The Bureau of Economic Analysis (BEA) is an agency in the United States Department of Commerce that provides important economicstatistics including the gross domestic product of the United States. 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”.
From Wikipedia: http://en.wikipedia.org/wiki/Bureau_of_Economic_Analysis
“BEA’s Role in the Federal Statistical System
BEA is an agency of the Department of Commerce. Along with the Census Bureau and STAT-USA, BEA is part of the Department’s Economics and Statistics Administration.
BEA produces economic accounts statistics that enable government and business decision-makers, researchers, and the American public to follow and understand the performance of the Nation’s economy. To do this, BEA collects source data, conducts research and analysis, develops and implements estimation methodologies, and disseminates statistics to the public.
BEA is one of the world’s leading statistical agencies. Although it is a relatively small agency, BEA produces some of the most closely watched economic statistics that influence the decisions made by government officials, business people, households, and individuals. BEA’s economic statistics, which provide a comprehensive, up-to-date picture of the U.S. economy, are key ingredients in critical decisions affecting monetary policy, tax and budget projections, and business investment plans. The cornerstone of BEA’s statistics is the national income and product accounts (NIPAs), which feature the estimates of gross domestic product (GDP) and related measures.
The GDP was recognized by the Department of Commerce as its greatest achievement of the 20th century and has been ranked as one of the three most influential measures that affect U.S. financial markets. Since the NIPAs were first developed in the aftermath of the Great Depression, BEA has developed and extended its estimates to cover a wide range of economic activities.
Today, BEA prepares national, regional, industry, and international accounts that present essential information on such key issues as economic growth, regional economic development, interindustry relationships, and the Nation’s position in the world economy.” – from BEA website.
Bureau of Economic Analysis Home
NIPA – National Income and Product Accounts Tables
BEA – Government Receipts and Expenditures