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Innovation @ BEA: Exploring New Data Projects

BEA Blog Feed - 8 hours 15 min ago
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BEA is working on a variety of projects this year to bring new economic statistics your way. The goal is to give business people, policymakers and households additional tools to make informed decisions and deepen their understanding of the U.S. economy. At this point, it’s too early for us to say exactly when these new statistics will be introduced, but here’s a look at what we’re planning.

TRADE IN SERVICES
BEA will begin enhancing the information it provides on trade in services between the United States and other countries to support U.S. trade promotion and trade agreement efforts and to shed light on expanding trade in high-value services categories.

In October of this year, BEA will publish expanded geographic detail on exports and imports of services with the release of BEA’s most detailed annual trade in services statistics. The additional countries include Free Trade Agreement countries not already published and other trading partners of interest.

Over the next several years, BEA will accelerate the release of geographic detail by publishing more countries each quarter rather than just annually. BEA plans to produce quarterly statistics for at least 55 countries and country groups, an expansion from the current 38 countries and country groups. In addition, BEA will expand the level of detail it publishes—by type of service—for some of the most dynamic services provided by, and to, U.S. businesses, including research and development, intellectual property, medical services, financial services, and information and communication technology.

SMALL BUSINESS
BEA plans to produce statistics to measure the economic impact of small businesses, which are often at the leading edge of risk-taking, entrepreneurship and economic growth in the United States.

This new effort would include development of a Small Business Satellite Account, which would estimate the economic activity generated by small businesses and track the overall growth and health of America’s small business sector.

ARTS AND CULTURE
BEA plans to produce statistics showing the role of arts and culture in the economies of all 50 states. Statistics would include state-by-state employment and compensation information for those in the arts. Currently, BEA produces arts and culture statistics only on a nationwide basis.

INDUSTRY DETAIL
BEA plans to produce more industry detail as part of its annual GDP by Industry statistics. Currently, these statistics are published for 71 industries, which primarily reflect 3-digit industry detail under the North American Industry Classification System (NAICS). The planned expansion, which will take place over the next few years, will be more closely aligned with the 4-digit NAICS industries. For example, GDP by Industry statistics for utilities would be expanded to include detail for the following three industries: electric power generation transmission and distribution; natural gas distribution; and water, sewage and other systems. Another example: More detail would be made available for computer and electronic products manufacturing – a key source of U.S. innovation. Detailed breakouts would include computer equipment manufacturing, semiconductor manufacturing, and audio video and communications equipment manufacturing. Providing customers with such detail will foster a deeper understanding of the U.S. economy.

COUNTY ECONOMIC ACTIVITY
BEA is exploring the idea of producing statistics detailing the economic performance of the nation’s more than 3,000 counties. Currently, BEA produces Gross Domestic Product statistics covering the national economy, state economies and metropolitan economies.

 

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Planning for the 2020 Census

CENSUS Directors Blog - Fri, 02/05/2016 - 23:10

Written by: John H. Thompson

As you know, planning for the 2020 Census is underway. We’re already making key decisions about how the next census will be carried out. Our goal is a complete and accurate census — counting everyone once, only once, and in the right place. We’ve been studying cost-saving design innovations for the last three years; now we’re shifting our focus to operationalizing those innovations and ensuring that they will produce a quality census in 2020.

We are on track to do just that. We’ve already conducted extensive research and testing that makes us confident in our current design plan. From 2012 through 2015, we conducted seven census tests across the country to study a wide range of topics — from race and ethnicity questions to automating field operations to Internet response. The results were critical to informing the decisions in our operational plan.

The Census Bureau released the 2020 Census Operational Plan in October — three years earlier than we did before the 2010 Census. This means we have additional time to refine and test all of the systems and innovations we need for a complete and accurate count in 2020. We’ve already started making the decisions laid out in the operating plan — right as scheduled — and we’ll continue to do so. We have 62 key decisions to make in 2016, including finalizing how we will follow up with people who don’t respond to the census.

