Measures and Analyses of the U.S. Economy

The Bureau of Economic Analysis (BEA), a principal Federal statistical agency, seeks to promote a better understanding of the U.S.

economy by providing the Nation with timely, relevant, and accurate economic data in an objective and cost-effective manner.

BEA's national, industry, regional,
and international economic accounts present basic information on key issues, such as U.S.

economic growth, regional economic development, interindustry relationships, and the Nation's position in the world economy.

Some of the widely used statistical measures produced by BEA include gross domestic product (GDP), personal income and outlays, corporate profits, gross state product, balance of payments, and GDP by industry.

These statistics are used by Federal, state, and local governments for budget development and projections, the Federal Reserve for monetary policy, by the business sector for planning and investment purposes, and by the American public to follow and understand the performance of the Nation's economy.

BEA's strategic vision is to remain the world's most respected producer of economic accounts.


Agency - Department of Commerce

The Department of Commerce fosters and promotes the nation's economic development and technological advancement through vigilance in international trade policy, domestic business policy and growth, and promoting economic progress at all levels.

Website Address

http://www.bea.gov



Program Accomplishments

The Bureau of Economic Analysis (BEA) produces some of the Nation's most important economic statistics including the gross domestic product (GDP), international trade in services, personal income, gross state product, annual industry accounts, and U.S. balance of payments. During FY 2005, BEA made important improvements to the accuracy, timeliness, and relevance of the Nation's economic accounts. As a result, the Federal Reserve Board, the White House, the Congress, and Wall Street have more accurate data on such key aggregates as economic growth, profits, productivity, and inflation. Tax projections at the Federal and State and local level are based on more accurate and up-to-date information. BEA increased the accuracy of GDP by incorporating information from the Census Bureau's new quarterly services survey and made substantial improvements to estimates of international trade in services, including incorporating the results from its own expanded quarterly surveys. BEA accelerated the release of the gross state product estimates and the 2002 benchmark input-output gross output estimates, and produced GDP-by-industry estimates on a NAICS-basis dating back to 1987. BEA upgraded its dissemination efforts by enhancing www.bea.gov with a new search engine, e-mail subscription service, new interactive applications, and a customer satisfaction survey. These efforts have been recognized with the highest rating of effective by the Office of Management and Budget.

Uses and Use Restrictions

The statistics produced by BEA are used in the formulation and execution of fiscal, monetary, financial, international trade, and other policies related to the major economic goals of the Nation.

Businesses plan production, price, and investment programs with the aid of the information provided by BEA.

This information also is essential for economic decision-making by state and local governments, labor, other economic groups, and by individuals who need a better understanding in an increasingly complex economic world.

In addition, teaching and research programs at universities and research organizations rely on the information provided.



Eligibility Requirements

Applicant Eligibility

Any business, public official, civic organization, or private citizen may request information in person, by letter, by telephone, or by E-mail.

Beneficiary Eligibility

Any business, public official, civic organization, or private citizen may request information in person, by letter, by telephone, or by E-mail.

Credentials/Documentation

None.

Aplication and Award Process

Preapplication Coordination

Not applicable.

This program is excluded from coverage under E.O.

12372.

Application Procedures

Not applicable.

Award Procedures

Not applicable.

Deadlines

Not applicable.

Authorization

15 U.S.C. 171 et seq., Chapter 5, 1516, 22 U.S.C. 286f, 3101 et seq., Chapter 46.

Range of Approval/Disapproval Time

Not applicable.

Appeals

Not applicable.

Renewals

Not applicable.

Assistance Considerations

Formula and Matching Requirements

Not applicable.

Length and Time Phasing of Assistance

Not applicable.

Post Assistance Requirements

Reports

Not applicable.

Audits

Not applicable.

Records

Not applicable.

Financial Information

Account Identification

13-1500-0-1-376.

Obigations

(Salaries and expenses) FY 07 $76,507,000; FY 08 est not available; and FY 09 est not reported.

Range and Average of Financial Assistance

Not applicable.

Regulations, Guidelines, and Literature

BEA's estimates are available on the BEA Web site at www.bea.gov, in publications and CD-ROMs. The Survey of Current Business, BEA's monthly journal, presents summary estimates and analyses of U.S. economic activity. The Survey is available by subscription from the Superintendent of Documents, U.S. Government Printing Office (GPO): List ID SCUB, price $63.00 per year (domestic second-class mail), $88.20 (foreign second-class mail), or $105.00 (domestic first-class mail); single copy price $25.00 (domestic) or $35.00 (foreign). Foreign airmail delivery rates are available upon request from GPO. To order using Visa, MasterCard, or a GPO deposit account, call (202) 512-1800 or fax (202) 512-2250. To order by mail, send a check payable to "Superintendent of Documents" to Superintendent of Documents, P.O. Box 371954, Pittsburgh, PA 15250-7954. To order on- line,go to the GPO Website at www.gpo.gov.

Information Contacts

Regional or Local Office

Not applicable.

Headquarters Office

Public Information Office, Bureau of Economic Analysis, Department of Commerce, 1441 L St., NW., BE-53, Washington, DC 20230. Telephone: (202) 606-9900. TDD: (202) 606-5335. E-mail: webmaster@bea.gov .

Criteria for Selecting Proposals

Not applicable.



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Edited by: Michael Saunders

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