The 2020 Annual Update of the Industry Economic Accounts Revised Statistics for 2015–2019 and the First Quarter of 2020

Chronicling 100 Years of the

U.S. Economy

October 2020

Volume 100, Number 10

The 2020 Annual Update of the Industry Economic Accounts

Revised Statistics for 2015-2019 and the First Quarter of 2020

On September 30th, the Bureau of Economic Analysis (BEA) released updated quarterly and annual estimates of real gross domestic product (GDP) beginning with 2015. These estimates reflect new and revised source data for 2015 through the first quarter of 2020, which were incorporated as part of this year's annual update of the Industry Economic Accounts (IEAs).

The revisions to these statistics also reflect incorporation of the results of the 2020 annual update of the National Income and Product Accounts (NIPAs) and the 2020 annual update of BEA's International Transactions Accounts (ITAs).1

The newly released estimates include real, nominal, and price data on value added, gross output, and intermediate inputs for both annual and quarterly frequencies. Annual statistics are available for 1947 onward. In addition, more detailed annual statistics at the 138-industry level are available as part of the underlying detail for the IEAs for 1997 onward. Quarterly statistics are available at the 71-industry level for the first quarter of 2005 onward. In addition to these tables, the newly released estimates include a selection of input-output statistics including new supply- use tables (SUTs) and direct and total requirements tables for 2019 and revised tables for 2015- 2018.

Annual Update Highlights

Annual updates are conducted to maintain the accuracy and relevance of BEA's statistics, incorporating source data that are more complete and reliable than those previously available. This year's annual update features revised annual and quarterly estimates for 2015 through the first quarter of 2020.2 As is usual for an annual IEA update, the incorporation of more complete and revised source data and the incorporation of the results of the 2020 annual update of the NIPAs and the ITAs were the primary drivers of the revisions. Overall, the revised statistics continue to reflect the same picture of economic growth observed in the previously published estimates.

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Source data

The updated estimates reflect the incorporation of newly available and revised source data, which are regularly included in the annual updates and which became available after last year's annual update in October 2019. These data include the following:

U.S. Census 2017 Economic Census: Manufacturing: Summary Statistics for the U.S., States, and Selected Geographies for 2017 (new)

U.S. Census Annual Survey of State and Local Government Finances for fiscal years 2015- 2017 (revised) and 2018 (new)

U.S. Census Annual Survey of Manufactures for 2018 (new)

U.S. Census Annual Wholesale Trade Survey for 2015-2017 (revised) and 2018 (new) U.S. Census Annual Retail Trade Survey for 2015-2017 (revised) and 2018 (new)

U.S. Census Service Annual Survey for 2015-2018 (revised) and 2019 (new) U.S. Census Value of Construction Put in Place for 2015-2019 (revised)

Office of Management and Budget federal government budget data for fiscal years 2017- 2019 (revised) and 2020 (new)

BEA International Transactions Accounts statistics for 2015-2019 (revised)

Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages for 2015- 2019 (revised)

Internal Revenue Service (IRS) tabulations of corporate tax returns for 2017 (revised) and for 2018 (new)

IRS tabulations of sole proprietorship and partnership tax returns for 2018 (new)

U.S. Department of Agriculture Economic Research Service farm statistics for 2015-2019 (revised)

Results of the 2017 Economic Census were incorporated and replaced the Census Bureau monthly survey of Manufacturers' Shipments, Inventories, and Orders (M3). Typically, the Census Bureau Annual Survey of Manufactures data are incorporated each year. However, these data were not available for 2017, as the survey is not conducted during Economic Census years.

Principal sources of data used to construct current-dollar and chained-dollar estimates for benchmark and nonbenchmark years can be found in tables A and B. Principal sources of data used to construct the quarterly estimates can be found in table C.

