Real gross domestic product (GDP) decreased at an annual rate of 31.7 percent in the second quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. The change was 1.2 percentage points higher than the “advance” estimate released in July. In the first quarter of 2020, real GDP decreased 5.0 percent.

The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $59.0 billion, or 52.9 percent, to $170.5 billion in the second quarter of 2020. The widening reflected an expanded deficit on goods and reduced surpluses on primary income and on services. The second quarter deficit was 3.5 percent of current dollar gross domestic product, up from 2.1 percent in the first quarter.

Current Account Balance, Second Quarter

The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $59.0 billion, or 52.9 percent, to $170.5 billion in the second quarter of 2020, according to statistics from the U.S. Bureau of Economic Analysis (BEA). The revised first quarter deficit was $111.5 billion.

The second quarter deficit was 3.5 percent of current dollar gross domestic product, up from 2.1 percent in the first quarter.

The $59.0 billion widening of the current account deficit in the second quarter mostly reflected an expanded deficit on goods and reduced surpluses on primary income and on services.

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The accelerated schedule is the result of more than two years of planning and testing to integrate BEA’s production of national, industry, and state GDP data. Previously, we produced GDP by industry statistics about three weeks after the third estimate of each quarter’s national GDP, and state GDP figures about a week later. We began to narrow those gaps earlier this year with data releases for the fourth quarter of 2019.

Policymakers, government officials, businesspeople, analysts, and other data users rely on BEA’s statistics for a better understanding of changes in regional economies and in industries such as finance and insurance; retail trade; and health care and social assistance. Together, these statistics tell a more complete story of what happened in the national economy each quarter.

The accelerated schedule is the result of more than two years of planning and testing to integrate BEA’s production of national, industry, and state GDP data. Previously, we produced GDP by industry statistics about three weeks after the third estimate of each quarter’s national GDP, and state GDP figures about a week later. We began to narrow those gaps earlier this year with data releases for the fourth quarter of 2019.

Policymakers, government officials, businesspeople, analysts, and other data users rely on BEA’s statistics for a better understanding of changes in regional economies and in industries such as finance and insurance; retail trade; and health care and social assistance. Together, these statistics tell a more complete story of what happened in the national economy each quarter.

The U.S. monthly international trade deficit increased in July 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $53.5 billion in June (revised) to $63.6 billion in July, as imports increased more than exports. The previously published June deficit was $50.7 billion. The goods deficit increased $9.3 billion in July to $80.9 billion. The services surplus decreased $0.8 billion in July to $17.4 billion.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.6 billion in July, up $10.1 billion from $53.5 billion in June, revised.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.6 billion in July, up $10.1 billion from $53.5 billion in June, revised.

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It is understood that many users create ‘bookmarks’ or ‘favorites’ for their most frequently accessed pages on our site. However, due to some alterations to our directory structure, some ‘bookmarked’ URLs may no longer house the information they did prior to any redesign.

The links provided below will assist you in locating information within the BEA site. Should you be unable to locate the information you want, please contact us at webmaster@bea.gov and let us know the web page you were looking for.

It may be useful to try one of these links: