March 19, 2019

Arts and Cultural Production Satellite Account, U.S. and States 2016

The Arts and Cultural Production Satellite Account (ACPSA) released today by the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) shows that arts and cultural economic activity, adjusted for inflation, increased 2.9 percent in 2016. That compares with a 5.4 percent increase in 2015. Arts and cultural economic activity accounted for 4.3 percent of gross domestic product (GDP), or $804.2 billion, in 2016.

 

Principal Federal Economic Indicators

Gross Domestic Product Q4 2018 +2.6%
Personal Income January 2019 -0.1%
International Trade in Goods & Services (Trade Balance) December 2018 -$59.8B
U.S. International Transactions (Current Account Balance) Q3 2018 -$124.8B

The BEA Wire | BEA's Official Blog

GDP Back on Schedule With `Third’ Estimate

March 22, 2019

When the Bureau of Economic Analysis estimates the nation’s gross domestic product on March 28, it will officially be a “third estimate” – even though we’ve only estimated GDP for that quarter once before.

Wondering where the second estimate went? Don’t worry, we didn’t lose count. The unusual naming sequence reflects changes to our release schedule caused by the lapse in federal funding earlier this year… Read More

Arts and Culture Economy Grows 2.9 Percent in 2016

March 19, 2019

Arts and cultural economic activity grew at an inflation-adjusted 2.9 percent in 2016, increasing faster than the nation’s economy overall. For comparison, U.S. gross domestic product, or GDP, rose 1.6 percent that year.

Among state economies, Nevada posted the fastest arts and culture increase at 14.7 percent (not adjusted for inflation). Performing arts promoters and the movie industry led Nevada’s growth. The District of Columbia… Read More

Bohman Named Deputy Director of BEA

March 18, 2019

Mary Bohman, an agricultural economist with an impressive record of accomplishments in the public sector, was named Deputy Director of the Bureau of Economic Analysis.

Coming Soon: Arts and Culture Statistics for the U.S. and States

March 13, 2019

Take a bow, dancers, art teachers, and museum guides: The roles you and others play in the U.S. economy will be in the spotlight March 19.

That’s when the Bureau of Economic Analysis will release its annual statistics on the economic impact of arts and cultural activities. The data will highlight the sector’s contributions to the gross domestic product, or GDP, of the United States, each of the 50 states, and the District of Columbia… Read More

Benchmark Update Completed for State, Local Personal Income

March 6, 2019

The Bureau of Economic Analysis has completed its comprehensive update of state and local area personal income statistics, some reaching back as far as 1929.

Comprehensive, or benchmark, updates are performed approximately every five years. They provide the opportunity to incorporate newly available and revised source data and to introduce improvements in statistical methods. BEA’s full time series are updated to provide consistent… Read More

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