Releasing the operational plan five years before the 2020 Census also gives us time to communicate our plans and incorporate feedback from experts, Congress, advisory committees and the public in our decision-making process. One way we’re keeping you informed is by webcasting all of our 2020 Census Program Management Reviews so that you can be aware of what decisions we’re making, how we’re making them, and when we are making them. We want to keep everyone apprised of our progress.

One recommendation we’ve received – and acted on – was from the Government Accountability Office, to examine whether any decisions could be made ahead of schedule to reduce risk. At the last program management review on Jan. 29, we announced a decision about how census takers will collect information via Internet-enabled devices, like smartphones. In our early testing, we examined allowing census takers to “bring your own device” (BYOD) and conduct work using their own smartphone and cellular plans. Based on our research from the 2014 and 2015 tests, we found several challenges that made it clear that BYOD wasn’t the best choice for the 2020 Census. Based on this research, we made an early decision to provide equipment to census takers rather than asking them to use their own.

Planning for the 2020 Census is on schedule and right where it should be. I urge you to follow along with our progress at the 2020 Census page.

2015 Trade Gap is $531.5 Billion

BEA Blog Feed - Fri, 02/05/2016 - 19:33

The U.S. international trade deficit increased in 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $508.3 billion in 2014 to $531.5 billion in 2015, as exports decreased more than imports. As a percentage of U.S. gross domestic product, the goods and services deficit was 3.0 percent in 2015, up from 2.9 percent in 2014. The goods deficit increased from $741.5 billion in 2014 to $758.9 billion in 2015, and the services surplus decreased from $233.1 billion in 2014 to $227.4 billion in 2015.

annual highlights

Exports
Exports of goods and services decreased $112.9 billion, or 4.8 percent, in 2015 to $2,230.3 billion. Exports of goods decreased $118.8 billion and exports of services increased $5.9 billion. 

  • The largest decreases in exports of goods were in industrial supplies and materials ($76.9 billion), in foods, feeds, and beverages ($16.0 billion), and in capital goods ($12.7 billion). 
  • The largest increases in exports of services were in other business services ($9.3 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, in telecommunications, computer, and information services ($2.0 billion), and in financial services ($1.7 billion).

Imports
Imports of goods and services decreased $89.7 billion, or 3.1 percent, in 2015 to $2,761.8 billion. Imports of goods decreased $101.3 billion and imports of services increased $11.6 billion. 

  • The largest decrease in imports of goods was in industrial supplies and materials ($180.8 billion). 
  • The largest increases in imports of services were in travel (for all purposes including education) ($9.7 billion), in other business services ($5.2 billion), and in transport ($3.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (Census basis) 

  • The deficit with China increased from $343.1 billion in 2014 to $365.7 billion in 2015. Exports decreased $7.5 billion to $116.2 billion and imports increased $15.1 billion to $481.9 billion. 
  • The deficit with the European Union increased from $142.1 billion in 2014 to $153.3 billion in 2015. Exports decreased $3.5 billion to $272.7 billion and imports increased $7.8 billion to $426.0 billion. 
  • The balance with members of OPEC shifted from a deficit of $50.0 billion in 2014 to a surplus of $6.6 billion in 2015. Exports decreased $9.6 billion to $72.8 billion and imports decreased $66.2 billion to $66.2 billion.

For more information, read the full report.

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December 2015 Trade Gap is $43.4 Billion

BEA Blog Feed - Fri, 02/05/2016 - 19:16

The U.S. monthly international trade deficit increased in December 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $42.2 billion in November (revised) to $43.4 billion in December, as exports decreased and imports increased. The previously published November deficit was $42.4 billion. The goods deficit increased $1.3 billion from November to $62.5 billion in December. The services surplus increased $0.1 billion from November to $19.2 billion in December.

Balance on Goods and service monthly

Exports
Exports of goods and services decreased $0.5 billion, or 0.3 percent, in December to $181.5 billion. Exports of goods decreased $0.8 billion and exports of services increased $0.3 billion. 

