Category: US Economy

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GDP, (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 1st Quarter 2026

Source: US Bureau of Economic Analysis

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the first quarter of 2026 (January, February, and March), according to the third estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent.

Real GDP was revised up 0.5 percentage point from the second estimate, primarily reflecting a downward revision to imports, which are a subtraction in the calculation of GDP, that was partly offset by a downward revision to consumer spending. For more information, refer to the “Technical Notes” below.

Real GDP was revised down 0.2 percentage point from the second estimate, primarily reflecting a downward revision to investment. For more information, refer to the “Technical Notes” below.

The contributors to the increase in real GDP in the first quarter were investment, exports, government spending, and consumer spending. Imports, which are a subtraction in the calculation of GDP, increased.

GDP by industry

From an industry perspective, the increase in real GDP reflected increases in real value added of 7.5 percent for government, 4.5 percent for private goods-producing industries, and 0.8 percent for private services-producing industries. The leading industry contributors to the increase in real GDP were information; federal government; professional, scientific, and technical services; and durable goods manufacturing. The leading offsets were decreases in retail trade, wholesale trade, and finance and insurance.

Related economic measures

Real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, increased 1.7 percent in the first quarter, revised down 0.7 percentage point from the previous estimate.

Real gross output increased 1.7 percent in the first quarter, reflecting increases of 4.9 percent for government, 1.7 percent for private services-producing industries, and less than 0.1 percent for private goods-producing industries.

Real gross domestic income (GDI) increased 1.2 percent in the first quarter, revised up 0.3 percentage point from the previous estimate. The average of real GDP and real GDI increased 1.7 percent in the first quarter, revised up 0.4 percentage point.

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $74.4 billion in the first quarter, revised up $34.0 billion.

The price index for gross domestic purchases increased 3.6 percent in the first quarter, revised up 0.1 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index increased 4.6 percent, also revised up 0.1 percentage point, and the PCE price index excluding food and energy increased 4.4 percent, the same as previously estimated.

Real GDP and Related Measures
[Percent change (SAAR) from 2025:Q4 to 2026:Q1]
  Advance Estimate Second Estimate Third Estimate
Real GDP 2.0 1.6 2.1
Current-dollar GDP 5.6 5.1 5.8
Real final sales to private domestic purchasers 2.5 2.4 1.7
Real GDI … 0.9  1.2
Average of real GDP and real GDI … 1.3  1.7
Gross domestic purchases price index 3.6 3.5 3.6
PCE price index 4.5 4.5 4.6
PCE price index excluding food and energy 4.3 4.4 4.4
U.S. Bureau of Economic Analysis

GDP by state

From a regional perspective, real GDP increased in 46 states and the District of Columbia in the first quarter of 2026, with the percent change at an annual rate ranging from 4.5 percent in Washington state to –1.6 percent in South Dakota and remaining unchanged in Delaware.

Information was the leading contributor to the increase in real GDP in Washington state. Agriculture, forestry, fishing and hunting was the leading contributor to the decrease in South Dakota.

Personal income by state

In the first quarter of 2026, current-dollar personal income increased $222.6 billion, or 3.4 percent at an annual rate. Personal income increased in 49 states and the District of Columbia, with the percent change at an annual rate in current-dollar personal income ranging from 22.4 percent in North Dakota to –23.9 percent in Hawaii.

Earnings (compensation plus proprietors’ income) increased in 46 states. The percent change in earnings ranged from 34.7 percent in North Dakota to –1.5 percent in the District of Columbia.

Personal current transfer receipts increased in 45 states and the District of Columbia. The percent change in transfer receipts ranged from 15.5 percent in Minnesota to –75.7 percent in Hawaii. The decrease in transfer receipts in Hawaii reflected a settlement paid to households in the fourth quarter of 2025, related to the 2023 Maui wildfire.

Property income (dividends, interest, and rent) increased in 50 states and the District of Columbia. The percent change ranged from 5.5 percent in Idaho to 3.2 percent in Alaska.

Annual Update of the National and Regional Economic Accounts

With improvements in concurrent production of BEA statistics, the 2026 annual updates of national, industry, and regional data will begin on the same day for the first time: September 30, 2026. The annual update of the National Economic Accounts (NEAs) includes gross domestic product (GDP), gross domestic income, GDP by industry, monthly personal income and outlays, and related statistics in the National Income and Product Accounts (NIPAs) and the Industry Economic Accounts. The update of the Regional Economic Accounts includes GDP by state and by county, personal income by state and by county, and related statistics. Improvements incorporated as part of the annual updates impact all three sets of accounts. For details, refer to “Information on 2026 Annual Updates to the National, Industry, State, and County Statistics.”

For definitions, statistical conventions, updates to GDP, and more information about national statistics, visit additional information about national statistics. For BEA regions, uses of regional statistics, and more information about state-level statistics, visit additional information about state statistics.

Next release: July 30, 2026, at 8:30 a.m. EDT
GDP (Advance Estimate), 2nd Quarter 2026

Technical Notes

Sources of revisions to real GDP in the third estimate

Real GDP increased at an annual rate of 2.1 percent (0.5 percent at a quarterly rate ) in the first quarter, an upward revision of 0.5 percentage point from the previous estimate, primarily reflecting a downward revision to imports that was partly offset by a downward revision to consumer spending.