The 2020 annual update of the NIPAs

The IEAs are a consistent time series that are fully integrated with the NIPAs; thus, the results of the 2020 annual update of the NIPAs directly affect the industry statistics. The most significant revisions for 2015 through the first quarter of 2020 resulted from the incorporation of revised and newly available source data into the NIPA estimates of personal consumption expenditures (PCE), corporate profits, and net interest. Notably, this year's update of the NIPAs reflects improvements to the estimating methods underlying measures of services furnished without payment by financial intermediaries. Beginning with 2015, measures of the imports of these "implicit" services are now included; previously, only exports of these services were recorded. Measures of the implicit services provided by commercial banks were also updated to include the services produced by international banking facilities.3

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Methodology improvements

Customs duties deflators

A change to customs duties prices was implemented to improve the accuracy of BEA's deflation of customs duties. Starting with 2015, these prices are now measured implicitly based on nominal measures of customs duties and a corresponding measure of real goods imports from the NIPAs. This improved price index better captures changes in both the duty rates and the prices of underlying imported products. Previously, BEA primarily used BLS import price indexes to measure price changes of customs duties.

Retail trade deflators

Several price indicators used to deflate retail trade output were changed in response to the discontinuation of several BLS Producer Price Indexes (PPIs). Beginning with 2015, a combination of NIPA PCE prices and BLS PPIs replaced 17 of the 43 PPIs previously used to deflate retail trade output.

Estimates of educational services output

The accuracy of BEA's measure of educational services output was improved by incorporating new source data. Previously, the estimates were based on data from the National Center for Education Statistics (NCES), from the Census Bureau Service Annual Survey (SAS), and from the Census Bureau Survey of State and Local Government Finances. Beginning in 2015, educational services output measures for business schools and computer and management training, technical and trade schools, other schools and instruction, and educational support services were streamlined by solely using SAS data. Because BEA's quarterly methodology uses Census Quarterly Services Survey data, the introduction of new source data harmonizes quarterly and annual output statistics and improves the accuracy of educational services output. For elementary and secondary schools, BEA continues to use NCES data.

Estimates of commercial fishing output and prices

Beginning with 2017, commercial fishing output is estimated using Census M3 meat processing product shipments and BLS PPI data for seafood product preparation and packaging. In prior estimates, BEA used monthly National Oceanic and Atmospheric Administration commercial landing statistics; however, the series was discontinued in 2017. The new methodology harmonizes the quarterly and annual approaches, allowing for consistency between the estimates, as Census and BLS data were already used as part of the annual estimation methodology.

Supply-use tables

New SUTs for 2019 and revised SUTs for 2015-2018 are available with the 2020 annual update of the IEAs.4 The supply table presents the total supply of goods and services from both domestic and foreign producers available for use in the domestic economy. The use table shows the use of this supply by domestic industries as intermediate inputs and by final users, including exports. The tables also show value added by industry.

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Revisions

The percent change in real GDP for the first quarter of 2020 was unrevised at −5.0 percent. Private goods-producing industries was revised down 0.3 percentage point to −2.9 percent. Private services producing industries was unrevised at −6.0 percent. Government was revised up to −2.5 percent from −2.7 percent. The direction of growth in real value added was unrevised in 21 of 22 major industry groups, with management of companies and enterprises being the only exception.

Private goods-producing industries was revised down 0.3 percentage point. The 2.0 percentage points downward revision to real value added in nondurable goods manufacturing was the largest contributor, led by a revision in petroleum and coal products manufacturing.

Private services-producing industries was unrevised; an 8.5 percentage point upward revision to arts, entertainment, and recreation was offset by an 8.6 percentage point downward revision to management of companies.

Quarterly statistics for 2015-2019 were benchmarked to the corresponding annual estimates, and revisions to these quarters typically follow the revisions to the annual data. Updated quarterly source data and revised seasonal factors also contributed to revisions to the quarterly estimates in these periods. Table 1 presents revisions to annual percent changes in real value added by industry group.

