The BEA Wire | BEA's Official Blog

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.

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.

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.

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.  

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.