The BEA is one of the principal agencies of the U.S. Federal Statistical System.[1] Its stated mission is to "promote a better understanding of the U.S. economy by providing the most timely, relevant, and accurate economic data in an objective and cost-effective manner".[2]
BEA has about 500 employees and an annual budget of approximately $101 million.[3]
The BEA regularly publishes reports, including monthly analysis titled the Survey of Current Business.
BEA's national economic statistics (National Economic Accounts) provide a comprehensive view of U.S. production, consumption, investment, exports and imports, and income and saving. These statistics are best known by summary measures such as gross domestic product (GDP), corporate profits, personal income and spending, and personal saving.
The National Income and Product Accounts (NIPAs) provide information about personal income, corporate profits, government spending, fixed assets, and changes in the net worth of the U.S. Economy.[4]
The industry economic accounts, presented both in an input-output framework and as annual output by each industry, provide a detailed view of the interrelationships between U.S. producers and users and the contribution to production across industries. These accounts are used extensively by policymakers and businesses to understand industry interactions, productivity trends, and the changing structure of the U.S. economy.
There are quarterly and annual reports for "GDP by Industry Accounts", designed for analysis of a specific industry's contribution to overall economic growth and inflation.
Regional Economic Accounts
The regional economic accounts provide information about the geographic distribution of U.S. economic activity and growth. The estimates of gross domestic product (GDP) by state and state and local area personal income (PI), and the accompanying detail, provide a consistent framework for analyzing and comparing individual state and local area economies.[6]
Uses of the regional program estimates
The Federal government uses regional income and product estimates to distribute funds to states:
BEA Regional Income and Product Account Estimates Used to Distribute $406.8 Billion in Federal Funds
FY2016 Federal Funds Distribution Using BEA Regional Income and Product Account Statistics
Federal Uses of BEA Regional Statistics, FY2016
Twenty-six states have set constitutional or statutory limits on state government revenues or spending that are tied to BEA state personal income or one of its components
The National Oceanic and Atmospheric Administration (NOAA) produces statistics for coastal areas, utilizing BEA regional statistics.
Academic researchers use the estimates for applied economic research.
Businesses, trade associations, and labor organizations use the estimates for market research.[6]
Regional Program
The regional program maintains a partnership with a group of users, its members including State agencies, universities, and Census Primary State Data Centers. Users disseminate regional data and give feedback on our estimates and the presentation of the estimates. Distribution in this way encourages State universities and State agencies to use data that are comparable for all States and counties and consistent with national totals, thus enhancing the uniformity of analytic approaches taken in economic development programs and improving the recipients' ability to assess local area economic developments and to service their local clientele.[6]
International
The international transactions accounts provide information on trade in goods and services (including the balance of payments and the balance of trade), investment income, and government and private financial flows. In addition, the accounts measure the value of U.S. international assets and liabilities and direct investment by multinational enterprises. BEA’s data on direct investment— the most detailed data set on the activities of multinational enterprises (MNEs) available—are used to assess the role these business enterprises play in the global economy.
History
An earlier Office of Business Economics produced GNP statistics and was renamed to become the BEA in a reorganization of January 1, 1972.[7] An earlier administrative history is available on the site of the U.S. National Archives.[8]
^. Bureau of Economic Analysis. Archived from the original on 4 March 2021. Retrieved 4 March 2021.
^. Bureau of Economic Analysis. Archived from the original on 2008-05-13. Retrieved 2008-06-29.
^"Statistical Programs of the United States Government" (PDF). Executive Office of the President: Office Management and Budget. pp. 25, 153. Retrieved 2020-12-28.
^U.S. Bureau of Economic Analysis (BEA). (PDF). Archived from the original (PDF) on 2017-04-29. 6/21/2016.
^U.S. Bureau of Economic Analysis. "Measuring the Economy. Primer on GDP and the National Income and Product Accounts" (PDF). December 2015.
^ abc"Regional Economic Accounts: About Regional". US Department of Commerce. Retrieved 4 April 2018. This article incorporates text from this source, which is in the public domain.
^John W. Kendrick, assisted by Maude R. Pech. 1973. Postwar productivity trends in the United States, 1948-1969. New York: NBER, page xx.
^Records of the Bureau of Economic Analysis at NARA web site
External links
Wikimedia Commons has media related to Bureau of Economic Analysis.
Measuring the Economy from the BEA has information about what GDP is, and brief summaries about the summaries created by the BEA.