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Table 1. Revisions to Percent Change in Real Value Added by Industry Group

Line	Industry group		2015			2016			2017			2018			2019			2020:I
Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision
		published	published	published	published	published	published
1	Gross domestic	3.1	2.9	0.2	1.7	1.6	0.1	2.3	2.4	−0.1	3.0	2.9	0.1	2.2	2.3	−0.1	−5.0	−5.0	0.0
product
2	Private industries	3.5	3.3	0.2	1.8	1.6	0.2	2.5	2.6	−0.1	3.2	3.2	0.0	2.4	2.6	−0.2	−5.4	−5.3	−0.1
	Agriculture,
3	forestry, fishing,	7.3	6.6	0.7	5.1	4.8	0.3	−2.2	−1.5	−0.7	4.2	−1.4	5.6	0.1	4.4	−4.3	28.4	15.5	12.9
	and hunting
4	Mining	9.2	8.5	0.7	−5.5	−5.8	0.3	0.9	7.2	−6.3	4.9	3.3	1.6	11.5	14.6	−3.1	−2.2	−4.2	2.0
5	Utilities	0.1	−0.2	0.3	5.0	5.1	−0.1	0.4	1.7	−1.3	0.5	−0.2	0.7	1.3	2.1	−0.8	8.2	5.0	3.2
6	Construction	4.6	4.6	0.0	3.8	3.4	0.4	3.1	2.3	0.8	2.8	2.2	0.6	0.0	0.0	0.0	0.6	0.8	−0.2
7	Manufacturing	1.4	0.9	0.5	−0.8	−0.5	−0.3	2.6	2.6	0.0	4.2	3.9	0.3	2.0	0.7	1.3	−6.4	−4.9	−1.5
8	Durable goods	1.9	1.5	0.4	−0.2	0.4	−0.6	3.4	3.4	0.0	4.8	4.7	0.1	1.6	1.8	−0.2	−5.9	−4.8	−1.1
9	Nondurable	0.7	0.1	0.6	−1.5	−1.7	0.2	1.5	1.6	−0.1	3.5	2.9	0.6	2.5	−0.6	3.1	−7.0	−5.0	−2.0
goods
10	Wholesale trade	4.3	4.3	0.0	−1.2	−1.3	0.1	1.6	1.8	−0.2	0.6	1.6	−1.0	−2.1	0.8	−2.9	−0.2	−2.5	2.3
11	Retail trade	3.7	3.3	0.4	3.7	3.5	0.2	3.6	3.5	0.1	2.6	3.5	−0.9	2.5	3.5	−1.0	−7.0	−6.9	−0.1
12	Transportation and	2.7	2.7	0.0	1.6	1.8	−0.2	3.9	4.6	−0.7	4.3	4.0	0.3	3.2	0.0	3.2	−9.6	−8.7	−0.9
warehousing
13	Information	10.5	9.2	1.3	8.7	8.7	0.0	6.5	5.9	0.6	7.0	8.5	−1.5	7.1	4.6	2.5	−2.9	−3.9	1.0
	Finance, insurance,
14	real estate, rental,	2.6	2.6	0.0	1.6	1.1	0.5	1.3	1.2	0.1	2.0	1.2	0.8	1.4	2.2	−0.8	−5.2	−4.0	−1.2
	and leasing
15	Finance and	3.4	3.6	−0.2	1.3	0.1	1.2	−0.1	−0.6	0.5	0.2	−1.9	2.1	0.4	3.3	−2.9	−12.9	−9.0	−3.9
insurance
	Real estate and
16	rental and	2.2	2.0	0.2	1.8	1.7	0.1	2.1	2.2	−0.1	3.1	3.0	0.1	2.0	1.6	0.4	−0.6	−1.1	0.5
	leasing
17	Professional and	3.4	3.2	0.2	2.0	1.9	0.1	4.5	4.3	0.2	5.1	5.4	−0.3	4.5	5.2	−0.7	−1.9	−1.1	−0.8
business services
	Professional,
18	scientific, and	4.4	4.2	0.2	3.0	2.9	0.1	3.2	2.9	0.3	5.2	5.2	0.0	4.7	5.5	−0.8	−1.0	−1.2	0.2
technical
	services
	Management of
19	companies and	2.6	2.6	0.0	1.2	1.0	0.2	6.9	7.2	−0.3	6.9	7.1	−0.2	7.2	8.0	−0.8	−3.8	4.8	−8.6
	enterprises
	Administrative
20	and waste	1.5	1.3	0.2	0.3	0.2	0.1	6.0	6.1	−0.1	3.7	4.6	−0.9	2.5	3.0	−0.5	−2.8	−4.4	1.6
management
	services
	Educational
21	services, health	3.8	3.9	−0.1	2.8	2.6	0.2	1.5	1.6	−0.1	2.8	3.1	−0.3	2.8	2.8	0.0	−6.7	−7.4	0.7
care, and social
	assistance
22	Educational	0.8	1.8	−1.0	2.9	1.9	1.0	−1.9	−2.6	0.7	1.6	1.1	0.5	2.1	0.8	1.3	−3.1	−4.9	1.8
services
23	Health care and	4.3	4.3	0.0	2.8	2.7	0.1	2.0	2.3	−0.3	3.0	3.5	−0.5	2.9	3.1	−0.2	−7.3	−7.8	0.5
social assistance
	Arts,
	entertainment,
24	recreation,	3.1	2.5	0.6	1.4	1.2	0.2	2.2	2.1	0.1	2.1	2.6	−0.5	1.5	0.9	0.6	−26.2	−29.0	2.8
	accommodation,
	and food services
	Arts,
25	entertainment,	−1.7	−1.8	0.1	3.4	3.4	0.0	3.1	2.3	0.8	3.6	4.0	−0.4	2.0	1.1	0.9	−26.2	−34.7	8.5
	and recreation
	Accommodation
26	and food	4.9	4.1	0.8	0.7	0.5	0.2	1.9	2.1	−0.2	1.6	2.1	−0.5	1.3	0.8	0.5	−26.3	−26.8	0.5
	services
27	Other services,	0.6	0.9	−0.3	−0.9	−0.6	−0.3	0.8	0.1	0.7	3.3	3.1	0.2	1.4	0.4	1.0	−13.4	−12.2	−1.2
except government
28	Government	0.1	0.1	0.0	1.0	1.0	0.0	1.1	0.9	0.2	1.0	0.8	0.2	1.0	0.5	0.5	−2.5	−2.7	0.2
29	Federal	0.1	0.2	−0.1	0.8	0.8	0.0	0.6	0.6	0.0	0.6	0.3	0.3	0.8	0.2	0.6	1.9	2.2	−0.3
30	State and local	0.1	0.0	0.1	1.1	1.1	0.0	1.3	1.1	0.2	1.2	1.0	0.2	1.0	0.6	0.4	−4.4	−4.9	0.5
	Addenda:
	Private goods-
31	producing	3.2	2.8	0.4	0.2	0.2	0.0	2.3	2.7	−0.4	4.0	3.2	0.8	2.2	1.9	0.3	−2.9	−2.6	−0.3
	industries1

