Site icon Herold Financial Dictionary

Bureau of Economic Analysis (BEA)

The Bureau of Economic Analysis is also known by its acronym the BEA. It is a bureau within the United States Department of Commerce. This BEA develops and publishes statistics for economic accounts that help a variety of groups to make decisions and to understand the economic performance of the U.S. Among the parties that follow their publications and statistics are business and government leaders, researchers, and members of the American public.

The publications which the Bureau of Economic Analysis produces prove to be among the most critical statistics of economics in the country. This includes such national benchmark economic indicators as the GDP Gross Domestic Product along with the balance of payments. The PCE Personal Consumption Expenditures Index is also compiled and released as part of their national economic data.

These and other statistics which the Bureau of Economic Analysis publishes have significant impact on important decisions in the U.S. Public policymakers, consumer households, individual people, and business heads use these numbers. They impact such important business, personal, and economic fundamentals as exchange rates, interest rates, budget and tax forecasts, investment plans for businesses, and the distribution of federal funds. These federal government grant monies total in excess of $390 billion. Numerous agencies distribute them to local and state organizations and communities.

Besides the two national bell weather statistics of GDP and balance of payments, the Bureau of Economic Analysis also puts together and publishes a variety of regional, national, international, and industry specific economic accounts. These deliver crucial information on a range of issues. Among these are relationships between various industries, economic development on a regional basis, and the position of the United States in the global economy as a whole.

Chief among the important statistics the Bureau of Economic Analysis keeps and uses are the NIPAs National Income and Product Accounts. They serve as a cornerstone for all of the agencies’ other national and regional statistics. They include the country’s gross domestic product numbers and other relevant measurements.

Many individuals are not aware of the depth of the international statistics which the Bureau of Economic Analysis keeps and provides on its website. Their international trade and investment country facts cover all of the nations in the world. These statistics are essentially complete reports on each nation’s trade and direct foreign investment with the United States.

They provide information on the exports from and imports to the U.S. from each country. They also showcase the dollar amount of direct foreign investment to and from America for each nation selected. Included in this information is a detailed breakdown of the different types of imports, exports, and trade goods exchanged between each country selected and the United States.

Regional reports which the BEA provides cover GDP on a state by state and metropolitan area basis.  They also deliver information on each state’s and local area personal income throughout the country. The PCE Personal Consumption Expenditures is provided on a state wide level under this category of information as well.

For industry reports, the BEA offers a GDP by industry report and statistics. They also offer an annual industry accounts section which includes a 50 year survey of current business input-output and GDP figures.

Exit mobile version