  • Within imports, the revision reflected downward revisions to both goods (led by consumer goods, except food and automotive, as well as capital goods, except automotive) and services (led by transport services). The revisions primarily reflected the incorporation of the annual update of BEA’s International Transactions Accounts (ITAs).
  • The downward revision to consumer spending primarily reflected downward revisions to financial services and insurance (led by portfolio management and investment advice), based on newly available and updated data from the U.S. Census Bureau’s Quarterly Services Survey, and other services (led by international travel), based on revised data from the ITAs.

More information on the source data and BEA assumptions that underlie the first-quarter estimate is shown in the key source data and assumptions table.

Legal services prices

The PCE price index for legal services was adjusted for the months of January and March. No adjustment was made for February. For more information on why BEA sometimes adjusts source data, refer to the FAQ “Does BEA adjust source data that are used to estimate GDP and related measures?“.

International Emergency Economic Powers Act tariff refunds

In February 2026, the Supreme Court of the United States determined that certain tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful, and it obligated the federal government to refund affected businesses. The refunds are treated as a capital transfer and do not affect first-quarter GDP. For more information, refer to the FAQ “How are the International Emergency Economic Powers Act tariff refunds reflected in BEA’s National Economic Accounts?”.

Update of state statistics

Today, BEA also released revised quarterly estimates of personal income by state for the first through fourth quarters of 2025. This update incorporates new and revised source data that are more complete and more detailed than previously available and aligns the states with the national estimates from the National Income and Product Accounts released today.

Related Interactive Data Tables

For the statistics highlighted in this release, as well as historical time series for these statistics, see the below data tables in BEA’s interactive data application.

National GDP and related measures
Table 1.1.1. Percent Change From Preceding Period in Real GDP
Table 1.5.2. Contributions to Percent Change in Real GDP, Expanded Detail
Table 1.4.1. Percent Change From Preceding Period in Real GDP, Real Gross Domestic Purchases, and Real Final Sales to Domestic Purchasers
Table 1.6.7. Percent Change From Preceding Period in Prices for Gross Domestic Purchases
Table 1.7.1. Percent Change From Preceding Period in Real GDP, Real Gross National Product, and Real Net National Product
Table 6.16D. Corporate Profits by Industry 

GDP by industry
Percent Changes in Chain-Type Quantity Indexes for Value Added by Industry
Contributions to Percent Change in Real GDP by Industry
Percent Changes in Chain-Type Quantity Indexes for Gross Output by Industry

GDP by state
Table SQGDP1. Quarterly GDP by State—Percent Change at Annual Rates From Preceding Period in Real GDP
Table SQGDP11. Industry Contributions to Percent Change in Real GDP by State

Personal income by state
Table SQINC1. Quarterly Personal Income by State—Percent Change at Annual Rates From Preceding Period
Table SQINC4. Quarterly Personal Income by State—Percent Change by Major Component

Note. With the next releases of these statistics, today’s data will be superseded, and the links above will reflect the latest data. The original data featured in this release can then be accessed in BEA’s Data Archive.

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CPSC Shares Fireworks Safety Tips as America Turns 250

Source: US Consumer Product Safety Commission

WASHINGTON, D.C. –  As America celebrates its historic 250th Independence Day, millions of families will gather to enjoy one of the nation’s most enduring traditions—fireworks. The U.S. Consumer Product Safety Commission (CPSC) is encouraging consumers to celebrate responsibly and follow a few simple safety precautions to help prevent injuries.
Every year, fireworks cause thousands of preventable injuries.  Even sparklers, which can burn at temperatures above 2,000 degrees Fahrenheit, can cause serious burns if not used carefully. As we mark this historic national milestone, CPSC wants Americans to celebrate proudly, use common sense, and take a few simple steps to prevent injuries. 
For 2025, CPSC received reports of at least 15 deaths and an estimated 13,000 emergency department-treated injuries linked to fireworks misuse and malfunction. There were an estimated 1,300 injuries involving sparklers alone. The 15-to-24 age group accounted for the largest share of injuries, and burns to the hands, fingers and head were most common. Many of the most severe incidents involved devices that tipped over, malfunctioned or were used too close to people.
“For 250 years, Americans have celebrated our nation’s independence with family, friends, and fireworks,” said Acting CPSC Chairman Peter A. Feldman. “As we mark this historic milestone, enjoy the celebration, use common sense, and treat fireworks with the respect they deserve. On behalf of everyone at CPSC, I wish all Americans a happy, safe and memorable Independence Day.”
Tips to Celebrate Safely

Buy only legal consumer fireworks from reputable retailers. Never use homemade, altered or illegal fireworks, and always follow the instructions on the label.
Keep children away from fireworks, including sparklers. Sparklers burn at temperatures of about 2,000 degrees Fahrenheit—hot enough to melt some metals—and can cause serious burns in seconds.
Keep water nearby. Have a bucket of water or a garden hose ready in case of fire or to safely soak used fireworks.
Never use fireworks while impaired by alcohol or drugs.
Light one firework at a time, then move away quickly. Never lean over a firework while lighting the fuse.
Never aim, throw or point fireworks at people, animals or buildings. Never hold, wear or attach fireworks to your body or clothing. Use fireworks only as directed by the manufacturer.
Don’t relight a “dud.”  Wait at least 20 minutes, then soak it thoroughly in water before disposing of it.
The safest way to celebrate: Leave fireworks to the professionals and enjoy public fireworks displays in your community. 

