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