A message from Mary Bohman, Acting Director of the Bureau of Economic Analysis.
Real GDP increased 6.9 percent in the fourth quarter of 2021, reflecting increases in private inventory investment, exports, consumer spending, and nonresidential fixed investment.
Net government saving increased $598.8 billion to −$1,431.2 billion. Net federal government saving increased $718.5 billion to −$1,517.1 billion. Net state and local government saving decreased $119.7 billion to $85.9 billion.
These federal government budget estimates, which are based on the proposed budget of the U.S. government, are often used to gauge the effects of the federal budget on U.S. economic activity.
The U.S. current-account deficit decreased $2.0 billion to $217.9 billion in the fourth quarter of 2021. In 2021, the U.S. current-account deficit increased $205.5 billion to $821.6 billion.
The U.S. net international investment position was −$18.10 trillion at the end of the fourth quarter of 2021, compared to −$16.35 trillion at the end of the third quarter. At the end of 2021, the U.S. net international investment position was −$18.10 trillion, compared to −$14.01 trillion at the end of 2020.
A look at upcoming changes to the International Transactions Accounts and to the International Investment Position Accounts.