Report Unsafe Products
Consumers who encounter fireworks that appear unsafe, mislabeled, toy-like, or designed to be held while firing should report them through SaferProducts.gov. Manufacturers and distributors can report potential noncompliance through CPSC’s Business Product Safety Complaint portal.  Reports help CPSC identify dangerous products and support enforcement actions to protect consumers.
View CPSC’s latest fireworks PSA here.For more fireworks safety tips, visit Fireworks | CPSC.gov.

About the U.S. CPSCThe U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. Since the CPSC was established more than 50 years ago, it has worked to ensure the safety of consumer products, which has contributed to a decline in injuries associated with these products. 
Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.
For lifesaving information:

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U.S. International Transactions and Investment Position, 1st Quarter 2026 and Annual Update

Source: US Bureau of Economic Analysis

The U.S. current-account deficit resulting from international economic transactions widened by $5.8 billion, or 2.6 percent, to $226.8 billion in the first quarter of 2026, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised fourth-quarter deficit was $221.1 billion.

The first-quarter deficit was 2.9 percent of current-dollar gross domestic product, up from 2.8 percent in the fourth quarter.

The $5.8 billion widening of the current-account deficit in the first quarter reflected a shift in the balance on primary income from a surplus in the fourth quarter to a deficit in the first quarter that was partly offset by a reduced deficit on goods.

Exports of goods and services to, and income received from, foreign residents increased $50.0 billion to $1.38 trillion in the first quarter, reflecting an increase in goods exports that was partly offset by a decrease in primary (earned) income receipts.

Imports of goods and services from, and income paid to, foreign residents increased $55.8 billion to $1.61 trillion, reflecting increases in goods imports and in primary (earned) income payments.

Capital-transfer receipts increased $3.3 billion to $3.4 billion in the first quarter. Capital-transfer payments decreased $0.9 billion to $2.0 billion.

Net financial-account transactions were $209.0 billion in the first quarter, reflecting net U.S. borrowing from foreign residents.1 First-quarter transactions increased U.S. residents’ foreign financial assets by $527.3 billion and increased U.S. liabilities to foreign residents by $803.7 billion.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$21.27 trillion at the end of the first quarter of 2026. Assets totaled $43.37 trillion, and liabilities totaled $64.64 trillion. At the end of the fourth quarter of 2025, the net investment position was –$21.87 trillion (revised).

U.S. assets increased $462.9 billion in the first quarter, reflecting increases in all major investment categories except direct investment. Financial transactions of $527.3 billion were partly offset by exchange-rate changes of –$357.1 billion.

U.S. liabilities decreased $140.4 billion in the first quarter, reflecting a decrease in portfolio investment that was partly offset by increases in the other major investment categories. The overall decrease reflected price changes of –$1.18 trillion that were partly offset by financial transactions of $803.7 billion.

  

Updates for the Fourth Quarter of 2025

International Transactions Accounts Balances
  Preliminary estimates Revised estimates
Billions of dollars, seasonally adjusted
Current-account balance –190.7 –221.1
    Goods balance –241.5 –259.4
    Services balance 81.4 82.1
    Primary income balance 23.9 3.4
    Secondary income balance –54.6 –47.2
Net financial-account transactions –135.9 –248.7

 

International Investment Position Aggregates
  Preliminary estimates Revised estimates
Trillions of dollars, not seasonally adjusted
U.S. net international investment position –27.54 –21.87
    U.S. assets 42.96 42.91
    U.S. liabilities 70.49 64.78
U.S. Bureau of Economic Analysis

Annual Updates

The statistics in this release reflect the annual updates of the U.S. International Transactions Accounts (ITAs) and the International Investment Position (IIP) Accounts. With these updates, BEA has incorporated the following changes:

  • Incorporated the results from BEA’s 2022 Benchmark Survey of Foreign Direct Investment in the United States and 2023 Benchmark Survey of Insurance Transactions by U.S. Companies with Foreign Persons.
  • Incorporated improvements to the methodology for estimating transport services.
  • Introduced newly available source data for U.S. financial-account transactions, positions, and income from the U.S. International Development Finance Corporation and implemented presentational changes in affected tables.
  • Incorporated stock swaps into portfolio investment transactions.
  • Discontinued direct investment-related adjustments to other investment loan positions and transactions.
  • Incorporated market valuation of reserve asset securities.
  • Incorporated improvements to the methodology for revaluing historical-cost foreign direct investment equity positions in the United States to market value.

BEA has also incorporated other newly available and revised source data, as well as recalculated seasonal and trading-day adjustments, beginning with statistics for 1999.

Newly Available and Revised Source Data: Key Providers and Years Affected

Agency Data Years affected
BEA Benchmark and quarterly insurance services surveys 2019–2025
Quarterly international services surveys 2023–2025
Benchmark, annual, and quarterly direct investment surveys 2022–2025
U.S. Census Bureau Revised source data for Census-basis goods 2023–2025
U.S. Department of the Treasury Annual portfolio investment surveys 2024–2025
Quarterly and monthly portfolio and other investment surveys 2023–2025
U.S. Bureau of Economic Analysis

More information on the annual updates is available in “Preview of the 2026 Annual Update of the International Economic Accounts” in the Survey of Current Business. Additional information will be provided in the Survey in July 2026. U.S. International Economic Accounts: Concepts and Methods will be updated in September 2026 accordingly.

Related Interactive Data Tables

For the first-quarter 2026 and annual update ITA and IIP statistics highlighted in this release, as well as historical time series for these estimates, see the below data tables in BEA’s Interactive Data Application.

