March 28, 2024

Gross Domestic Product, Fourth Quarter and Year 2023 (Third Estimate), GDP by Industry, and Corporate Profits

Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the fourth quarter of 2023, according to the “third” estimate. In the third quarter, real GDP increased 4.9 percent. The increase in the fourth quarter primarily reflected increases in consumer spending, state and local government spending, exports, nonresidential fixed investment, federal government spending, and residential fixed investment that were partly offset by a decrease in private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

Principal Federal Economic Indicators

Gross Domestic Product
Q4 2023 (3rd)
+3.4%
Personal Income
January 2024
+1.0%
International Trade in Goods and Services
January 2024
-$67.4 B
International Transactions
Q4 2023
-$194.8 B

Noteworthy

The BEA Wire | BEA's Official Blog

Gross Domestic Product (Third Estimate), Corporate Profits, and GDP by Industry, Fourth Quarter and Year 2023

March 28, 2024

Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the fourth quarter of 2023, according to the “third” estimate. In the third quarter, real GDP increased 4.9 percent. The increase in the fourth quarter primarily reflected increases in consumer spending and state and local government spending that were partly offset by a decrease in inventory investment. Imports, which are a subtraction in the calculation of GDP,…

U.S. International Investment Position, Year 2023

March 27, 2024

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$19.77 trillion at the end of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $34.54 trillion, and liabilities were $54.31 trillion. At the end of 2022, the net investment position was –$16.17 trillion.

U.S. International Investment Position, 4th Quarter 2023

March 27, 2024

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$19.77 trillion at the end of the fourth quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $34.54 trillion, and liabilities were $54.31 trillion. At the end of the third quarter, the net investment position was –$18.11 trillion.

Arts and Culture Economy Grows 4.8 Percent in 2022

March 25, 2024

Arts and cultural economic activity, adjusted for inflation, increased 4.8 percent in 2022 after increasing 10.8 percent in 2021, according to statistics released today by the Bureau of Economic Analysis. By comparison, the broader economy, as measured by real gross domestic product,  increased 1.9 percent in 2022 after increasing 5.8 percent in 2021.

Arts and cultural economic activity accounted for 4.3 percent of GDP, or $1.10…

U.S. Current-Account Deficit Narrows in 2023

March 21, 2024

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, narrowed by $152.8 billion, or 15.7 percent, to $818.8 billion in 2023. The narrowing mostly reflected a reduced deficit on goods. The 2023 deficit was 3.0 percent of current-dollar gross domestic product, down from 3.8 percent in 2022.