February 2022

Director’s Message

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

GDP and the Economy: Advance Estimates for the Fourth Quarter of 2021

Real GDP increased 6.9 percent in the fourth quarter of 2021, reflecting positive contributions from private inventory investment, exports, consumer spending, and nonresidential fixed investment.

Accounting for Household Production in the National Accounts: An Update 1965–2020

This satellite account updates estimates of gross domestic product to account for the production of nonmarket services and the return to consumer durable goods.

U.S. Travel and Tourism Satellite Account for 1999–2020

The travel and tourism industry, as measured by the real output of goods and services sold directly to visitors, decreased 48.0 percent in 2020 after increasing 1.0 percent in 2019.

Visual Essay

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