  • The decrease in exports of goods mainly reflected decreases in automotive vehicles, parts, and engines ($0.6 billion), in industrial supplies and materials ($0.4 billion), and in foods, feeds, and beverages ($0.4 billion). 
  • The increase in exports of services mainly reflected increases in financial services ($0.2 billion) and in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services.

Imports
Imports of goods and services increased $0.6 billion, or 0.3 percent, in December to $224.9 billion. Imports of goods increased $0.5 billion and imports of services increased $0.1 billion. 

  • The increase in imports of goods mainly reflected increases in automotive vehicles, parts, and engines ($1.0 billion) and in industrial supplies and materials ($0.5 billion). 
  • The increase in imports of services mainly reflected increases in travel (for all purposes including education) ($0.1 billion) and in other business services ($0.1 billion).

Goods by geographic area (seasonally adjusted, Census basis)

  • The balance with members of OPEC shifted from a surplus of $1.1 billion in November to a deficit of $0.2 billion in December. Exports decreased $1.2 billion to $5.2 billion and imports increased $0.1 billion to $5.4 billion. 
  • The deficit with Germany increased from $5.5 billion in November to $6.4 billion in December. Exports decreased less than $0.1 billion to $4.1 billion and imports increased $0.8 billion to $10.5 billion. 
  • The deficit with France decreased from $2.1 billion in November to $1.4 billion in December. Exports increased $0.1 billion to $2.5 billion and imports decreased $0.6 billion to $3.9 billion.

For more information, read the full report.

 

 

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U.S. International Trade in Goods and Services, December 2015

BEA - News Release RSS - Fri, 02/05/2016 - 19:00
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $43.4 billion in December, up $1.1 billion from $42.2 billion in November, revised. December exports were $181.5 billion, $0.5 billion less than November exports. December imports were $224.9 billion, up $0.6 billion from November. Full Text
Categories: Economic Indicators

Real Disposable Income Rises in December

BEA Blog Feed - Mon, 02/01/2016 - 19:52

Personal income increased 0.3 percent in December, the same increase as in November.Personal Income Feb 1 Wages and salaries, the largest component of personal income, increased 0.2 percent in December after increasing 0.5 percent in November.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in December after increasing 0.2 percent in November.

Real DPI, income adjusted for taxes and inflation, increased 0.4 percent in December after increasing 0.2 percent in November.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in December after increasing 0.4 percent in November. Spending on durable goods decreased 0.7 percent in December after increasing 1.8 percent in November.

PCE prices decreased 0.1 percent in December after increasing 0.1 percent in November. Excluding food and energy, PCE prices remained flat in December after increasing 0.2 percent in November.

Personal saving rate
Personal saving as a percent of DPI was 5.5 percent in December and 5.3 percent in November.

DPI Feb 1

For more information, read the full report.

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Personal Income and Outlays, December 2015

BEA - News Release RSS - Mon, 02/01/2016 - 19:00
Personal income increased $42.5 billion, or 0.3 percent, and disposable personal income (DPI) increased $37.8 billion, or 0.3 percent, in December, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $0.7 billion, or less than 0.1 percent. In November, personal income increased $44.3 billion, or 0.3 percent, DPI increased $33.4 billion, or 0.2 percent, and PCE increased $59.4 billion, or 0.5 percent, based on revised estimates. Full Text
Categories: Economic Indicators

GDP Increase in Fourth Quarter

BEA Blog Feed - Fri, 01/29/2016 - 19:40

Real gross domestic product (GDP) increased 0.7 percent in the fourth quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.0 percent.

Real GDP Jan 29

GDP highlights

The fourth-quarter increase in real GDP mainly reflected an increase in consumer spending. Spending on services increased, notably on health care. Spending on durable goods also increased— notably on recreational goods and vehicles—as did spending on nondurable goods.

Residential investment and federal government spending also contributed to real GDP growth.

Partly offsetting these contributions, inventory investment, exports, and business investment each declined. In addition, imports, a subtraction in the calculation of GDP, increased.

