (PCE) increased 12.7 percent in 2021 after decreasing 1.9 percent in 2020. The percent change in PCE across all 50 states and the District of Columbia ranged from 16.3 percent in Utah to 9.4 percent in New York. |
What is the economy of the United States
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