Bureau of Economic Analysis

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Bureau of Economic Analysis
Bea-final-logo-blue-backing.png
Logo of the United States Bureau of Economic Analysis, a part of the Department of Commerce.
Agency overview
Formed January 1, 1972; 46 years ago (1972-01-01)
Preceding agency
  • Office of Business Economics
Headquarters Washington, D.C., U.S.
Employees 500
Annual budget $96.5 million (2013)
Agency executive
Parent agency Economics and Statistics Administration
Website www.bea.gov

The Bureau of Economic Analysis (BEA) of the United States Department of Commerce is a U.S. government agency that provides official macroeconomic and industry statistics, most notably reports about the gross domestic product (GDP) of the United States and its various units—states, cities/towns/townships/villages/counties and metropolitan areas. They also provide information about personal income, corporate profits, and government spending in their National Income and Product Accounts (NIPAs).

Established in 1972 under the administration of 37th President Richard M. Nixon after a government agencies reorganization and reshuffling from older previous bureaus, the BEA is part of the Economics and Statistics Administration in the presidential cabinet level United States Department of Commerce and is one of the principal agencies of the U.S. Federal Statistical System.[1] Its stated mission is to "promote a better understanding of the U.S. economy by providing the most timely, relevant, and accurate economic data in an objective and cost-effective manner".[2]

BEA has about 500 employees and an annual budget of approximately $96.5 million.[3]

National accounts[edit]

The National Income and Product Accounts (NIPAs) provide information about personal income, corporate profits, government spending, fixed assets, and changes in the net worth of the U.S. Economy.[4]

The accounts also include other approaches and methods of measuring income and spending, such as the gross domestic income (GDI) and gross national income (GNI).[5]

Industry accounts[edit]

There are quarterly and annual reports for "GDP by Industry Accounts", designed for analysis of a specific industry's contribution to overall economic growth and inflation.

See also[edit]

References[edit]

  1. ^ "U.S. Economy at a Glance". Bureau of Economic Analysis. Retrieved 13 March 2015. 
  2. ^ "BEA: Mission, Vision, and Values". Bureau of Economic Analysis. Retrieved 2008-06-29. 
  3. ^ Statistical Programs of the United States Government. Office of Management and Budget. November 26, 2012. Pages 5 and 92.
  4. ^ U.S. Bureau of Economic Analysis (BEA). "BEA Economic Accounts" (PDF).  6/21/2016.
  5. ^ U.S. Bureau of Economic Analysis. "Measuring the Economy. Primer on GDP and the National Income and Product Accounts" (PDF).  December 2015.

External links[edit]