International transactions
Table 1.1. U.S. International Transactions
Table 1.2. U.S. International Transactions, Expanded Detail
Table 2.1. U.S. International Trade in Goods
Table 3.1. U.S. International Trade in Services
Table 4.1. U.S. International Transactions in Primary Income
Table 5.1. U.S. International Transactions in Secondary Income
Table 6.1. U.S. International Financial Transactions for Direct Investment
Table 7.1. U.S. International Financial Transactions for Portfolio Investment
Table 8.1. U.S. International Financial Transactions for Other Investment

International investment position
Table 1.1. U.S. Net International Investment Position at the End of the Period
Table 1.2. U.S. Net International Investment Position at the End of the Period, Expanded Detail
Table 1.3. Change in the U.S. Net International Investment Position

Notes. With the release of second-quarter 2026 ITA and IIP statistics on September 24, 2026, the first-quarter data will be superseded, and the links above will reflect the latest data. The original data featured in this release can then be accessed in BEA’s Data Archive.

BEA has updated its disclosure avoidance method to coarsening, which includes rounding, aggregation, and the use of ranges. This allows BEA to publish more data, while still providing confidentiality to BEA’s survey respondents.

For resources, definitions, and more, visit “Additional Information.”

Next release: September 24, 2026, at 8:30 a.m. EDT
U.S. International Transactions and Investment Position, 2nd Quarter 2026

1. Net financial-account transactions equal net U.S. acquisition of financial assets excluding financial derivatives less net U.S. incurrence of liabilities excluding financial derivatives plus net financial derivatives and are presented in international transactions tables 1.1 and 1.2 as “Net lending (+) or net borrowing (–) from financial-account transactions.”

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CPSC Announces Relocation from Maryland to Washington, D.C.

Source: US Consumer Product Safety Commission

WASHINGTON, D.C. –  The U.S. Consumer Product Safety Commission (CPSC) today announced plans to relocate its headquarters to the historic Government Accountability Office (GAO) Building at 441 G Street NW in Washington, D.C., with the transition expected to be completed in early October 2026.
The relocation will significantly improve space utilization and transition the agency from privately leased office space to an existing government-owned facility. The move also avoids costly investments that would otherwise be required at the agency’s current location and supports broader Administration efforts to reduce the federal government’s leased real estate footprint. 
“This relocation sets CPSC up for long-term success while demonstrating our responsible stewardship of taxpayer dollars,” said Acting Chairman Peter A. Feldman. “By transitioning from privately leased office space to an existing government-owned facility, we’re reducing costs, making better use of federal assets, and creating a modern headquarters that better supports our critical safety mission.”
“This is a smart move for CPSC and a win for the American people.”
Following an evaluation of multiple alternatives, CPSC selected the GAO Building based on mission needs, operational continuity, and alignment with federal real property policies. The relocation will reduce the agency’s physical footprint by approximately 30 percent, correcting longstanding deficiencies with agency space utilization.
CPSC has been headquartered at the privately owned Bethesda Towers since the early 1990s. The relocation to the GAO Building, a federally owned property, supports the Trump Administration’s broader effort to reduce reliance on leased office space, improve utilization of federally owned facilities, and modernize government operations. The new headquarters will place CPSC in closer proximity to Congress, the White House and key federal partners and outside stakeholders. 
The agency’s National Product Testing and Evaluation Center at 5 Research Place in Rockville, Maryland will not be affected by this move and will continue to operate at its current location. Agency operations will continue throughout the transition, and CPSC anticipates no disruption to its consumer product safety mission. Additional information regarding the relocation and any impacts to public meetings or visitor access will be provided as the transition progresses.

About the U.S. CPSCThe U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. Since the CPSC was established more than 50 years ago, it has worked to ensure the safety of consumer products, which has contributed to a decline in injuries associated with these products. 
Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.
For lifesaving information:

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Daikin Agrees to Pay $8.5 Million Civil Penalty for Failure to Immediately Report PTACs that Posed a Fire Hazard

Source: US Consumer Product Safety Commission

WASHINGTON, D.C. –  The U.S. Consumer Product Safety Commission (CPSC) is announcing that Daikin Comfort Technologies Manufacturing, Inc., f/k/a Daikin Comfort Technologies Manufacturing, L.P., of Waller, Texas, has agreed to pay an $8.5 million civil penalty. The settlement, which has been provisionally accepted by CPSC, resolves CPSC’s charges that Daikin knowingly failed to immediately report to CPSC, as required by law, that its Packaged Terminal Air Conditioners/Heat Pumps (PTACs) equipped with “DigiAir” modules contained a defect which could create a substantial product hazard and created an unreasonable risk of serious injury or death to consumers.
Between 2017 and 2023, Daikin received multiple warranty claims relating to the PTACs, over a dozen reports of fires, and one report of a smoke inhalation injury. Despite possessing information that reasonably supported the conclusion that the PTACs contained a defect which could create a substantial product hazard or created an unreasonable risk of serious injury or death, Daikin did not immediately report to the Commission.
The Commission and Daikin jointly announced a recall of the PTACs on August 3, 2023.  The recall press release stated that the DigiAir module compressor in the PTACs can overheat, posing burn and fire hazards.
In addition to the $8.5 million civil penalty, the settlement agreement requires Daikin to appoint an Internal Compliance Monitor and maintain internal controls and procedures designed to ensure compliance with the Consumer Product Safety Act (CPSA), including enhancements to its compliance program.  Daikin has also agreed to submit annual reports regarding its compliance program, internal controls, and internal audit of the effectiveness of compliance.
The Commission has provisionally accepted the settlement agreement, subject to public comment. Michael Evans, a Trial Attorney in the Division of Enforcement and Litigation, represented the Commission in this enforcement action.