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Line	Industry group		2015			2016			2017			2018			2019			2020:I
Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision	Revised	Previously	Revision
		published	published	published	published	published	published
	Private services-
32	producing	3.6	3.4	0.2	2.2	2.0	0.2	2.6	2.5	0.1	3.0	3.2	−0.2	2.4	2.7	−0.3	−6.0	−6.0	0.0
	industries2
	Information-
	communications-
33	technology-	11.0	10.0	1.0	9.1	9.2	−0.1	8.0	7.2	0.8	8.8	9.1	−0.3	7.7	...	...	...	...	...
	producing
	industries3

1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
3. Consists of computer and electronic product manufacturing (excluding navigational, measuring, electromedical, and control instruments manufacturing); software publishers; broadcasting and telecommunications; data processing, hosting, and related services; internet publishing and broadcasting and web search portals; and computer systems design and related services.

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2019

Real GDP growth was revised down from 2.3 percent to 2.2 percent for 2019. Private services- producing industries was revised down 0.3 percentage point to 2.4 percent, private goods- producing industries was revised up 0.3 percentage point to 2.2 percent (chart 1), and government was revised up 0.5 percentage point to 1.0 percent. The direction of change was unrevised for 20 of 22 major industry groups, with nondurable goods and wholesale trade as the only exceptions.

