Gross domestic product by industry for 1947-86: new estimates based on the North American Industry Classification System

LAST month, the Bureau of Economic Analysis (BEA) released new estimates of gross domestic product (GDP) by industry for 1947-1986 that are based on the 1997 North American Industry Classification System (NAICS). For 1947-1986, BEA prepared both current-dollar and real value-added-by-industry estima...

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Bibliographic Details
Published in:Survey of Current Business 2005-12, Vol.85 (12), p.70
Main Authors: Yuskavage, Robert E, Fahim-Nader, Mahnaz
Format: Article
Language:English
Subjects:
Business services
Classification
Economic aspects
Economic growth
Economic statistics
Educational services
Electric rates
Estimates
GDP
Gross Domestic Product
Leasing
Manufacturing
North American Industry Classification System
Prices
Recessions
Statistics
Time series
Trends
Value added
World War II
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Summary:LAST month, the Bureau of Economic Analysis (BEA) released new estimates of gross domestic product (GDP) by industry for 1947-1986 that are based on the 1997 North American Industry Classification System (NAICS). For 1947-1986, BEA prepared both current-dollar and real value-added-by-industry estimates. The new NAICS-based estimates allow for a better understanding of the sources of the services sector's growth as a share of the economy since World War II. The new historical NAICS-based estimates of GDP by industry include value-added quantity indexes and price indexes that are consistent with BEA's Fisher index measures of real GDP growth and price change. Real estimates of value added were prepared for each of the 65 detailed industries and for related industry groups and aggregates, including private industries and "all industries." In addition, the aggregation of the NAICS-based estimates over "all industries" yields an estimate that closely matches BEA's measure of real GDP growth.
ISSN:0039-6222
1937-4534