Gross Domestic Product, 2nd Quarter 2020 (Third Estimate); Corporate Profits, 2nd Quarter 2020 (Revised Estimate)

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Real gross domestic product (GDP) decreased at an annual rate of 31.4 percent in the second quarter of 2020, according to the ?third? estimate released by the Bureau of Economic Analysis. The change was 0.3 percentage point higher than the ?second? estimate released in August. In the first quarter of 2020, real GDP decreased 5.0 percent.Corporate profits decreased 10.3 percent at a quarterly rate in the second quarter after decreasing 12.0 percent in the first quarter. Corporate profits decreased 19.3 percent in the second quarter from one year ago.Today?s release includes estimates of GDP by industry, or value added?a measure of an industry?s contribution to GDP. Private goods-producing industries decreased 34.4 percent, private services producing industries decreased 33.1 percent, and government decreased 16.6 percent. Overall, 20 of 22 industry groups contributed to the second-quarter decline in real GDP. Full Text

Published September 30, 2020 at 08:30PM
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U.S. International Investment Position, 2nd Quarter 2020

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The U.S. net international investment position, the difference between U.S. residents' foreign financial assets and liabilities, was -$13.05 trillion at the end of the second quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $28.87 trillion and liabilities were $41.92 trillion. At the end of the first quarter, the net investment position was -$12.16 trillion. Full Text

Published September 29, 2020 at 08:30PM
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Prototype Gross Domestic Product for Puerto Rico, 2012-2018

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Today, the Bureau of Economic Analysis (BEA) released prototype annual estimates of gross domestic product (GDP) for Puerto Rico for 2012 to 2018. This release represents another major step by the Bureau to develop comprehensive economic accounts for Puerto Rico that are consistent with international guidelines and that are directly comparable to data for other states and countries. The prototype estimates showed that the Puerto Rico economy, as measured by inflation-adjusted (or "real") GDP, expanded from 2012 to 2014, before turning down in 2015 and continuing to decrease through 2018. Exports of goods and services was a key contributor to changes in real GDP over this period. Full Text

Published September 28, 2020 at 11:00PM
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Personal Income by State, 2nd Quarter 2020 and Year 2019

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State personal income increased 34.2 percent at an annual rate in the second quarter of 2020, an acceleration from the 4.1 percent increases in the first quarter. Personal income increased in every state and the District of Columbia ranging from 15.3 percent in the District of Columbia to 76.3 percent in Massachusetts. Full Text

Published September 24, 2020 at 08:30PM
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U.S. International Transactions, 2nd Quarter 2020

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The U.S. current account deficit widened by $59.0 billion, or 52.9 percent, to $170.5 billion in the second quarter of 2020, according to statistics from the U.S. Bureau of Economic Analysis. The revised first quarter deficit was $111.5 billion. The second quarter deficit was 3.5 percent of current dollar gross domestic product, up from 2.1 percent in the first quarter. Full Text

Published September 18, 2020 at 08:30PM
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U.S. International Trade in Goods and Services, July 2020

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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.6 billion in July, up $10.1 billion from $53.5 billion in June, revised. July exports were $168.1 billion, $12.6 billion more than June exports. July imports were $231.7 billion, $22.7 billion more than June imports. Full Text

Published September 03, 2020 at 08:30PM
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