Finance and insurance led the downward revision to growth in real value added for private services-producing industries. Growth in this industry was revised to 0.4 percent from the

3.3 percent published previously, primarily reflecting revisions to federal reserve banks, credit intermediation, and related activities.

Nondurable goods manufacturing was revised up to 2.5 percent from −0.6 percent, leading the upward revision to private goods-producing industries. The upward revision to nondurable goods manufacturing was primarily due to the petroleum and coal products industry.

Wholesale trade was revised down from 0.8 percent to −2.1 percent.

2018

Real GDP growth was revised up from 2.9 percent to 3.0 percent for 2018. Private goods- producing industries was revised up 0.8 percentage point to 4.0 percent; private services- producing industries was revised down 0.2 percentage point to 3.0 percent; and government was revised up 0.2 percentage point to 1.0 percent. The direction of change was unrevised for 19 of 22 major industry groups, with agriculture, forestry, fishing, and hunting; utilities; and finance and insurance as the only exceptions.

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Agriculture, forestry, fishing, and hunting was the leading contributor to the upward revision to private goods-producing industries with an upward revision of 5.6 percentage points to 4.2 percent. The revision was primarily due to upward revisions to farms. Nondurable goods manufacturing also contributed to the upward revision to private goods producing industries with an upward revision of 0.6 percentage point to 3.5 percent; the revision to this industry was primarily due to an upward revision to petroleum and coal products.

Information was the leading contributor to the downward revision to private services- producing industries. Growth in information was revised down from 8.5 percent to 7.0 percent. The downward revision was primarily led by revisions to motion picture and sound recording industries.

2017

Real GDP growth was revised down from 2.4 percent to 2.3 percent for 2017. Private goods- producing industries was revised down 0.4 percentage point to 2.3 percent, private services- producing industries was revised up 0.1 percentage point to 2.6 percent, and government was revised up 0.2 percentage point to 1.1 percent. The direction of change was unrevised for all 22 major industry groups.

The leading contributor to the downward revision for private goods-producing industries was mining, which was revised down from 7.2 percent to 0.9 percent. The downward revision was primarily driven by oil and gas extraction.

Information led the upward revision to private services-producing industries with a revision of 0.6 percentage point to 6.5 percent. The revision was led by an upward revision to broadcasting and telecommunications.

2016

Real GDP growth was revised up from 1.6 percent to 1.7 percent for 2016. Private services- producing industries was revised up 0.2 percentage point to 2.2 percent, private goods- producing industries was unrevised at 0.2 percent, and government was unrevised at 1.0 percent. The direction of change was unrevised for 21 of 22 major industry groups, with durable goods manufacturing as the only exception.

Finance and insurance was the leading contributor to the upward revision to private services-producing industries; it was revised up to 1.3 percent from 0.1 percent. The revision was led by an upward revision to federal reserve banks, credit intermediation, and related activities.

Durable goods was revised down to −0.2 percent from 0.4 percent, primarily led by a downward revision to computer and electronic products.

2015

Real GDP growth was revised up from 2.9 percent to 3.1 percent for 2015. Private goods- producing industries was revised up 0.4 percentage point to 3.2 percent, private services- producing industries was revised up 0.2 percentage point to 3.6 percent, and government was unrevised at 0.1 percent. The direction of change was unrevised in 21 of 22 major industry groups, with utilities as the only exception.

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Durable goods was revised up to 1.9 percent from 1.5 percent. The revision was due primarily to revisions to primary metals, fabricated metal products, and machinery. Nondurable goods was revised up to 0.7 percent from 0.1 percent. The revision was led by upward revisions to food and beverage and tobacco products, paper products, petroleum and coal products, and chemical products.

The upward revision to private services-producing industries was led by information, which was revised up to 10.5 percent from 9.2 percent. The revision was driven by revisions to broadcasting and telecommunications and to publishing industries, except internet (includes software).

