Home > Overview of the U.S. Economy: Perspective from the BEA Accounts

Overview of the U.S. Economy: Perspective from the BEA Accounts

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.

National Economic Accounts:

Gross Domestic Product (GDP)
Current Numbers:
  • 3rd quarter 2008: -0.3 percent
  • 2nd quarter 2008: +2.8 percent
Next release: Next release: November 25, 2008
Quarterly data: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 0.3 percent in the third quarter of 2008, (that is, from the second quarter to the third quarter), according to advance estimates released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.8 percent.

Personal Income
Current Numbers:
  • September 2008: +0.2 percent (personal income)
  • August 2008: +0.4 percent (personal income)
Next release: November 26, 2008
Monthly data: In September 2008, real disposable personal income increased 0.1 percent.

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Industry Economic Accounts:

Annual Industry Accounts: GDP by Industry
Annual Data: A downturn in the finance and insurance industry group accounted for nearly half of the slowdown in economic growth in 2007, according to preliminary statistics on industry contributions to real gross domestic product (GDP) growth.
Annual Growth in Real GDP
Graph of Annual Percent Changes in Real Value Added
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Annual Percent Changes in Value-Added Price Indexes
Graph of Annual Percent Changes in Chain-type Price Indexes for Value Added
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International Economic Accounts:

U.S. Balance of Payments (International Transactions)
Current Account Balance:
  • 2nd quarter 2008: -$183.1 billion
  • 1st quarter 2008: -$175.6 billion
Next release: December 17, 2008
Quarterly data: The U.S. current-account deficit increased to $183.1 billion (preliminary) in the second quarter of 2008 from $175.6 billion (revised) in the first quarter.
Quarterly Data Graph of U.S. Current-Account Transactions
Quarterly Data
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International Investment Position
Annual data: 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 exceeded the value of U.S. investments abroad.

International Trade in Goods and Services
Trade Balance:
  • August 2008: -$59.1 billion
  • July 2008: -$61.3 billion
Next release: November 13, 2008
Monthly data: (Joint release with the U.S. Census Bureau)

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Regional Economic Accounts:

Gross Domestic Product (GDP) by State
Next release: June 2, 2009
Annual data: 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. 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.

Gross Domestic Product (GDP) by Metropolitan Area
Next release: September 24, 2009
Annual data: Newly available statistics released today by the U.S. Bureau of Economic Analysis show that real GDP by metropolitan area grew in 308 of 363 metropolitan (statistical) areas in 2006.

State Personal Income (SPI)
Next release: December 18, 2008
Quarterly data: U.S. personal income grew 1.8 percent in the second quarter of 2008 with growth accelerating in all but five states.

State Per Capita Personal Income
Next release: December 18, 2008
Annual data: The revised 2007 U.S. per capita personal income was $38,564. The average revision to the 2007 personal incomes of the 50 states and the District of Columbia was 0.3 percentage point.

Metropolitan Area Personal Income
Annual data: Personal income growth slowed in 2007 in most of the nation’s metropolitan statistical areas.

Local Area Personal Income
Annual data: The percent change from 2005 to 2006 in county personal income ranged from 648 percent in St. Bernard Parish, Louisiana to -43 percent in Slope County, North Dakota.

County Estimates of Compensation by Industry, 2004-2006
Annual data: The Bureau of Economic Analysis released county estimates of compensation by industry for 2004-2006.

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Last updated: Friday, October 31, 2008
Bureau of Economic Analysis is an agency of the U.S. Department of Commerce.
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