BEA has been researching the use of card transaction data as an early barometer of spending in the United States. Since the emergence of COVID-19, dramatic and fast-moving changes to the U.S. economy have increased the public and policymakers' need for more frequent and timely economic data. In response, BEA is presenting these estimates using daily payment card data to measure the effects of the pandemic on spending, updated approximately every two weeks.

Note that these payment card transactions are not necessarily representative of total spending in an industry and the data have other limitations, described below. The estimates in these charts and tables are not a substitute for BEA's monthly and quarterly official data, which are grounded in well-tested and proven methodologies.

An event study methodology is used to estimate the difference (in percentage points) in spending from the typical level (relative to the day of...

Did the U.S. current account deficit grow or shrink last year? What products make up the largest share of U.S. goods exports? What types of assets make up the largest portion of U.S. financial investments abroad? In which state do U.S. affiliates of foreign multinational enterprises employ the most people?

The answers to these questions and many others can be found in the U.S. Bureau of Economic Analysis’ International Economic Accounts. The International Economic Accounts are comprised of three core accounts — the International Transactions Accounts, the International Investment Position Accounts, and the statistics on the activities of multinational enterprises — plus four sets of related statistics. The related sets are monthly trade in goods and services; international services; direct investment by country and industry; and new foreign direct investment in the United States.

Real gross domestic product (GDP) increased at an annual rate of 6.6 percent in the second quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The increase was revised up 0.1 percentage point from the “advance” estimate released in July. In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined. In the first quarter of 2021, real GDP increased 6.3 percent. For more details, including source data, see the Technical Note and Federal Recovery Programs and BEA Statistics.

GDP highlights The second-quarter increase in real GDP reflected increases in consumer spending, business investment, exports, and state and local government spending that were partly offset by decreases in inventory investment,...

Real gross domestic product (GDP) increased at an annual rate of 6.6 percent in the second quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The increase was revised up 0.1 percentage point from the “advance” estimate released in July. In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined. In the first quarter of 2021, real GDP increased 6.3 percent.

Growth in the outward investment position increased $244.9 billion to $6.15 trillion, up 4.1 percent from 2019. The inward investment position increased $187.2 billion to $4.63 trillion, up 4.2 percent from 2019. [PDF]

Growth in the outward investment position increased $244.9 billion to $6.15 trillion, up 4.1 percent from 2019. The inward investment position increased $187.2 billion to $4.63 trillion, up 4.2 percent from 2019. [PDF]

At the foundation of BEA's industry statistics are the input-output accounts — a guide to the inner workings of the U.S. economy. These detailed tables can help you trace supply chains, see indirect connections between industries, or study an industry's imports and exports.

The Bureau of Economic Analysis (BEA) and its journal, the Survey of Current Business, are respected sources of data on the health of our national economy due in large part to the individuals who influenced BEA and its predecessor agencies over the past century. From economic theory to the mechanics of producing reliable statistics, their contributions helped make BEA and its accounts the reliable, authoritative sources of economic data they are today. The Survey has chronicled the evolution of BEA's output for almost a century.

As we have celebrated the centennial of the Survey over the past year, some of these top influencers have been profiled on the centennial website. This month, we conclude this series with profiles on economists Dale Jorgenson and, presented here, Selma Fine Goldsmith.

Did the U.S. current account deficit grow or shrink last year? What products make up the largest share of U.S. goods exports? What types of assets make up the largest portion of U.S. financial investments abroad? In which state do U.S. affiliates of foreign multinational enterprises employ the most people?

The answers to these questions and many others can be found in the U.S. Bureau of Economic Analysis’ International Economic Accounts. The International Economic Accounts are comprised of three core accounts — the International Transactions Accounts, the International Investment Position Accounts, and the statistics on the activities of multinational enterprises — plus four sets of related statistics. The related sets are monthly trade in goods and services; international services; direct investment by country and industry; and new foreign direct investment in the United States.

Did the U.S. current account deficit grow or shrink last year? What products make up the largest share of U.S. goods exports? What types of assets make up the largest portion of U.S. financial investments abroad? In which state do U.S. affiliates of foreign multinational enterprises employ the most people?

The answers to these questions and many others can be found in the U.S. Bureau of Economic Analysis’ International Economic Accounts. The International Economic Accounts are comprised of three core accounts — the International Transactions Accounts, the International Investment Position Accounts, and the statistics on the activities of multinational enterprises — plus four sets of related statistics. The related sets are monthly trade in goods and services; international services; direct investment by country and industry; and new foreign direct investment in the United States.

The U.S. monthly international trade deficit increased in June 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $71.0 billion in May (revised) to $75.7 billion in June, as imports increased more than exports. The previously published May deficit was $71.2 billion. The goods deficit increased $4.0 billion in June to $93.2 billion. The services surplus decreased $0.7 billion in June to $17.4 billion.

The new U.S. data show that the outdoor recreation economy accounted for 2.1 percent ($459.8 billion) of current-dollar gross domestic product (GDP) for the nation in 2019. At the state level, outdoor recreation value added as a share of state GDP ranged from 5.8 percent in Hawaii to 1.3 percent in Connecticut. The share was 1.1 percent in the District of Columbia.

The Bureau of Economic Analysis (BEA) and its journal, the Survey of Current Business, are respected sources of data on the health of our national economy due in large part to the individuals who influenced BEA and its predecessor agencies over the past century. From economic theory to the mechanics of producing reliable statistics, their contributions helped make BEA and its accounts the reliable, authoritative sources of economic data they are today. The Survey has chronicled the evolution of BEA's output for almost a century.

As we have celebrated the centennial of the Survey over the past year, some of these top influencers have been profiled on the centennial website. This month, we conclude this series with profiles on economists Dale Jorgenson and, presented here, Selma Fine Goldsmith.

Real gross domestic product (GDP) increased at an annual rate of 6.5 percent in the second quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined. In the first quarter of 2021, real GDP increased 6.3 percent (revised). For more details, including source data, see the Technical Note and Federal Recovery Programs and BEA Statistics.