Overview of the Economy: Perspective from the BEA Accounts

BEA produces some of the most closely watched economic statistics that influence the decisions made by government officials, business people, households, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy and are key ingredients in critical decisions affecting monetary policy, tax and budget projections, and business investment plans. The data on this page, drawn from BEA's various economic accounts, comprise an overview of the U.S. economy.

Also available: a table summarizing GDP, state personal income, and U.S. international transactions data. (This is the same table available before this web page was updated.)

National Economic Accounts:

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Gross Domestic Product (GDP)

Quarterly data: Real GDP increased at an annual rate of 3.3 percent in Q2 2004, according to final estimates.
	Highlights Detailed Press Release Business Situation Article for Preliminary Estimates, Q2 2004 Previous Releases
Previous: 1st quarter 2004: +4.5% Current: 2nd quarter 2004: +3.3% Next release: October 29, 2004

Personal Income

Monthly data: In August 2004, real disposable personal income increased 0.4 percent.
	Highlights Detailed Press Release More Previous Releases
Previous: July 2004: +0.2% Current: August 2004: +0.4% Next release: November 1, 2004

Graph of Real Disposable Income and Real Consumer Spending

Industry Economic Accounts:	More...
GDP by Industry

Annual data: New estimates are prepared using a methodology that incorporates the most timely and highest quality source data within an I-O framework that balances and reconciles industry production with commodity usage.
	Highlights Detailed Press Release Improved Annual Industry Accounts for 1998–2003 Previous Releases
Previous: 2002: Services +2.6% ; Goods +0.9% Current: 2003: Services +3.6% ; Goods +1.1% Next release: December 2004

Graph of Percent Changes in Real Value Added

International Economic Accounts:	More...
U.S. Balance of Payments (International Transactions)

Quarterly data: The U.S. current-account deficit increased $19.0 billion to $166.2 billion (preliminary) in the second quarter of 2004.
	Highlights Detailed Press Release U.S. International Transactions Article, Q1 2004 Previous Releases
Previous: 1st quarter 2004: -$147.2 billion Current: 2nd quarter 2004: -$166.2 billion Next release: December 16, 2004

Graph of U.S. Current-Account Transactions

International Investment Position

Annual data: The U.S. net international investment position at yearend 2003 was a negative $2,430.7 billion (preliminary) with direct investment valued at current cost, as the value of foreign investments in the United States exceeded the value of U.S. investments abroad.
	Highlights Detailed Press Release The International Investment Position of the United States at Yearend 2003 Article Previous Releases
Next release: June 2005

International Trade

Monthly data: Total August exports of $96.0 billion and imports of $150.1 billion resulted in a goods and services deficit of $54.0 billion. (Joint release with the U.S. Census Bureau)

Previous: July 2004: -$50.5 billion
Current: August 2004: -$54.0 billion

Next release: November 10, 2004

Graph of Balance on Goods and Services Trade

Regional Economic Accounts:	More...
Gross State Product (GSP)

Annual data: In 2001, real GSP declined in 20 states and growth decelerated in an additional 26 states.
	Highlights Detailed Press Release Gross State Product by Industry, 1999-2001 Article Previous Releases
Next release: December 15, 2004

Map of Annual Percent Change in Real Gross State Product

State Personal Income (SPI)

Quarterly data: In the second quarter of 2004, personal income grew 1.5 percent nationally, the fastest pace in more than three years. The Rocky Mountain and Far West regions grew faster than any other region, growing 1.8 percent and 1.7 percent, respectively.
	Highlights Detailed Press Release State Personal Income Article, Q1 2004 Previous Releases
Next release: December 21, 2004

State Per Capita Personal Income

Annual data: Annual state personal income for 2001-2003 was revised to incorporate source data that is more complete, more detailed, and otherwise more consistent than previously available.
	Detailed Press Release Previous Releases
Next release: March 28, 2005