Prices

Prices of goods and services purchased by U.S. residents increased 0.2 percent in the fourth quarter after increasing 1.3 percent in the third quarter. Excluding energy and food, prices rose 0.9 percent in the fourth quarter and 1.3 percent in the third quarter.

Personal income and personal saving

Real disposable personal income—personal income adjusted for taxes and inflation—rose 3.2 percent in the fourth quarter after rising 3.8 percent in the third quarter. Personal saving as a percentage of disposable personal income was 5.4 percent in the fourth quarter, compared with 5.2 percent in the third quarter.

Annual GDP growthannual growth jan 29

For the year 2015, real GDP increased 2.4 percent, the same as in 2014.

  • Consumer spending was the largest contributor to growth. Spending increased on services, notably healthcare, as well as durable and nondurable goods.
  • Business investment, residential investment inventory investment, state and local government spending, and exports also increased.
  • Imports, a subtraction in the calculation of GDP, increased, partly offsetting the contributions to growth.

Prices of goods and services purchased by U.S residents increased 0.3 percent in 2015, compared with a 1.5 percent increase in 2014. Excluding food and energy, prices rose 1.0 percent in 2015 after rising 1.6 percent in 2014.

For more information, read the full release.

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Gross Domestic Product, 4th quarter and annual 2015 (advance estimate)

BEA - News Release RSS - Fri, 01/29/2016 - 19:00
Real gross domestic product -- the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 0.7 percent in the fourth quarter of 2015, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.0 percent. Full Text
Categories: Economic Indicators

Industry in Focus: How Health Care and Social Assistance Fared in Third Quarter

BEA Blog Feed - Fri, 01/22/2016 - 20:32

Health care is an industry that many of us experience firsthand, whether receiving treatment for an illness or injury or simply getting an annual check-up. In the third quarter of 2015, health care and social assistance was the second-leading contributor to the 2 percent increase in the U.S. economy’s growth, providing 0.38 percentage point to real GDP.

Of particular interest: health care and social assistance accelerated from July through September, after decelerating for three consecutive quarters. (We describe an industry as accelerating when its growth in the current quarter is faster than its growth in the previous quarter. Conversely, we describe an industry as decelerating when its growth in the current quarter is slower than its growth in the previous quarter.)

We learn even more about what is happening inside the health care sector when we dig down into the underlying detail tables that we introduced last quarter.

Health care and social assistance consists of four underlying industries—ambulatory health care services, hospitals, nursing and residential care facilities, and social assistance. A glance at the contributions of the underlying industries reveals that three of the four industries had actually been declining for two quarters.

However, growth in ambulatory health care services (which includes outpatient-services providers such as physicians, dentists, or optometrists) had hidden those declines. In the third quarter those three industries stopped declining and started growing again, which explains why health care and social assistance as a whole both grew and accelerated during the period.

Combining all of these observations from just a handful of tables allows one to paint a rich picture of what’s actually going on in the economy. What started as a relatively straightforward story—“health care grew in the third quarter”—becomes far more interesting when we begin to look at how that growth changed from previous quarters and how different parts of the industry fared.

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Retail Trade Led Growth in the Third Quarter Gross Domestic Product by Industry

BEA Blog Feed - Thu, 01/21/2016 - 19:20

Retail trade; health care and social assistance; and agriculture, forestry, fishing, and hunting were the leading contributors to the increase in U.S. economic growth in the third quarter of 2015. Overall, 15 of 22 industry groups contributed to the 2.0 percent increase in real GDP in the third quarter.

Real GDP Jan 21

  • Retail trade increased 7.1 percent in the third quarter, after increasing 3.7 percent in the second quarter.
  • Health care and social assistance increased 5.5 percent, after increasing 2.1 percent.
  • Agriculture, forestry, fishing, and hunting increased 37.5 percent, after decreasing 3.9 percent.Real Value Jan 21

For more information, read the full report.

