A message from Brian Moyer, Director of the Bureau of Economic Analysis.
The 4.2 percent increase in real GDP in the second quarter reflected contributions from consumer spending, nonresidential fixed investment, exports, federal government spending, and state and local government spending.
U.S. International Services: Trade in Services in 2017 and Services Supplied Through Affiliates in 2016
In 2017, U.S. exports of services exceeded U.S. imports of services for a surplus of $255.2 billion. In 2016, services supplied to foreign markets through foreign affiliates of U.S. MNEs exceeded services supplied to the United States through U.S. affiliates of foreign MNEs.
The U.S. current-account deficit decreased to $101.5 billion from $121.7 billion in the first quarter. In the financial account, net U.S. borrowing was $134.3 billion, down from $160.9 billion.
The net international investment position decreased to −$8,638.5 billion at the end of the second quarter of 2018 from −$7,747.3 billion at the end of the first quarter.
A look at state personal income statistics for 2017; these statistics reflect the comprehensive update of the statistics released in September.