Industries

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.

BEA's economic modeling tool that helps users analyze how a proposed project would ripple through a region's economy is now updated with new benchmark data.

State and local governments, civic leaders, planners, investors, and others use the tool to assess the economic impact of projects or events within their selected area. For example, building an apartment complex would require buying building materials from local retailers and wholesalers, leasing equipment, and hiring tradespeople. Employees of these and other local businesses would have additional wages to spend, perhaps on household needs or recreation.

A blog from BEA Director Vipin Arora

BEA’s supply-use tables may be the unsung hero of economic accounting.

For many, that description immediately brings to mind images of some well-known superhero sidekicks. Yet when I take a step back and think about the impact of supply-use tables, I am reminded of something else entirely: shipping containers.

A blog post from BEA Director Vipin Arora

I recently bought a pair of shorts that fit just right. They were so good that I bought a pair of jeans from the same brand. Somehow—and we've all been here—the jeans fit tighter than the shorts, even though they were made by the same company. This isn't too different from what I sometimes go through as a data user.

At the end of September, BEA will update five years of U.S. gross domestic product and related statistics, as well as GDP statistics for industries and for each state.

These updates are part of a cycle the U.S. Bureau of Economic Analysis follows to continue refining its statistics as more information becomes available. The annual updates incorporate data that only become available yearly, such as from the Census Bureau’s annual surveys of manufacturers, merchant wholesale trade, and retail trade.

How would expanding a community college, building a new factory, or increasing government spending on roads impact your local economy? BEA has a tool that can help answer questions like these.

Local planners, businesspeople, and policymakers use the Regional Input-Output Modeling System to predict the potential economic impacts of a variety of projects and events, even natural disasters like hurricanes. The modeling system, known as RIMS II, was updated March 30 with BEA’s 2019 regional data. 

At the foundation of BEA's industry statistics are the input-output accounts — a guide to the inner workings of the U.S. economy. These detailed tables can help you trace supply chains, see indirect connections between industries, or study an industry's imports and exports.

Retail trade, finance and insurance, and utilities were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2019. Overall, 17 of 22 industry groups contributed to the 2.1 percent increase in real GDP in the fourth quarter.

The first official economic growth statistics for all U.S. counties show which industries contributed to growth from region to region and in counties large, medium, and small across the nation.  

These new Bureau of Economic Analysis statistics feature every county's gross domestic product – the value of goods and services produced within the county – and how much the inflation-adjusted GDP grew or decreased from the previous year. The statistics, for 2001 through 2018, also show industries' contributions to the change in each county's GDP.;

Finance and insurance; retail trade; and health care and social assistance were the leading contributors to the increase in U.S. economic growth in the first quarter of 2019. Overall, 16 of 22 industry groups contributed to the 3.1 percent increase in real GDP in the first quarter.