Data availability and methodology

Data availability

The entire time series of industry statistics are available interactively on the BEA website. The GDP by industry section includes real, current-dollar, and price statistics for value added, gross output, intermediate inputs, and KLEMS (K-capital,L-labor,E-energy,M-materials, and S purchased services) statistics as well as access to the underlying detail tables. Theinput-outputsection includes an annual time series of supply and use tables as well as total requirements tables. The 2007 and 2012 benchmark tables are also available as integrated parts of the time series.

Methodology

For information on the methodology for preparing the annual statistics, see Donald D. Kim, Erich H. Strassner, and David B. Wasshausen, "Industry Economic Accounts: Results of the Comprehensive Revision and Revised Statistics for1997-2012,"Survey 94 (February 2014). For

information on the methodology used for preparing the 2012 benchmark input-output tables, see Concepts and Methods of the U.S.Input-OutputAccounts on the BEA website. For information

on the methodology for preparing the quarterly statistics, see Erich H. Strassner and David B. Wasshausen, "New Quarterly Gross Domestic Product by Industry Statistics," Survey 94 (May 2014).

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Data Source Tables

Table A. Principal Data Sources for Industry and Commodity Output and Prices

Industry and	2012 benchmark-year sources	Nonbenchmark-year sources	Source for price
commodity	indexes
Agriculture, forestry, fishing and hunting
	BEA NIPA statistics based on USDA ERS	Farm output from BEA NIPAs	NIPA prices based on
Farms	USDA price indexes
data	based on USDA ERS data
	received by farmers
	For forestry, logging, hunting, and	For forestry, logging, hunting,	BLS PPI, NIPA PCE
	and trapping, BEA NIPA farm
Forestry, fishing,	trapping, BEA NIPA farm output; for	prices,
output; for fishing, commercial
and related	fishing, commercial landings data from	USDA/National
landings data from NOAA,
activities	NOAA, Census Bureau 2012 Economic	Agricultural Statistics
Census Bureau M3 data, and
	Census NAICS Sector 11, and ERS data	Service unit prices
	ERS data
Mining
Oil and gas	Census Bureau 2012 Economic Census,	EIA data on quantities	BLS PPI and EIA
extraction	NAICS Sector 21, Mining	produced and prices
		For coal mining, EIA U.S. Coal
		Supply and Demand in Review;
Mining, except oil	Census Bureau 2012 Economic Census,	for uranium, EIA Uranium	EIA, USGS, and BLS
Marketing Annual Report; for all
and gas	NAICS Sector 21, Mining	PPI
other, USGS Mineral Commodity
		Summaries and Mineral
		Industry Survey
		For mining exploration, trade
Support activities	Census Bureau 2012 Economic Census,	source data on drilling costs	EIA, USGS, BLS PPI,
and footage drilled; all other
for mining	NAICS Sector 21, Mining	and trade sources
support activities, USGS Mineral
		Commodity Summaries
Utilities
		For electric power generation
	For electric power generation,	transmission and distribution,
	EIA forms 861 and 861M; for
	transmission, and distribution; natural
	natural gas distribution, EIA
	gas distribution; and water, sewage,	BLS CPI and BLS PPI
	form 176 and Natural Gas
	and other systems, Census Bureau
	Monthly; for water, sewage, and
	2012 Economic Census
	other systems, Census Bureau
		SAS
Construction
			Census Bureau price
			deflator for multi-
			family home
			construction,
Residential	Census Bureau VIP survey	Census Bureau VIP survey	composite price of
new single-family
			houses under
			construction and the
			Turner Cost Index,
			and BEA prices
			BLS PPI and BEA
		Census Bureau VIP survey,	composite prices
		based on trade
		DOD expenditures, USDA
		source data and on
Nonresidential	Census Bureau VIP survey	expenditures, and BLS
the Census Bureau
		occupational employment
		price deflator for
		statistics
		single-family houses
			under construction
Manufacturing