 

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Gross Domestic Product by Industry, 3rd quarter 2015

BEA - News Release RSS - Thu, 01/21/2016 - 19:00
Retail trade; health care and social assistance; and agriculture, forestry, fishing, and hunting were the leading contributors to the increase in U.S. economic growth in the third quarter of 2015, according to statistics on the breakout of gross domestic product (GDP) by industry released today by the Bureau of Economic Analysis (BEA). Overall, 15 of 22 industry groups contributed to the 2.0 percent increase in real GDP in the third quarter. Full Text
Categories: Economic Indicators

Improvements to the Release of Economic Indicators Mean You Get Data Faster

CENSUS Directors Blog - Fri, 01/15/2016 - 20:30

Written by: John H. Thompson

Every month, the Census Bureau releases key indicators of America’s economy. These indicators are critical to the analysis of the nation’s current and future economic performance. Businesses in America, and around the world, rely heavily upon them to make decisions every day.

Today, the Census Bureau announced a significant improvement in the way we release these indicators. We’ve reduced the lag between the indicators’ official release and when they are posted to the web to the smallest it’s ever been. As of today, every person in America will have access to the indicators in as little as one second after their release.

IRIP graphic final

This improvement comes in response to our customers’ requests for more timely access to our data. Because of the indicators’ value, data users such as business owners, researchers, investors, economists and policymakers want access to it as quickly as possible.

Enhancing the accessibility of our data via the web is a key aspect of the Census Bureau’s digital transformation. The new streamlined, automated method allows customers to access economic indicators on census.gov more expeditiously and efficiently by optimizing the process required to post economic indicator data to the Internet.

To view today’s release of economic indicators, click here. You can find more economic indicators from the Census Bureau at www.census.gov/economic-indicators or by downloading the America’s Economy app.

Fore more information about the Census Bureau’s digital transformation and the release of economic indicators, please contact the Public Information Office at pio@census.gov.

American Samoa’s Economy Grows in 2014

BEA Blog Feed - Thu, 01/14/2016 - 01:33

American Samoa’s economy grew 1.6 percent in 2014, the Bureau of Economic Analysis reported today.

The estimate is for real GDP, which is adjusted to remove price changes. For comparison, real GDP for the United States (excluding U.S. territories) increased 2.4 percent in 2014.

The growth in the American Samoa economy reflected widespread increases among the components of GDP. These increases were partly offset by an increase in imports of goods, which is a subtraction item in the calculation of GDP.

Growth in private fixed investment and in exports of goods reflected increased activity of the tuna canning industry. Private fixed investment, which is spending by businesses on construction and equipment, increased for a second consecutive year. This growth reflected continued investments by the tuna canning industry, including the construction of a multimillion dollar tuna processing plant. The increase in exports of goods was due to growth in exports of canned tuna.

Government spending also increased, primarily reflecting growth in spending by the territorial government. Federal grant revenues supported major territorial government projects in 2014, including the telecommunication authority’s work to improve broadband capacity and coverage in American Samoa.

For more information, read the full report.

Categories: BEA Feed Category

Gross Domestic Product for American Samoa, 2014

BEA - News Release RSS - Thu, 01/14/2016 - 01:30
The estimates of GDP for American Samoa show that real GDP -- GDP adjusted to remove price changes -- increased 1.6 percent in 2014 (see Table 1.3). For comparison, real GDP for the U.S. (excluding the territories) increased 2.4 percent in 2014. Full Text
Categories: Economic Indicators

November 2015 Trade Gap is $42.4 Billion

BEA Blog Feed - Wed, 01/06/2016 - 19:50

The U.S. monthly international trade deficit decreased in November 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.6 billion in October (revised) to $42.4 billion in November, as exports decreased less than imports. The previously published October deficit was $43.9 billion. The goods deficit decreased $2.3 billion from October to $61.3 billion in November. The services surplus decreased $0.1 billion from October to $18.9 billion in November.

Goods and services jan 6

Exports
Exports of goods and services decreased $1.6 billion, or 0.9 percent, in November to $182.2 billion. Exports of goods decreased $1.4 billion and exports of services decreased $0.1 billion.