About the U.S. CPSCThe U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. Since the CPSC was established more than 50 years ago, it has worked to ensure the safety of consumer products, which has contributed to a decline in injuries associated with these products. 
Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.
For lifesaving information:

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As CPSC’s First Federal Neck Floats Safety Standard Takes Effect, Agency Renews “Do Not Use” Warnings for Otteroo LUMI and MINI Infant Neck Floats

Source: US Consumer Product Safety Commission

The U.S. Consumer Product Safety Commission announced today that the federal safety standard for infant neck floats is now in effect. The rule establishes the first mandatory federal safety requirements for these products after years of reported drowning incidents, repeated CPSC safety warnings, and enforcement actions involving hazardous neck floats. 
The standard applies to neck floats manufactured after June 15, 2026. It is intended to reduce the risk of drowning associated with infants slipping through or becoming submerged while using these products by addressing the following hazards: 

Children slipping through the product for reasons associated with inflation, which includes deflation and underinflation;
Children slipping through the product for reasons not associated with inflation;
Children slipping through the product due to a restraint system failure; and
Children becoming submerged in water without slipping through the product. 

A neck float is an aquatic toy intended for use by children up to and including four years of age.
Life-saving flotation devices regulated by the U.S. Coast Guard, including those that attach to the neck of a user, are excluded from this rule.
Between January 2019 and January 2024, CPSC received reports of 115 incidents involving infant neck floats, including two reported infant fatalities and two injuries requiring hospitalization. Many incidents involved caregivers rescuing infants after the child slipped through or became submerged, preventing what otherwise could have become a fatal drowning. Victims whose ages were reported ranged from just 17 days old to 12 months old. Many of these incidents occurred despite a caregiver being nearby, underscoring how quickly a child can slip through a neck float or become submerged.
Today’s rule follows years of CPSC warnings and enforcement actions addressing the serious drowning hazards associated with infant neck floats. Most notably, in 2022 the Commission issued a public warning urging consumers to immediately stop using Otteroo LUMI, MINI, and earlier versions of Otteroo infant flotation rings after determining that infants could slip through the products if they deflated. That warning followed one reported infant drowning, one serious injury, and dozens of incidents in which caregivers had to rescue infants who slipped through the products. That warning remains in effect, and CPSC continues to urge consumers not to buy, use, resell, or donate Otteroo LUMI, MINI, or earlier versions of Otteroo infant flotation rings.
More broadly, CPSC has consistently cautioned caregivers that neck floats are not safety devices and that drowning can occur quickly and silently, even when an infant appears to be supported by a flotation product.
“Infant neck floats have long been among the most concerning product categories in the aquatic marketplace,” said Acting Chairman Peter A. Feldman. “These mandatory standards reduce some of the known risks associated with this product category, but they do not eliminate them.  Accordingly, the Commission reiterates its longstanding warnings to families about the unique drowning hazards these products present.  No flotation product can substitute for constant adult supervision.”
Even partial slip-throughs can be fatal, and drowning can be quick and silent, often occurring in seconds. While using neck floats, CPSC advises caregivers to:

Always stay within arm’s reach of the child to keep their mouth above the water.
Follow the age and weight limits stated on the product.
For products with inflatable components, follow the manufacturer’s guidance to properly inflate the product and verify that there are no leaks every time it is used.

Visit CPSC’s Pool Safely website for more information to keep your family safe in and around water. 

About the U.S. CPSCThe U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. Since the CPSC was established more than 50 years ago, it has worked to ensure the safety of consumer products, which has contributed to a decline in injuries associated with these products. 
Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.
For lifesaving information:

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New Foreign Direct Investment in the United States, 2025

Source: US Bureau of Economic Analysis

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $232.2 billion in 2025, according to preliminary statistics released today by the U.S. Bureau of Economic Analysis. Expenditures increased $76.8 billion, or 49.5 percent, from 2024 levels.  As in previous years, acquisitions of existing U.S. businesses accounted for most of the expenditures.

Acquisition expenditures in 2025 were $218.4 billion, expenditures to establish new U.S. businesses were $4.6 billion, and expenditures to expand existing foreign-owned businesses were $9.2 billion. Planned total expenditures, which include both first-year and planned future expenditures, were $284.5 billion.

Employment in 2025 at newly acquired, established, or expanded foreign-owned businesses in the United States was 213,100 employees.

Expenditures by industry, country, and state

By industry, expenditures for new direct investment were largest in publishing industries ($50.7 billion), followed by chemicals manufacturing ($45.4 billion) and plastics and rubber products manufacturing ($19.0 billion). The manufacturing sector ($121.8 billion) accounted for 52.5 percent of total expenditures.

The country with the largest investment was Japan ($50.5 billion), followed by Germany ($26.7 billion) and Canada ($23.5 billion).1 By region, Europe contributed the most new investment, $116.6 billion, or 50.2 percent of all new investment in 2025. Asia and Pacific was the second-largest investing region, with $71.9 billion in expenditures.

By state, California received the most investment in 2025, with $59.7 billion in first-year investment expenditures, followed by Texas ($21.5 billion) and Pennsylvania ($20.9 billion).