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Industry and	2012 benchmark-year sources	Nonbenchmark-year sources	Source for price
commodity	indexes
		Census Bureau ASM data, M3	BLS PPI and NIPA
		prices based on DOD
		shipments and inventories
	Census Bureau 2012 Economic Census,	prices paid for
	data, nonemployer survey data,
	NAICS Sector 31-33, Manufacturing	military equipment,
	EIA production data, FRB data,
		and NIPA hedonic
		and BLS PPI
		prices
Wholesale trade
	Census Bureau 2012 Economic Census,	Census Bureau Monthly
	NAICS Sector 42, Wholesale Trade;	Wholesale Trade Survey and	BLS PPI and NIPA
	Census Bureau 2012 Annual Wholesale	Annual Wholesale Trade	sales deflators
	Trade Survey	Survey
Retail trade
	Census Bureau 2012 Economic Census,	Census Bureau Monthly Retail	BLS PPI and NIPA
	NAICS Sector 44-45, Retail Trade;
	Trade Survey and ARTS	sales deflators
	Census Bureau 2012 ARTS
Transportation and warehousing
	Census Bureau 2012 Economic Census,	Census Bureau SAS data; DOT
	BTS Air Carrier Financial
Air transportation	NAICS Sector 48-49, Transportation	BLS PPI
Statistics and U.S. Air Carrier
	and Warehousing; DOT BTS
	Traffic Statistics
	For rail passenger, Amtrak Annual	For rail passenger, Amtrak
	Report, Alaska Railroad Annual Report,
	Annual Report, DOT STB selected
Rail transportation	DOT STB selected earning data; for rail	BLS PPI
earning data; for rail freight,
	freight, DOT STB selected earning data;
	DOT STB selected earning data
	AAR 2012 Railroad Facts
Water	Census Bureau 2012 Economic Census,		For freight, BLS PPI;
NAICS Sector 48-49, Transportation	Census Bureau SAS data	for passenger, BLS
transportation
and Warehousing		CPI
Truck	Census Bureau 2012 Economic Census,
NAICS Sector 48-49, Transportation	Census Bureau SAS data	BLS PPI
transportation
and Warehousing
Transit and ground	Census Bureau 2012 Economic Census,
passenger	NAICS Sector 48-49, Transportation	Census Bureau SAS data	NIPA PCE prices
transportation	and Warehousing
Pipeline	Census Bureau 2012 Economic Census,
NAICS Sector 48-49, Transportation	Census Bureau SAS data	BLS PPI
transportation
and Warehousing
Other	Census Bureau 2012 Economic Census,		BLS PPI and NIPA
transportation and	NAICS Sector 48-49, Transportation	Census Bureau SAS data
PCE prices
support activities	and Warehousing
Warehousing and	Census Bureau 2012 Economic Census,
NAICS Sector 48-49, Transportation	Census Bureau SAS data	BLS PPI
storage
and Warehousing
Information
Publishing			BLS PPI and BEA
industries, except	Census Bureau 2012 Economic Census,
Census Bureau SAS data	price indexes for
internet (includes	NAICS Sector 51, Information
	software
software)
Motion picture and	Census Bureau 2012 Economic Census,
sound recording	Census Bureau SAS data	NIPA PCE prices
NAICS Sector 51, Information
industries
Broadcasting and	Census Bureau 2012 Economic Census,	Census Bureau SAS data	BLS PPI
telecommunications	NAICS Sector 51, Information
Data processing,
internet publishing,	Census Bureau 2012 Economic Census,		BLS PPI and NIPA
and other	Census Bureau SAS data
NAICS Sector 51, Information	PCE prices
information
services
Finance and insurance

