. Many economists work in federal, state, and local government. . The decrease in private goods-producing industries largely reflected a decrease in durable goods manufacturing (led by motor vehicles, bodies and trailers, and parts). . These sources included the EIU itself, IMPLAN, the National Science Foundation, the US Bureau of Economic Analysis, the US Bureau of Labor Statistics, and the US Census Bureau. . . 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 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. Distributed by Public, unedited and unaltered, on 13 October 2020 13:49:07 UTC. . . . BEA's strategic plan-based on input from our customers, stakeholders, and employees-is built around four main goals: 1. . The decrease in exports primarily reflected a decrease in goods (led by capital goods). An official website of the United States government, GDP is a comprehensive measure of the U.S. economy and its growth, Measures industries' performance and their contributions to GDP, The nation's primary measure of consumer spending, or personal consumption expenditures, Measures inflation in the prices paid by people living in the United States, The core PCE price index excludes two volatile categories to reveal underlying inflation, Wages, Social Security, interest, rents, and other income received by U.S. residents, The income that's left after people pay their taxes, The percentage of people's disposable income that they save instead of spending, A key measure of the financial health of corporate America, Another way of measuring GDP, using incomes instead of spending, A measure of an industry's sales or receipts, A data set showing how industries interact with each other and with the rest of the economy, Measures the nation's number of full- and part-time workers, as well as the self-employed, Shows the industry-level sources of economic growth, Measures changes in prices paid for goods and services produced in the United States, A price measure very similar to the GDP price index, BEA's featured measure of price changes in the U.S. economy overall, Measure price levels that can be compared across states or metro areas, Measures spending to treat diseases and provides price indexes of treatments, Buildings, trucks, software, and more used in production for at least a year, The fixed assets owned by different industries, The lasting assets owned by national, state, and local government, Taxes, spending, and other transactions of national, state, and local government. . Latest news "Economy & Forex" 05:59p: SOURCE ENERGY SERVICES: Announces Upcoming Earnings Release: PU. Please enable cookies on your browser and try again. . . . GDP statistics measure the growth or decline of each state's economy over time, with breakdowns by industry, and enable comparisons with other states and the nation. Software. . BEA - Bureau of Economic Analysis published this content on 30 September 2020 and is solely responsible for the information contained therein. . . … I have gone to the BEA's website … and it is very conveniently bea.gov. You can always find the release dates for the U.S. Bureau of Economic Analysis' state, national, industry, and international statistics at bea.gov/schedule. Good (3-4) 0 reviews . . . . Over the 12 months ended August 2020, the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent. . The BEA User Group disseminates regional data and gives feedback on our estimates and the presentation of the estimates. . Also included are implied rates of depreciation for selected aggregates by industry. . . . And we'll introduce inflation-adjusted consumer spending statistics for every state. An official website of the United States government. The tables under the heading “Relation of the NIPAs to the Corresponding Items in the FAAs” present the relationship between private fixed investment in the Fixed Assets Accounts to the corresponding items in the National Income and Product Accounts. An illustration of two photographs. To find a statistic, or to explore BEA's data, start with one of the groupings below. Measures changes in prices paid for goods and services produced in the United States GDP Price Deflator. [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". Want to stay on top of what's happening with state economies? The decrease in private services-producing industries reflected decreases in accommodation and food services (led by food services and drinking places); health care and social assistance (led by ambulatory health care); and transportation and warehousing (led by air transportation). The decrease in business investment primarily reflected a decrease in equipment (led by transportation equipment). . . 0. The deficit increased from $63.4 billion in July (revised) to $67.1 billion in August, as imports increased more than exports. BEA's strategic plan connects directly to the Department of Commerce's goals and objectives. BEA - Bureau of Economic Analysis published this content on 13 October 2020 and is solely responsible for the information contained therein. . . 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. 4.5. kununu Score. . State PCE, also known as consumer spending, reflects the value of the goods and services purchased by a state's households or on their behalf (such as medical bills paid by a person's insurance company). Customers increasingly expect quicker turnaround in producing statistics, increasing amounts of geographic and industry detail, and easier access to data through multiple channels. And we will give our employees the best environment possible for success: access to the latest technologies, secure information technology systems, and practical solutions that ensure our opera-tions will go on in the case of an emergency. For more details, including source data, see the Technical Note.Second-quarter GDP highlights. 05:56p: United Airlines slashes costs to prepare for … The decline in second-quarter GDP reflected the response to the spread of COVID-19, as 'stay-at-home' orders issued in March and April were partially lifted in some areas of the country in May and June. 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. The Bureau of Economic Analysis (BEA) is the world's trusted source for accurate and objec-tive data about the U.S. economy. . Distributed by Public, unedited and unaltered, on 13 October 2020 13:49:07 UTC. 100 % 100. Up.BEA's strategic plan connects directly to the Department of Commerce's goals and objectives. . . We will provide more detailed and consistent information on regions and industries, expand our statistics beyond the traditional gross domestic product accounts by featuring measures of economic well-being, and publish new data products that highlight emerging and growing economic sectors, such as outdoor recreation and the digital economy. . Profits of domestic financial corporations increased 6.1 percent after decreasing 8.9 percent. Culture Culture New. As a statistical agency, the majority of BEA's efforts link to the Department's strategic goal to "fulfill constitutional requirements and support economic activity;" however, the Bureau's objectives are designed to support the Department's other priorities as well. The COVID-19 pandemic brings the need for reliable economic information into even sharper focus. Wall Street gains on vaccine news, retail sales surprise, First Citizens to Buy CIT Group--2nd Update, Navistar Sets $44.50/Share Price Tag for Traton Deal, COVID curbs threaten UK economy, Wetherspoons says, as plunges to loss, Serco : shares jump after outsourcer lifts annual outlook, Norway's Scatec Solar to buy hydropower firm SN Power in $1.17 bln deal, Fed officials call for tougher regulation to prevent asset bubbles - FT, Thai central bank extends $16 billion soft loans for smaller firms by six months, U.S. CDC reports 217,918 total deaths from coronavirus, Europe crosses 150,000 daily coronavirus cases mark, a week after reporting 100,000 daily cases, Deloitte to shut four UK offices as COVID-19 entrenches remote working, Frozen food package polluted by living coronavirus could cause infection, China's CDC says, Boohoo prepares for appointment of new auditor, Moody's downgrades UK as COVID-19 and Brexit hit debt outlook. . Food prices increased 4.1 percent over the last 12 months.
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