Greenfield expenditures

Greenfield investment expenditures—expenditures to establish a new U.S. business or to expand an existing foreign-owned U.S. business—were $13.8 billion in 2025. By industry, greenfield expenditures were largest in transportation and warehousing ($3.6 billion), computers and electronics products manufacturing ($2.0 billion), and chemicals manufacturing ($1.8 billion). By region, investors from Asia and Pacific contributed the highest dollar value of greenfield expenditures ($8.3 billion), led by Australia ($3.0 billion), South Korea ($2.2 billion), and Japan ($1.7 billion). By state, Louisiana ($3.0 billion), Arizona ($2.7 billion), and Texas ($1.9 billion) received the highest levels of greenfield investment.

Planned total expenditures for greenfield investment initiated in 2025, which include both first-year and planned future expenditures, were $66.1 billion.

Employment by industry, country, and state

In 2025, current employment of acquired enterprises was 211,700. Total planned employment, which includes the current employment of acquired enterprises, the planned employment of newly established business enterprises when fully operational, and the planned employment associated with expansions, was 232,400.

By industry, plastics and rubber parts manufacturing accounted for the largest number of current employees (21,800), followed by transportation equipment manufacturing (17,300) and primary and fabricated metals manufacturing (16,400). Mexico (54,600), Canada (29,500), and the United Kingdom (26,800) accounted for the largest number of current employees by country. California (37,200) was the state with the largest current employment resulting from new investment, followed by Illinois (17,600) and Texas (16,500).

Updates to 2024 Expenditures for
New Foreign Direct Investment in the United States
Billions of dollars
  Previously Published Revised
First-year expenditures 151.0 155.3
    U.S. businesses acquired 143.0 146.4
    U.S. businesses established 6.3 6.4
    U.S. businesses expanded 1.8 2.5
Planned total expenditures 157.0 164.0
    U.S. businesses acquired 143.0 146.4
    U.S. businesses established 7.8 8.2
    U.S. businesses expanded 6.2 9.4
U.S. Bureau of Economic Analysis

Related Data Tables

For the 2025 new foreign direct investment statistics highlighted in this release, as well as estimates for earlier years, see the below data tables in “Supplemental Data.”

First-year and planned total expenditures 
First-Year and Planned Total Expenditures, Industry of Affiliate by Type of Investment 
First-Year and Planned Total Expenditures, Country of UBO by Type of Investment
First-Year and Planned Total Expenditures, State by Type of Investment

First-Year and Planned Total Expenditures, Industry of UBO by Type of Investment
First-Year and Planned Total Expenditures, by Industry of Affiliate (All Industries)
First-Year and Planned Total Expenditures, by Country of UBO (All Countries)

First-Year Expenditures, Country of UBO by Industry of Affiliate
First-Year Expenditures, Country of Foreign Parent and UBO
Planned Total Expenditures for Establishments and Expansions, by Type of Expenditure

Greenfield investments (expenditures for U.S. businesses established and expanded)
Planned Expenditures for Greenfield Investments, Type of Investment by Year
Planned Expenditures for Greenfield Investments, Industry of Affiliate by Year
Planned Expenditures for Greenfield Investments, Country of UBO by Year
Planned Expenditures for Greenfield Investments, State by Year
Expenditures for Greenfield Investments, Year of Investment Expenditure by Year Investment Was Initiated

Employment
Current and Planned Employment, Industry of Affiliate by Type of Investment
Current and Planned Employment, Country of UBO by Type of Investment
Current and Planned Employment, State by Type of Investment

No longer produced: Number of investments by size (supplemental data tables)
Number of investments initiated, Distribution of Planned Total Expenditures, Size by Type of Investment 

Note. BEA has updated its disclosure avoidance method to coarsening, which includes rounding, aggregation, and the use of ranges. This allows BEA to publish more data, while still providing confidentiality to BEA’s survey respondents. BEA did not use cell suppression or noise infusion.

For resources, definitions, and more, visit “Additional Information.”

Next release: June 2027
New Foreign Direct Investment in the United States, 2026

1 As measured by country of ultimate beneficial owner (UBO; see “Additional Information” for a description).

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Statement of Acting Chairman Peter A. Feldman on the Nomination of Brien Lorenze to the Consumer Product Safety Commission

Source: US Consumer Product Safety Commission

Release Date: June 02, 2026

WASHINGTON, D.C. – I congratulate Brien Lorenze on his nomination to serve as a Commissioner of the U.S. Consumer Product Safety Commission. I am grateful to President Trump for his continued support of CPSC and commitment to appointing experienced, results-oriented public servants to positions of public trust.
Brien has distinguished himself as a thoughtful leader, trusted advisor, and dedicated public servant. As Executive Director of CPSC, he has helped guide the Commission through a period of significant modernization while maintaining a steadfast commitment to our core mission of protecting American consumers.
Brien possesses a rare combination of policy expertise, operational acumen, and sound judgment. He understands the Commission’s work from the ground up, values the contributions of career staff, and has consistently demonstrated a willingness to tackle difficult challenges in service of the American people. The agency is stronger today because of his efforts.
American families will benefit from Brien’s experience, integrity, and dedication to consumer protection. I am grateful for his counsel and friendship. I look forward to continuing our work together and wish him every success during the confirmation process.

