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New Commerce Department Report Shows Foreign Direct Investment:Since 2000, FDI has Supported More Than 5 Million Jobs at 30% Higher Wages

Submitted on June 14, 2011 - 11:41am
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WASHINGTON, D.C. – The U.S. Department of Commerce’s Economics and Statistics Administration (ESA) today reported that foreign direct investment (FDI) in the United States over the past decade has supported more than 5 million U.S. jobs that, on average, paid 30 percent more than other jobs. The findings, presented in a new ESA report entitled “Foreign Direct Investment in the United States,” point the way toward policies that could expand the number of foreign partners investing in the United States and, in so doing, create more high-paying U.S. jobs.

application/pdf iconESA Foreign Direct Investment Issue Brief

Statement from U.S. Commerce Secretary Gary Locke on April 2011 U.S. International Trade in Goods and Services

Submitted on June 9, 2011 - 11:15am
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WASHINGTON – U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the April 2011 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports of goods and services in April 2011 increased 1.3 percent from March 2011 to a record $175.6 billion, with record exports of both goods ($126.4 billion) and services ($49.1 billion). The monthly export values for U.S. industrial supplies ($43.4 billion) and capital goods ($41.0 billion) was also the highest on record. U.S. imports of goods and services decreased 0.4 percent over this period to $219.2 billion, causing the U.S.

Statement from U.S. Commerce Department Acting Deputy Secretary Rebecca Blank on Personal Income and Outlays in April 2011

Submitted on May 27, 2011 - 1:02pm
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The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for April 2011. Personal income increased 0.4 percent in April, consistent with private-sector expectations. Wages and salaries, the largest component of income, rose a solid 0.4 percent, supported by improvements in the labor market. Real consumer spending rose 0.1 percent in April and is up 1.0 percent at an annual rate above its first-quarter average.

Statement from U.S. Commerce Department Chief Economist Mark Doms on the Second Estimate of Gross Domestic Product for the First Quarter

Submitted on May 26, 2011 - 12:59pm

WASHINGTON - The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the first quarter of 2011. Real GDP grew 1.8 percent at an annual rate in the first quarter, unchanged from last month’s advance report and slightly below private-sector expectations of an upward revision. Corporate profits grew by $21.9 billion in the first quarter of 2011 to a level of $1,700.2 billion.

New Commerce Department Report Shows Record Services Trade Surplus that Continues to Grow

Submitted on May 11, 2011 - 9:49am
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WASHINGTON, D.C. – The U.S. Department of Commerce’s Economics and Statistics Administration (ESA) today released a report showing U.S. trade in private services totaled $526.6 billion in 2010, representing a trade surplus that is growing, rising from $66.7 billion in 2003 to $168 billion in 2010.

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Deputy Under Secretary Nancy Potok Receives Distinguished Public Service Award

Submitted on May 2, 2011 - 1:51pm

WASHINGTON, April 29, 2011 – Deputy Under Secretary Nancy Potok received the Distinguished Public Service Award from the George Washington University Chapter of Pi Alpha Alpha, a national honor society formed to encourage and recognize outstanding scholarship and accomplishment in public affairs and administration. Established in 1974, Pi Alpha Alpha and its more than 39,000 members seek to advance the ideals of integrity, professionalism, and creative performance in public service. The award ceremony was preceded by an induction dinner for new members of the chapter, where Dr. Potok delivered remarks. Dr. Potok holds a Ph.D. from the University’s Trachtenberg School for Public Policy and Public Administration.

Statement from U.S. Commerce Secretary Gary Locke on New Residential Construction in March 2011

Submitted on April 19, 2011 - 10:07am
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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released data on new residential construction in March 2011. Permits for new housing units increased 11.2 percent, significantly exceeding private-sector expectations of a 3.0-percent rise. Housing starts increased 7.2 percent, compared with private-sector expectations of a 10.0-percent rise.

“Despite continued volatility, today’s numbers show welcome growth within the housing market,” U.S. Commerce Secretary Gary Locke said. “With 230,000 private-sector jobs added in March in industries from manufacturing to education to construction, there are positive signs for widespread growth throughout the economy and a stronger housing market in the coming year.”

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Statement from U.S. Commerce Secretary Gary Locke on Retail Sales in March 2011

Submitted on April 13, 2011 - 10:11am
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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for March 2011. Retail sales rose 0.4 percent, slightly below private-sector expectations. Retail and food services sales, excluding autos, were up 0.8 percent, consistent with private-sector expectations. Motor vehicle sales fell 1.7 percent, and sales at gasoline stations jumped 2.6 percent. Sales at gasoline stations comprise about 10 percent of total retail sales.

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Statement from U.S. Commerce Secretary Gary Locke on February 2011 U.S. International Trade in Goods and Services

Submitted on April 12, 2011 - 10:31am
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WASHINGTON – U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the February 2011 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports of goods and services in February 2011 decreased 1.4 percent from January 2011 to $165.1 billion, with record exports of services ($47.2 billion). U.S. imports of goods and services decreased 1.7 percent over this period to $210.9 billion, causing the U.S. trade deficit to decrease 2.6 percent since January 2011 to reach $45.8 billion in February 2011.

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Under Secretary Blank Attends Ron Brown Dedication

Submitted on April 6, 2011 - 3:12pm
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New York, NY, Tuesday, March 29, 2011 - Commerce Department Under Secretary for Economic Affairs Rebecca M. Blank attended the dedication for the new United States’ United Nations Mission building in honor of the late U. S. Commerce Department Secretary Ronald H. Brown. Former Secretary Brown lost his life while on a trade mission to Croatia 15 years ago.