July 2022

Director’s Message

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

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

Real GDP decreased 1.6 percent in the first quarter of 2022, reflecting decreases in exports, federal government spending, private inventory investment, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased.

Annual Update of the U.S. International Transactions Accounts

Revised quarterly and annual statistics that incorporate newly available and revised source data as well as updated seasonal factors.

U.S. International Transactions: First Quarter 2022

The U.S. current-account deficit increased to $291.4 billion in the first quarter from $224.8 billion in the fourth quarter of 2021.

U.S. International Investment Position: First Quarter 2022 and Annual Update

The net international investment position increased from –$18.12 trillion in the fourth quarter of 2021 to –$17.75 trillion in the first quarter of 2022.

How BEA Aligns and Augments Source Data from the U.S. Treasury Department for Inclusion in the International Transactions Accounts

The estimates of financial-account flows, which are based on Treasury Department data, are adjusted to align the estimates with balance-of-payments concepts and to close gaps in coverage.