A primer on BEA's industry accounts

While the Bureau of Economic Analysis' (BEA) featured measure of economic output, gross domestic product (GDP), provides an answer, people are often also interested in the industry dynamics playing out within the economy. Broadly speaking, BEA's industry accounts -- which include the annua...

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Bibliographic Details
Published in:Survey of Current Business 2009-06, Vol.89 (6), p.40
Main Author: Streitwieser, Mary L
Format: Article
Language:English
Subjects:
Benchmarks
Business enterprises
Economic aspects
Economic growth
Forecasts and trends
GDP
Gross Domestic Product
Input output analysis
Market trend/market analysis
Statistical data
United States economic conditions
Online Access:Get full text
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Summary:While the Bureau of Economic Analysis' (BEA) featured measure of economic output, gross domestic product (GDP), provides an answer, people are often also interested in the industry dynamics playing out within the economy. Broadly speaking, BEA's industry accounts -- which include the annual and benchmark input-output (I-O) accounts, the GDP by industry accounts -- facilitate the study of the internal workings of the US economy. This article is intended as an introduction to the industry accounts for new users and how they can be used to examine intraindustry and interindustry relationships in the economy. The benchmark I-O accounts are prepared less frequently, roughly once every five years, and are based on detailed data from the Economic Census conducted by the Census Bureau. While the input-output accounts offer a wealth of information in current dollars, the GDP by industry accounts allow for easier time series analysis of industry output in current dollars and in inflation-adjusted dollars.
ISSN:0039-6222
1937-4534