January 2021

Director’s Message

A message from Mary Bohman, Acting Director of the Bureau of Economic Analysis.

GDP and the Economy: Third Estimates for the Third Quarter of 2020

Real GDP increased 33.4 percent in the third quarter of 2020, reflecting positive contributions from consumer spending, inventory investment, exports, nonresidential fixed investment, and residential fixed investment.

The Revisions to Gross Domestic Product, Gross Domestic Income, and Their Major Components

This analysis confirms that BEA's early estimates provide a reliable picture of the economy; they do not substantively change BEA's measures of long-term growth, the picture of business cycles, and the trends in major components of GDP and GDI.

U.S. International Transactions: Third Quarter 2020

The U.S. current-account deficit increased to $178.5 billion in the third quarter from $161.4 billion in the second quarter of 2020.

Visual Essay

An Ownership-Based Framework of the U.S. Current Account, 2019

This annual report presents current-account statistics that integrate information on trade in goods and services with sales by U.S. and foreign multinational enterprises through their affiliates in other countries.

U.S. International Investment Position: Third Quarter 2020

The U.S. net international investment position was −$13.95 trillion at the end of the third quarter of 2020. At the end of the second quarter, the net investment position was −$13.08 trillion.