Release Number
26-523

About the U.S. CPSCThe U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. Since the CPSC was established more than 50 years ago, it has worked to ensure the safety of consumer products, which has contributed to a decline in injuries associated with these products. 
Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.
For lifesaving information:

Report an unsafe product

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Statement of Acting Chairman Peter A. Feldman on Granting the Child-Resistant Pool Ladder Petition and Renewing CPSC’s Focus on Drowning Prevention

Source: US Consumer Product Safety Commission

WASHINGTON, D.C. – Drowning remains the leading cause of death for children ages one through four in the United States.
For too long, drowning prevention has not received the level of sustained attention this hazard demands. That is now changing.
The U.S. Consumer Product Safety Commission is committed to marshalling the full weight of its authorities and resources to reverse drowning trends nationwide.
Over the past year, the Commission has intensified its focus on drowning and water-safety hazards, including dangerous pool designs, unsafe access points, entrapment risks, and other conditions that can permit unsupervised child access to water. Today’s action is part of that broader effort.
The Commission granted Petition CP 25-2 regarding child-resistant ladders intended for use with aboveground and portable pools because the record demonstrates that this issue warrants further action.
CPSC staff identified 128 reported fatal drowning incidents involving children under five years of age between 2020 and 2025 in cases where pool ladders were reported or believed to have been used to enter aboveground or portable pools. These preventable tragedies demonstrate that pool access remains a significant safety challenge and that additional measures are necessary to reduce the risk of child drowning.
The evidence before the Commission also demonstrates that existing standards do not currently provide a measurable and objective definition of what constitutes a child-resistant ladder. That gap must be addressed.
Today, the Commission directed staff to continue its work with ASTM, PHTA, medical experts, consumer advocates and industry stakeholders to develop meaningful performance requirements, objective measures of child resistance and stronger warnings designed to improve consumer engagement with safety features. The Commission expects this effort to move forward promptly and produce meaningful results. If adequate progress is not achieved, mandatory federal requirements remain on the table.
Every drowning death represents a family tragedy. Many are preventable.
Protecting children from drowning is one of the most important safety challenges facing this agency. The Commission will continue to pursue practical, data-driven solutions that reduce risk, save lives and help prevent tragedies before they occur.
Whether the hazard involves pool design, barriers, ladders, entrapment risks or other means of unsupervised water access, the Commission will remain focused on one objective: keeping children safe in and around water.

About the U.S. CPSCThe U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. Since the CPSC was established more than 50 years ago, it has worked to ensure the safety of consumer products, which has contributed to a decline in injuries associated with these products. 
Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.
For lifesaving information:

Posted on

U.S. International Trade in Goods and Services, April 2026

Source: US Bureau of Economic Analysis

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $55.9 billion in April, down $0.7 billion from $56.6 billion in March, revised.

U.S. International Trade in Goods and Services Deficit
Deficit: $55.9 Billion –1.2%°
Exports: $327.1 Billion +2.6%°
Imports: $383.0 Billion +2.0%°

Next release: Tuesday, July 7, 2026

(°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes

Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, June 9, 2026

Exports, Imports, and Balance (exhibit 1)

April exports were $327.1 billion, $8.3 billion more than March exports. April imports were $383.0 billion, $7.6 billion more than March imports.

The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.4 billion to $83.7 billion and a decrease in the services surplus of $1.7 billion to $27.8 billion.

Year-to-date, the goods and services deficit decreased $213.5 billion, or 49.1 percent, from the same period in 2025. Exports increased $128.2 billion or 11.3 percent. Imports decreased $85.3 billion or 5.5 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit increased $0.6 billion to $55.8 billion for the three months ending in April.

  • Average exports increased $9.1 billion to $319.2 billion in April.
  • Average imports increased $9.7 billion to $375.0 billion in April.

Year-over-year, the average goods and services deficit decreased $47.6 billion from the three months ending in April 2025.

  • Average exports increased $34.4 billion from April 2025.
  • Average imports decreased $13.3 billion from April 2025.

Exports (exhibits 3, 6, and 7)

Exports of goods increased $8.7 billion to $221.3 billion in April.

  Exports of goods on a Census basis increased $8.0 billion.

  • Capital goods increased $4.0 billion.
    • Computers increased $2.5 billion.
    • Civilian aircraft increased $1.0 billion.
  • Industrial supplies and materials increased $2.5 billion.
    • Crude oil increased $6.4 billion.
    • Fuel oil increased $1.3 billion.
    • Other petroleum products increased $1.0 billion.
    • Nonmonetary gold decreased $5.8 billion.
    • Other precious metals decreased $1.9 billion.
  • Consumer goods increased $1.7 billion.

  Net balance of payments adjustments increased $0.7 billion.

Exports of services decreased $0.4 billion to $105.8 billion in April.

  • Travel decreased $0.3 billion.
  • Transport decreased $0.2 billion.
  • Maintenance and repair services decreased $0.2 billion.
  • Other business services increased $0.2 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods increased $6.4 billion to $304.9 billion in April.

  Imports of goods on a Census basis increased $5.9 billion.

  • Capital goods increased $7.0 billion.
    • Computers increased $2.2 billion.
    • Semiconductors increased $1.7 billion.
    • Telecommunications equipment increased $1.6 billion.

  Net balance of payments adjustments increased $0.4 billion.

Imports of services increased $1.3 billion to $78.0 billion in April.

  • Transport increased $0.4 billion.
  • Travel increased $0.4 billion.
  • Insurance services increased $0.3 billion.

Real Goods in 2017 Dollars – Census Basis (exhibit 11)

The real goods deficit decreased $1.5 billion, or 1.8 percent, to $84.3 billion in April, compared to a 2.5 percent decrease in the nominal deficit.

