Measurement of the U.S. Economy is a Job that Never Stops; Here’s Why GDP Numbers Get Revised

Like fireworks and baseball, BEA’s annual revision of GDP is a summer tradition. Toward the end of every July, the U.S. Bureau of Economic Analysis incorporates previously unavailable sources of data for the past three years into its estimates of the U.S. 827 more words

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5 Q’s for U.S. Department of Commerce’s Under Secretary of Economic Affairs Mark Doms

The Center for Data Innovation spoke with Mark Doms, Under Secretary of Economic Affairs at the U.S. Department of Commerce, in Washington, DC. Under Secretary Doms discussed the current efforts at the Commerce Department to increase the availability and timeliness of high-quality data, as well as promote data-driven innovation in the government and economy. 1,067 more words

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Looking for Economic Information on Coastal Areas? Visit BEA’s Website

How much economic activity is generated by a state in a coastal area? How much do people living in coastal areas earn?

A visit to BEA’s… 185 more words

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BEA to Release Modified Regional Input-Output Model in 2015

The Bureau of Economic Analysis plans to release in 2015 a modified economic model to replace the original Regional Input-Output Modeling System (RIMS II).  Cost savings will be realized because the modified model will be updated less frequently. 163 more words

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May 2014 Trade Gap is $44.4 Billion

The U.S. monthly international trade deficit decreased in May 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.0 billion in April (revised) to $44.4 billion in May as exports increased and imports decreased. 267 more words

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How BEA Regional Data is Used to Distribute Federal Funds to State, Local Governments

Did you know that each year BEA regional economic statistics, such as annual personal income and per capita personal income are used to allocate billions of dollars in federal funds to states and local governments?   108 more words

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