  • The decrease in exports of goods mainly reflected decreases in other goods ($0.7 billion), in industrial supplies and materials ($0.7 billion), and in consumer goods ($0.6 billion).
  • The decrease in exports of services mainly reflected decreases in transport ($0.1 billion), which includes freight and port services and passenger fares, and in government goods and services ($0.1 billion).

Imports
Imports of goods and services decreased $3.8 billion, or 1.7 percent, in November to $224.6 billion. Imports of goods decreased $3.7 billion and imports of services decreased $0.1 billion.

  • The decrease in imports of goods mainly reflected decreases in consumer goods ($3.0 billion) and in capital goods ($0.6 billion).
  • The decrease in imports of services mainly reflected a decrease in travel (for all purposes including education) ($0.1 billion).

Goods by geographic area (seasonally adjusted, Census basis)

  • The deficit with Mexico decreased from $6.3 billion in October to $5.4 billion in November. Exports decreased $0.9 billion to $18.8 billion and imports decreased $1.8 billion to $24.2 billion.
  • The surplus with members of OPEC increased from $0.4 billion in October to $1.1 billion in November. Exports increased $1.3 billion to $6.5 billion and imports increased $0.6 billion to $5.4 billion.
  • The deficit with Canada increased from $0.4 billion in October to $0.9 billion in November. Exports decreased $0.1 billion to $22.7 billion and imports increased $0.4 billion to $23.5 billion.

For more information, read the full report.

Categories: BEA Feed Category

U.S. International Trade in Goods and Services, November 2015

BEA - News Release RSS - Wed, 01/06/2016 - 19:00
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.4 billion in November, down $2.2 billion from $44.6 billion in October, revised. November exports were $182.2 billion, $1.6 billion less than October exports. November imports were $224.6 billion, $3.8 billion less than October imports. Full Text
Categories: Economic Indicators

The Year in Review

CENSUS Directors Blog - Thu, 12/31/2015 - 22:16

Written by: John H. Thompson

As the year comes to a close, I want to recognize all of the hard work and notable achievements that have taken place at the U.S. Census Bureau over the past year. As the leading source of statistics on our nation’s people, places and economy, we’re always striving to serve our customers better – whether they are responding to a survey or want data about their community. 2015 was no exception.

This year, we conducted over 130 surveys. We published a wealth of statistics and data, including a major release on income, poverty and health insurance in America. We rolled out several exciting tools to make our data easier to use, such as Census Business Builder: Small Business Edition, a new tool aimed at helping entrepreneurs start businesses. We announced new ways to get our data earlier than before, and made some of our existing data sets available for free.

We added three new Federal Statistical Research Data Centers to our data center network, bringing our total to 22. We continued to produce research that is central to our mission, with over 70 research papers and over 100 presentations at a variety of major scientific forums – including the Joint Statistical Meetings, the Population Association of America, the American Association of Geographers, the American Association of Public Opinion Research and the Allied Social Science Association Meetings. And of course, we continued to map out improvements for future censuses and surveys, including the American Community Survey, the 2017 Economic Census and the 2020 Census. In addition to the excellent, ongoing work that the Census Bureau does, I want to highlight some key achievements from 2015:

