UNITED STATES—On May 26, the Bureau of Economic Analysis (BEA) released its latest report on the state of the economy for 2022 indicating the real gross domestic product (GDP) decreased in the first quarter of 2022 at the annual rate of 1.5 percent following an increase of 6.9 percent in the fourth quarter of 2021.

BEA reports a revised decrease down 0.1 percent from what they called the “advance” estimate in April 2021 due to a resurgence of COVID-19 Omicron cases.

Personal Income and Outlays stood at +0.4 percent for April 2022, down from n increase of 0.5 percent in March.

The International Economic Accounts reveal a difference in the U.S. International Transactions between the fourth quarter of year 2021 compared to Annual 2020, and 2021 percentages:

-Q4 2021 -$217.9B

-Q3 2021 -$219.9B

-Annual 2021 -$821.6B

-Annual 2020 -$616.1B

The U.S. International Investment Position in the fourth quarter is down by trillions in the last two years. Projections are all from the end of the quarter of their prospective years:

-Q4 2021 -$18.10T

-Q3 2021 -$16.35T

End of Year

-2021 -$18.10T

-2020 -$14.01T

International Trade

-April 2022 -$87.1B

-March 2022 -$107.7B

Goods And Trade Deficit

New Foreign Direct Investments in the United States were $120.7B in 2020 down 45.4 percent from $221.2B in 2019.

Surging gas prices, empty grocery store shelves, baby formula shortages, the cost of lumber, and the wait for supply for construction materials, furniture, and other items has increased drastically over the last several months.