February 02, 2023
bureau, economic, analysis, united, states, department, commerce, government, agency, that, provides, official, macroeconomic, industry, statistics, most, notably, reports, about, gross, domestic, product, united, states, various, units, states, cities, towns,. The Bureau of Economic Analysis BEA of the United States Department of Commerce is a U S government agency that provides official macroeconomic and industry statistics most notably reports about the gross domestic product GDP of the United States and its various units states cities towns townships villages counties and metropolitan areas They also provide information about personal income corporate profits and government spending in their National Income and Product Accounts NIPAs Bureau of Economic AnalysisLogo of the Bureau of Economic AnalysisAgency overviewFormedJanuary 1 1972 51 years ago 1972 01 01 Preceding agencyOffice of Business EconomicsHeadquartersSuitland MDEmployees500Annual budget 101 million FY2019 Agency executivesVipin Arora DirectorMary Bohman Deputy DirectorParent departmentDepartment of CommerceWebsitewww bea govThe BEA is one of the principal agencies of the U S Federal Statistical System 1 Its stated mission is to promote a better understanding of the U S economy by providing the most timely relevant and accurate economic data in an objective and cost effective manner 2 BEA has about 500 employees and an annual budget of approximately 101 million 3 Contents 1 National accounts 2 Industry accounts 3 Regional Economic Accounts 3 1 Uses of the regional program estimates 3 2 Regional Program 4 International 5 History 6 See also 7 References 8 External linksNational accounts Edit The BEA regularly publishes reports including monthly analysis titled the Survey of Current Business BEA s national economic statistics National Economic Accounts provide a comprehensive view of U S production consumption investment exports and imports and income and saving These statistics are best known by summary measures such as gross domestic product GDP corporate profits personal income and spending and personal saving The National Income and Product Accounts NIPAs provide information about personal income corporate profits government spending fixed assets and changes in the net worth of the U S Economy 4 The accounts also include other approaches and methods of measuring income and spending such as the gross domestic income GDI and gross national income GNI 5 Industry accounts EditThe industry economic accounts presented both in an input output framework and as annual output by each industry provide a detailed view of the interrelationships between U S producers and users and the contribution to production across industries These accounts are used extensively by policymakers and businesses to understand industry interactions productivity trends and the changing structure of the U S economy There are quarterly and annual reports for GDP by Industry Accounts designed for analysis of a specific industry s contribution to overall economic growth and inflation Regional Economic Accounts EditThe regional economic accounts provide information about the geographic distribution of U S economic activity and growth The estimates of gross domestic product GDP by state and state and local area personal income PI and the accompanying detail provide a consistent framework for analyzing and comparing individual state and local area economies 6 Uses of the regional program estimates Edit The Federal government uses regional income and product estimates to distribute funds to states BEA Regional Income and Product Account Estimates Used to Distribute 406 8 Billion in Federal Funds FY2016 Federal Funds Distribution Using BEA Regional Income and Product Account Statistics Federal Uses of BEA Regional Statistics FY2016 Twenty six states have set constitutional or statutory limits on state government revenues or spending that are tied to BEA state personal income or one of its components The National Oceanic and Atmospheric Administration NOAA produces statistics for coastal areas utilizing BEA regional statistics Academic researchers use the estimates for applied economic research Businesses trade associations and labor organizations use the estimates for market research 6 Regional Program Edit The regional program maintains a partnership with a group of users its members including State agencies universities and Census Primary State Data Centers Users disseminate regional data and give feedback on our estimates and the presentation of the estimates Distribution in this way encourages State universities and State agencies to use data that are comparable for all States and counties and consistent with national totals thus enhancing the uniformity of analytic approaches taken in economic development programs and improving the recipients ability to assess local area economic developments and to service their local clientele 6 International EditThe international transactions accounts provide information on trade in goods and services including the balance of payments and the balance of trade investment income and government and private financial flows In addition the accounts measure the value of U S international assets and liabilities and direct investment by multinational enterprises BEA s data on direct investment the most detailed data set on the activities of multinational enterprises MNEs available are used to assess the role these business enterprises play in the global economy History EditAn earlier Office of Business Economics produced GNP statistics and was renamed to become the BEA in a reorganization of January 1 1972 7 An earlier administrative history is available on the site of the U S National Archives 8 See also Edit United States portal Politics portal Economics portalTitle 15 of the Code of Federal Regulations Bureau of the Census Bureau of Labor Statistics Consumer Leverage Ratio Bureau of Economic Analysis regions Survey of Current Business the monthly publication of the BEA that includes their official statisticsReferences Edit U S Economy at a Glance Bureau of Economic Analysis Archived from the original on 4 March 2021 Retrieved 4 March 2021 BEA Mission Vision and Values Bureau of Economic Analysis Archived from the original on 2008 05 13 Retrieved 2008 06 29 Statistical Programs of the United States Government PDF Executive Office of the President Office Management and Budget pp 25 153 Retrieved 2020 12 28 U S Bureau of Economic Analysis BEA BEA Economic Accounts PDF Archived from the original PDF on 2017 04 29 6 21 2016 U S Bureau of Economic Analysis Measuring the Economy Primer on GDP and the National Income and Product Accounts PDF December 2015 a b c Regional Economic Accounts About Regional US Department of Commerce Retrieved 4 April 2018 This article incorporates text from this source which is in the public domain John W Kendrick assisted by Maude R Pech 1973 Postwar productivity trends in the United States 1948 1969 New York NBER page xx Records of the Bureau of Economic Analysis at NARA web siteExternal links Edit Wikimedia Commons has media related to Bureau of Economic Analysis Official website Bureau of Economic Analysis in the Federal Register Brief history of Bureau of Economic Analysis BEA Data Application Programming Interface API Measuring the Economy from the BEA has information about what GDP is and brief summaries about the summaries created by the BEA Retrieved from https en wikipedia org w index php title Bureau of Economic Analysis amp oldid 1125908177, wikipedia, wiki, book, books, library,