  • Real exports of goods increased $1.2 billion, or 0.7 percent, to $165.4 billion, compared to a 3.8 percent increase in nominal exports.
  • Real imports of goods decreased $0.3 billion, or 0.1 percent, to $249.7 billion, compared to a 2.0 percent increase in nominal imports.

Revisions

Exports and imports of goods and services for all months through March 2026 shown in this release reflect the incorporation of annual revisions to the goods and services series. See the “Notice” in this release for a description of the revisions.

Revisions to March exports

  • Exports of goods were revised down $0.9 billion.
  • Exports of services were revised down $1.1 billion.

Revisions to March imports

  • Imports of goods were revised down $3.6 billion.
  • Imports of services were revised down $2.2 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)

The April figures show surpluses, in billions of dollars, with Netherlands ($8.5), South and Central America ($7.8), Hong Kong ($6.1), Switzerland ($4.4), Singapore ($3.1), United Kingdom ($2.6), Brazil ($2.2), Australia ($2.1), Belgium ($1.4), and Israel ($0.1). Deficits were recorded, in billions of dollars, with Taiwan ($19.3), Vietnam ($19.3), Mexico ($14.8), China ($12.0), European Union ($7.2), Canada ($6.2), Germany ($5.6), South Korea ($4.7), Ireland ($2.9), Japan ($2.8), Malaysia ($2.6), India ($2.4), France ($2.4), Italy ($2.3), and Saudi Arabia (less than $0.1).

  • The deficit with China decreased $2.6 billion to $12.0 billion in April. Exports decreased $0.2 billion to $10.1 billion and imports decreased $2.9 billion to $22.1 billion.
  • The surplus with South and Central America increased $2.6 billion to $7.8 billion in April. Exports increased $2.1 billion to $21.6 billion and imports decreased $0.4 billion to $13.8 billion.
  • The surplus with the United Kingdom decreased $3.8 billion to $2.6 billion in April. Exports decreased $4.3 billion to $7.8 billion and imports decreased $0.5 billion to $5.2 billion.

Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis (exhibit 20)

Statistics on trade in goods and services by country and area are only available quarterly, with a one-month lag. With this release, first-quarter figures are now available.

The first-quarter figures show surpluses, in billions of dollars, with Netherlands ($26.4), United Kingdom ($22.6), Switzerland ($21.3), Hong Kong ($15.5), Singapore ($14.2), Brazil ($12.2), South and Central America ($10.4), Ireland ($9.4), European Union ($9.2), Australia ($9.2), Saudi Arabia ($4.6), and Belgium ($2.2). Deficits were recorded, in billions of dollars, with Taiwan ($59.1), Vietnam ($54.2), Mexico ($43.1), China ($30.4), South Korea ($15.7), Germany ($14.0), India ($11.1), Malaysia ($10.7), Japan ($9.5), Italy ($8.7), France ($5.6), Canada ($1.9), and Israel ($1.8).

  • The balance with the European Union shifted from a deficit of $3.0 billion in the fourth quarter to a surplus of $9.2 billion in the first quarter. Exports increased $6.3 billion to $194.6 billion and imports decreased $5.9 billion to $185.4 billion.
  • The surplus with Hong Kong increased $7.9 billion to $15.5 billion in the first quarter. Exports increased $8.2 billion to $20.4 billion and imports increased $0.3 billion to $4.8 billion.
  • The deficit with Taiwan increased $7.5 billion to $59.1 billion in the first quarter. Exports increased $0.2 billion to $19.1 billion and imports increased $7.7 billion to $78.2 billion.

All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.

Next release: July 7, 2026
U.S. International Trade in Goods and Services, May 2026

Notice

Updates to Goods and Services

In this release and in the accompanying “U.S. International Trade in Goods and Services, Annual Revision” release, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on trade in goods and services. With these releases, statistics on trade in goods are revised beginning with 2021, and statistics on trade in services are revised beginning with 1999.

Revised statistics on trade in goods reflect:

  • Corrections and adjustments to previously published not seasonally adjusted statistics for goods on a Census basis.
  • End-use reclassifications of several commodities.
  • Recalculated seasonal and trading-day adjustments.
  • Newly available and revised source data on balance of payments (BOP) adjustments, which are adjustments that BEA applies to goods on a Census basis to convert them to a BOP basis. See the “Goods (balance of payments basis)” section in the explanatory notes for more information.

Revised statistics on trade in services reflect:

  • Newly available and revised source data, primarily from BEA surveys of international services.
  • Improvements to the method for estimating transport services.
  • Corrections and adjustments to previously published not seasonally adjusted statistics.
  • Recalculated seasonal adjustments.
  • Revised temporal distributions of quarterly source data to monthly statistics. See the “Services” section in the explanatory notes for more information.

This annual revision generally has not changed the overall trend in the annual goods and services deficit. For 1999–2024, the deficit was revised down by an average of 3.2 percent, reflecting upward revisions to the services surplus that averaged 12.8 percent. For 2025, the deficit was revised up 2.2 percent, reflecting a 1.5 percent upward revision to the goods deficit.

The revised statistics for goods on a BOP basis and for services will also be included in the “U.S. International Transactions and Investment Position, 1st Quarter 2026 and Annual Update” report and in BEA’s Interactive Data Application, both to be released by BEA on June 24, 2026. For more information, see “Preview of the 2026 Annual Update of the International Economic Accounts” in the Survey of Current Business.

If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, International Trade Macro Analysis Branch, on 800-549-0595, option 4, or at eid.international.trade.data@census.gov or BEA, Balance of Payments Division, at InternationalAccounts@bea.gov.