The BEA Wire | BEA's Official Blog

Annual Update of GDP, Industry, and State Stats Publicly Available Starting Sept. 30

BEA will release this year’s annual update of gross domestic product and related statistics beginning Sept. 30, part of our regular effort to better measure the U.S. economy. For the first time, updated state and county statistics will also start to flow to the public on the same day as the national and industry numbers. 

When Are Data and Tractors Treated the Same in Economic Accounting?

A blog post from BEA Director Vipin Arora

I’ve struggled over the years with some basic grammar (and I know I’m not the only one). It’s hard for me to remember what an adverb is, or to pick out a simile versus a metaphor. You can add treating the word data as plural to that list. Saying “the data are” instead of the “the data is” doesn’t sound right to me, even though I know that the singular usage has arisen only in recent years…

Faster Release of Personal Income, Outlays: Same Time as GDP

 A blog post from BEA Director Vipin Arora

Every month, Americans eagerly anticipate BEA’s GDP and personal income and outlays estimates. These statistics are essential for understanding, for instance, how fast our economy is growing, or how rapidly the incomes of people across the country are rising.

Economic Release Schedule Updates: GDP, Personal Income and Outlays

SUITLAND, Md. – The following updates to BEA’s post-shutdown economic release schedule are currently available:

Economic Release Schedule Updates: GDP, Personal Income and Outlays

SUITLAND, Md. – The following updates to BEA’s post-shutdown economic release schedule are currently available:

New dates: 

Personal Income and Outlays, October and November 2025, will be released Jan. 22 at 10 a.m. The October and November reports, originally scheduled separately for Nov. 26 and Dec. 19, 2025, will be combined into one release with statistics for both months.

Annual Update of GDP, Industry, and State Statistics Starts Sept. 25

BEA’s release of the annual update of gross domestic product and related statistics, including GDP by industry, begins Sept. 25. Updates of state and county statistics start Sept. 26. 

The Expenditures Approach to Measuring GDP

Gross domestic product, the total value of goods and services produced within the United States minus the value of goods and services, or inputs, used in production, can be measured three different ways: 1) expenditures approach, 2) income approach, and 3) production approach.

The most well-known method for computing GDP is the expenditures approach, the sum of all domestically produced goods and services sold to final users1. This…

Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Third Quarter 2024

Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the “second” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, federal government spending, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.

Gross Domestic Product, Third Quarter 2024 (Advance)

Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the “advance” estimate. In the second quarter, real GDP increased 3.0 percent. The increase in the third quarter primarily reflected increases in consumer spending, exports, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.

Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2024 and Annual Update

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the “third” estimate. In the first quarter, real GDP increased 1.6 percent (revised). The second-quarter increase in real GDP was the same as previously estimated in the “second” estimate released in August. 

BEA’s Annual Update of GDP Statistics Starts Sept. 26

National and industry statistics for the previous five years will be updated Sept. 26 as part of BEA’s regular annual updates to gross domestic product and related estimates. Updates to state and local statistics will begin Sept. 27.

Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) Second Quarter 2024

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the “second” estimate. In the first quarter, real GDP increased 1.4 percent. The GDP estimate for the second quarter was revised up 0.2 percentage point from the “advance” estimate, primarily reflecting an upward revision to consumer spending.