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www.bea.gov
An Overview of BEA’sOther Data Programs
Charles Ian MeadPNREAP Regional Workshop
Reno, NV
September 29, 2009
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Products of Other Directorates
▪ National Economic Accounts Gross Domestic Product (GDP) Personal income
▪ International Economic Accounts International transactions Direct investments Operations of U.S. and foreign
multinationals
▪ Industry Accounts Input-output accounts GDP by industry Satellite accounts (e.g., travel and tourism)
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Products of the Regional Directorate
▪Personal income by state and local areas
▪GDP by state and metropolitan area
▪Regional economic multipliers (RIMS II)
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Three Ways to Measure GDP
▪Value added approach: Gross output less intermediate inputs
▪Expenditure approach: C + I + G + NX
▪ Income approach Compensation of employees Taxes on production and imports
(TOPI) less subsidies Gross operating surplus
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National Income and Product Accounts
▪Expenditure and income measures
▪Main focus on U.S. economy Three main sectors, plus “rest of the
world” Industry detail limited to a few items
(e.g., compensation, corporate profits)
▪Price and quantity indexes based on expenditures
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Main Industry Accounts
▪ Input-Output Accounts Show structure of U.S. economy “Use table” shows GDP measured all
three ways
▪GDP by Industry Value added approach “Double deflation” for price and
quantity indexes
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GDP by State and Metro Area
▪Counterpart of U.S. GDP measures By state: Most detailed methodology By metro area: Covers 90 percent of
all U.S. economic activity
▪Primarily based on an income approach
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Currently Available statistics
▪Annual data from 1963-2008
▪Total GDP and components (for states) by industry 1963-1997: 2-digit SIC industries 1997-2008: NAICS sectors or sub-
sectors
▪Current dollars, chained (2000) dollars, and quantity indexes
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Chain Dollar Statistics
▪Based on “implicit” price deflators
▪National-level prices by industry are used
▪Do not account for possible differences in Prices of the same goods across
regions The use of intermediate inputs across
regions
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Release Schedule
▪GDP by state: June following the reference year
▪GDP by metropolitan area: September following the reference year
▪Note: Next year is an exception due to comprehensive revision
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Percent Change in Real GDP by State
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Percent Change in Real GDP by Metro Area
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Recent Improvements
▪Acceleration of industry detail for GDP by state by a full year (2005)
▪Development of GDP by metropolitan area statistics (2007)
▪Acceleration of GDP by metropolitan area by a full year (2009)
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Future Improvements
▪ Incorporation of recent changes made in the NIPAs (2010-2011) New treatment of disasters Cafeteria plans Misreporting adjustments
▪Capitalization of R&D expenditures (2013)
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RIMS II
▪Multipliers for regional impact analyses
▪Many different types available▪Examples of analyses
Military base closure New sports stadium New highway construction
▪Based on data from Industry and Regional accounts
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Availability
▪Current multiplier sets 2006: 60 aggregated industries 1997: 473 detailed industries
▪Customized product for a fee By user-defined region By industry
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Improvements
▪Recent improvements Online order and delivery system:
Orders in 1-2 days rather than 1-2 weeks (2006)
Introduction of value added multipliers (2007)
▪Future improvements: Detailed industry multipliers for 2002 (early 2010)