  • I’m very proud that we released the operational plan for the 2020 Census, the blueprint for a historic census of “firsts.” The 2020 Census will be the most automated and technologically advanced census ever. Innovations in the operational plan will make it easier than ever for people to respond to the census, and will save taxpayers more than $5 billion compared to doing the census the old way. Through the smart use of technology and information, we can automate our data collection and field operations to make the entire census more efficient and accessible.
  • This year we conducted two successful census tests. In Georgia and South Carolina, we explored new outreach and promotion strategies, and learned more about the best ways for people to complete the census quickly and securely over the Internet. In Maricopa County, Arizona, we evaluated new technologies for collecting and processing responses to the census, and tested a new field management structure. This research is critical to making important design decisions for the 2020 Census. We’ll continue our preparations for the 2020 Census with two more tests in 2016 – in Harris County, Texas and Los Angeles County, California.
  • 2015 marked the anniversary of the American Community Survey, which has now provided U.S. communities with detailed information for 10 years. As the nation’s largest ongoing household survey, the ACS produced statistics annually – down to the block group level – for every community in the nation. In December, we released the latest ACS five-year statistics, which allowed users to compare two non-overlapping, five-year data sets for the first time. Users can now identify trends for social and economic characteristics for even the smallest communities on a more frequent basis.
  • We began collecting data for the first Annual Survey of Entrepreneurs as part of a three-year pilot project in partnership with the Ewing Marion Kauffman Foundation and the Minority Business Development Agency.  This new survey responds to our customers’ requests for more timely data by providing an updated socio-economic portrait of America’s business owners in the years between the Survey of Business Owners. Data from the 2014 Annual Survey of Entrepreneurs – including estimates on firms, receipts, payroll and employment by business owners’ gender, ethnicity, race and veteran status – are tentatively scheduled to be released next summer.
  • Earlier this year we debuted our City Software Development Kit (SDK), a user-friendly “toolbox” for civic hackers to connect local and national public data. Developers asked for an easier way to use the Census API for common tasks, and the SDK is our answer. Currently, we have distributed over 12,030 developer keys. Last month the SDK was named the Federal Government’s 2015 Innovation of the Year by Fed Scoop.
  • In January, 55 Census Bureau employees won Gold and Silver Medal awards from the Secretary of Commerce for distinguished and exceptional service. Throughout the year, employees have continued to win accolades, including the Arthur S. Flemming Award in Applied Science; the Innovation Initiative Excellence Award from AFCEA Bethesda; the Special Achievement in GIS Award from Esri; the Leader of the Year in Enterprise Risk Management from the Association for Federal Enterprise Risk Management; and the Energy and Environmental Stewardship Award from the Department of Commerce.

Thank you to all of the Census Bureau employees whose hard work has paid off so impressively this year. As we look forward to the New Year, 2016 is shaping up to be just as productive. With research and innovation, we’ll continue to provide quality data about America’s people and economy.

Value of U.S. Assets Decreased More than U.S. Liabilities in Third Quarter 2015

BEA Blog Feed - Tue, 12/29/2015 - 19:28

The U.S. net international investment position was -$7,269.8 billion (preliminary) at the end of the third quarter of 2015 as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the second quarter, the net investment position was -$6,743.1 billion (revised).

International stats 1229.png

  • The $526.7 billion decrease in the net investment position reflected net other changes in position of -$514.9 billion and net financial transactions of -$11.8 billion. Other changes in position include price changes, exchange-rate changes, and other changes in volume and valuation.
  • U.S. assets decreased $1,233.3 billion and U.S. liabilities decreased $706.6 billion, mostly as a result of decreases in the value of portfolio and direct investment assets and liabilities.
  • U.S. assets excluding financial derivatives decreased $1,496.6 billion, reflecting other changes in position of -$1,419.3 billion and financial transactions of -$77.3 billion.
  • U.S. liabilities excluding financial derivatives decreased $961.8 billion, reflecting other changes in position of -$897.1 billion and financial transactions of -$64.7 billion.
  • The decrease in the net investment position reflected equity price decreases for U.S. assets and liabilities and the depreciation of foreign currencies against the U.S. dollar, as described in the news release.

For more information, read the full report.

Categories: BEA Feed Category

U.S. International Investment Position, 3rd quarter 2015

BEA - News Release RSS - Tue, 12/29/2015 - 19:00
The U.S. net international investment position at the end of the third quarter of 2015 was -$7,269.8 billion (preliminary), as the value of U.S. liabilities exceeded the value of U.S. assets. At the end of the second quarter of 2015, the net position was -$6,743.1 billion (revised). The $526.7 billion decrease in the net position reflected a $1,233.3 billion decrease in the value of U.S. assets that exceeded a $706.6 billion decrease in the value of U.S. liabilities. Full Text
Categories: Economic Indicators

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