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Personal Consumption Expenditures by State, 1997-2012 (Prototype Estimates)

August 25, 2014 Comments off

Personal Consumption Expenditures by State, 1997-2012 (Prototype Estimates)
Source: Bureau of Economic Analysis

Today, the U.S. Bureau of Economic Analysis released prototype estimates of personal consumption expenditures (PCE) for states for 1997-2012. These new estimates provide insight into household spending patterns across states that can be used together with other regional data to gain a better understanding of regional economies.

The data provide a new tool for state-level analysis of consumer activity and household economic well-being. The statistics can be used by state and regional policy makers for fiscal analysis and by businesses targeting regional markets. These prototype estimates are released for evaluation and comment by data users.

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Quarterly Gross Domestic Product by State, 2005–2013 (Prototype Statistics)

August 21, 2014 Comments off

Quarterly Gross Domestic Product by State, 2005–2013 (Prototype Statistics)
Source: Bureau of Economic Analysis

Today, the U.S. Bureau of Economic Analysis released prototype statistics of quarterly gross domestic product (GDP) by state for 2005–2013. These new statistics provide a more complete picture of economic growth across states that can be used with other regional data to gain a better understanding of regional economies as they evolve from quarter to quarter.

The new data provide a fuller description of the accelerations, decelerations, and turning points in economic growth at the state level, including key information about changes in the distribution of industrial infrastructure across states. These prototype statistics are released for evaluation and comment by data users.

National Income and Product Accounts — Gross Domestic Product: Second Quarter 2014 (Advance Estimate)

July 30, 2014 Comments off

National Income and Product Accounts — Gross Domestic Product: Second Quarter 2014 (Advance Estimate)
Source: Bureau of Economic Analysis

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 4.0 percent in the second quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent (revised).

Widespread But Slower Growth in 2013: Advance 2013 and Revised 1997—2012 Statistics of GDP by State

June 20, 2014 Comments off

Widespread But Slower Growth in 2013: Advance 2013 and Revised 1997—2012 Statistics of GDP by State
Source: Bureau of Economic Analysis

Real gross domestic product (GDP) increased in 49 states in 2013, according to new statistics released today by the Bureau of Economic Analysis (BEA). Nondurable–goods manufacturing; real estate and rental and leasing; and agriculture, forestry, fishing, and hunting were the leading contributors to real U.S. economic growth. U.S. real GDP growth slowed to 1.8 percent in 2013 after increasing 2.5 percent in 2012.

Real Personal Income for States and Metropolitan Areas, 2008-2012

April 28, 2014 Comments off

Real Personal Income for States and Metropolitan Areas, 2008-2012
Source: Bureau of Economic Analysis

Today, the U.S. Bureau of Economic Analysis released real, price-adjusted estimates of personal income for states and metropolitan areas for 2008-2012.

The price-adjustments are based on regional price parities (RPPs) and on BEA’s national Personal Consumption Expenditure (PCE) price index. The RPPs measure geographic differences in the price levels of consumption goods and services relative to the national average, and the PCE price index measures national price changes over time (see Technical Note). Using the RPPs in combination with the PCE price index allows for comparisons of the purchasing power of personal income across regions and over time. These estimates are being released for the first time as official statistics.

National Income and Product Accounts Gross Domestic Product, Fourth Quarter and Annual 2013 (second estimate)

February 28, 2014 Comments off

National Income and Product Accounts Gross Domestic Product, Fourth Quarter and Annual 2013 (second estimate)
Source: Bureau of Economic Analysis

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 2.4 percent in the fourth quarter of 2013 (that is, from the third quarter to the fourth quarter), according to the “second” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 4.1 percent.

Widespread Growth Across Industries in 2012; Revised Statistics of Gross Domestic Product by Industry for 1997-2012

January 27, 2014 Comments off

Widespread Growth Across Industries in 2012; Revised Statistics of Gross Domestic Product by Industry for 1997-2012
Source: Bureau of Economic Analysis

With this release, the Bureau of Economic Analysis (BEA) has provided new and expanded detail on the industry sources of U.S. economic growth in 2012. These newly available data, which reflect the results of the 2014 comprehensive revision of the annual industry accounts, confirm the widespread growth in 2012. Overall, 20 of 22 industry groups contributed to the 2.8 percent increase in real GDP. Professional and business services; finance, insurance, real estate, rental, and leasing; mining; and manufacturing were the leading contributors to growth.

  • Professional, scientific, and technical services real value added—a measure of an industry’s contribution to GDP—increased 4.2 percent in 2012, continuing to reflect strong growth in computer systems design and related services.
  • Real estate and rental and leasing increased 2.2 percent in 2012, the third consecutive year of positive real value added growth.
  • Mining rose 14.0 percent in 2012, after increasing 9.9 percent in 2011, reflecting strong growth for oil and gas extraction.
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