June 2022

Director’s Message

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

GDP and the Economy: Second Estimates for the First Quarter of 2022

eal GDP decreased 1.5 percent in the first quarter of 2022, reflecting decreases in private inventory investment, exports, federal government spending, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased.

Government Receipts and Expenditures: First Quarter of 2022

Net government saving increased $513.7 billion to −$898.5 billion. Net federal government saving increased $455.9 billion to −$1,042.2 billion. Net state and local government saving increased $57.7 billion to $143.6 billion.

Integrated BEA/BLS Industry-Level Production Account: Statistics for 1987–2020 and a Retrospective Look at How the COVID–19 Recession Compared to the Great Recession

Presents estimates of the aggregate sources of U.S. economic growth between 1987 and 2020.

Subject Guide

A guide to the articles in the January–June 2022 issues of the Survey.