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U.S. Bureau of Economic Analysis

U.S. International Trade in Goods and Services: August 2008 The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total August exports of $164.7 billion and imports of $223.9 billion resulted in a goods and services deficit of $59.1 billion, down from $61.3 billion in July, revised. Augu......

News Release: Gross Domestic Product - 3rd Quarter 2005 (Preliminary) 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 4.3 percent in the third quarter of 2005, according to preliminary estimates released by the Bureau of Economic Analysis. In the second q......

Personal Income and Outlays: August 2008 Personal income increased $61.5 billion, or 0.5 percent, and disposable personal income (DPI) decreased $93.3 billion, or 0.9 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $3.9 billion, or less than 0.1 percent. In July, perso......

U.S. Travel and Tourism Satellite Accounts: Second Quarter 2008 Real spending on travel and tourism (spending adjusted for price changes) increased at an annual rate of 3.0 percent in 2008:2, according to the Bureau of Economic Analysis. In 2008:1, real spending on travel and tourism grew 0.5 percent (revised). By comparison, real gross domestic product (GDP) gr......

State Personal Income: Second Quarter 2008 U.S. personal income grew 1.8 percent in the second quarter of 2008 with growth accelerating in all but five states, according to statistics released today by the U.S. Bureau of Economic Analysis. The second-quarter growth was the highest since the first quarter of 2007 and more than double the 0.8 ......

U.S. International Transactions: Second Quarter 2008 The U.S. current-account deficit--the combined balances on trade in goods and services, income, and net unilateral current transfers--increased to $183.1 billion (preliminary) in the second quarter of 2008 from $175.6 billion (revised) in the first quarter. The increase was more than accounted f......

U.S. International Trade In Goods and Services: July 2008 The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total July exports of $168.1 billion and imports of $230.3 billion resulted in a goods and services deficit of $62.2 billion, up from $58.8 billion in June, revised. July exp......

Personal Income and Outlays: July 2008 Personal income decreased $89.9 billion, or 0.7 percent, in July, in contrast to an increase of $7.4 billion, or 0.1 percent, in June and an increase of $218.0 billion, or 1.8 percent, in May. Disposable personal income (DPI) decreased $114.7 billion, or 1.1 percent, in July, compared with a decr......

Gross Domestic Product and Corporate Profits: Second Quarter 2008 (Preliminary) 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 3.3 percent in the second quarter of 2008, (that is, from the first quarter to the second quarter), according to preliminary estimates relea......

Personal Income for Metropolitan Areas, 2007 Personal income growth slowed in 2007 in most of the nation's metropolitan statistical areas (MSAs), according to estimates released today by the U.S. Bureau of Economic Analysis. On average, MSA personal income grew 6.2% in 2007, down from 6.8% in 2006. Personal income growth slowed in 208 MSA......

Courtesy bea.gov

Economy News

G-7: 'Urgent action' needed Finance ministers from the world's top economies pledged Friday to work together to stabilize global financial markets, but did not provide concrete plans to address the credit chaos sweeping the world.

U.S. planning to buy bank stocks Treasury Secretary Henry Paulson said on Friday that the U.S. government was working on a plan to buy stock in financial institutions by using part of the $700 billion authorized by Congress to stabilize banks.

All eyes turn to world leaders The Federal Reserve and Treasury Department haven't been able to stop the panic gripping U.S. financial markets.

Local banks fail in Illinois, Michigan Two regional banks were closed by state regulators Friday as the downturn in the housing market continues to strain local lenders.

The meltdown's silver lining - cheap oil As the world loses confidence in the foundations of its economic system, the silver lining may be that oil prices are about to get a whole lot cheaper.

House Dems plan second stimulus package House Democratic leaders are putting together a second economic stimulus package costing as much as $150 billion and are likely to call Congress back shortly after the election to vote on the measure, according to several Democratic leadership aides.

FDIC limit officially raised to $250,000 Read full story for latest details.

Lehman collapse puts hedge fund in dire straits September was arguably the worst month in hedge fund history, as unprecedented volatility in the capital markets forced once-mighty investment managers to book losses that had been thought unimaginable.

Courtesy cnn.com