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Industry and	2012 benchmark-year sources	Nonbenchmark-year sources	Source for price
commodity	indexes
Federal Reserve	Census Bureau 2012 Economic Census,	Census Bureau SAS data; FDIC
NAICS Sector 52, Finance and	Commercial Bank Call Report
banks, credit	FRB-priced services
Insurance; IRS Statistics of Income; FRB	data; FRB data; NCUA; and
intermediation, and	and NIPA PCE prices
2012 Annual Report; and FDIC, 2012	NIPA measures of financial
related activities
Statistics on Banking	services indirectly measured
Securities,	Census Bureau 2012 Economic Census,
NAICS Sector 52, Finance and
commodity	SEC FOCUS Report data and	BLS PPI and NIPA
Insurance; IRS Statistics of Income; and
contracts, and	Census Bureau SAS data	PCE prices
New York Stock Exchange, 2012 Annual
investments
Report
		For property and casualty
	AM Best Company statistics; Census	insurance, life insurance, and
	reinsurance, AM Best Company
	Bureau 2012 Economic Census, NAICS
	statistics and Census Bureau
Insurance carriers	Sector 52, Finance and Insurance;
SAS; for medical and	BLS PPI and NIPA
and related	American Council of Life Insurers
hospitalization insurance,	PCE prices
activities	Handbook; BEA NIPA statistics on
private trade source data and
	medical and hospital insurance
	BEA NIPA statistics on medical
	premiums
	and hospital insurance
		premiums
Funds, trusts, and	NIPA imputed service charges for other	NIPA imputed service charges
other financial	NIPA PCE prices
financial institutions	for other financial institutions
vehicles
Real estate and rental and leasing
			For residential
	Census Bureau 2012 Economic Census,	For residential dwellings, NIPA	dwellings, NIPA PCE
	NAICS Sector 53, Real Estate and Rental	housing data and USDA data on	prices and NIPA
	and Leasing; For residential dwellings,	farm housing; for	implicit price
	NIPA housing data and USDA data on	nonresidential structures, IRS	deflators for farm
Real estate	farm housing; for nonresidential	tabulations of business tax	rents paid; for
structures, IRS tabulations of business	returns, NIPA rental value of	nonresidential
	tax returns, NIPA rental value of	buildings owned by nonprofit	structures, BLS PPI;
	buildings owned by nonprofit	institutions serving households,	for real estate
	institutions serving households, and	and NIPA foreign trade	managers and
	NIPA foreign trade statistics	statistics	agents, BLS PPI and
			trade source data
	Census Bureau 2012 Economic Census,	For rental and leasing services,	BLS PPI, BTS and
Rental and leasing	construction index,
NAICS Sector 53, Real Estate and Rental	Census Bureau SAS data; for
services and lessors	mining, crude oil
and Leasing; for royalties, IRS	royalties, IRS tabulations of
of intangible assets	receipts, and trade
tabulations of business tax returns	business tax returns
	source data
Professional, scientific, and technical services
	Census Bureau 2012 Economic Census,	Census Bureau SAS data and	BLS PPI and NIPA
Legal services	NAICS Sector 54, Professional, Scientific,
BLS QCEW data	PCE prices
	and Technical Services
Computer systems	Census Bureau 2012 Economic Census,		BEA price indexes for
design and related	NAICS Sector 54, Professional, Scientific,	Census Bureau SAS data
software
services	and Technical Services
Miscellaneous	Census Bureau 2012 Economic Census,	Census Bureau SAS data, NIPA	BLS PPI, NIPA PCE
professional,
NAICS Sector 54, Professional, Scientific,	PCE, BLS QCEW data, and NIPA	prices, and BEA price
scientific, and
and Technical Services	R&D data	indexes for R&D
technical services
Management of companies and enterprises
	Census Bureau 2012 Economic Census,
	NAICS Sector 55, Management of	BLS QCEW data	BLS PPI
	Companies and Enterprises
Administrative and waste management services
	Census Bureau 2012 Economic Census,
	NAICS Sector 56, Administrative and	Census Bureau SAS data; BLS	BLS PPI and NIPA
	Support and Waste Management and	QCEW for auxiliary industries	PCE prices
	Remediation Services
Educational services

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Industry and	2012 benchmark-year sources	Nonbenchmark-year sources	Source for price
commodity	indexes
	Census Bureau 2012 Economic Census,	PCE data for education services
	NAICS Sector 61, Educational Services;	based on data from the
	Department of Education, National	Department of Education and	NIPA PCE prices
	Center for Education Statistics, 2012	data from BLS consumer
	Digest of Education Statistics	expenditure survey
Health care and social assistance
	Census Bureau 2012 Economic Census,		BLS PPI and NIPA
	NAICS Sector 62, Health Care and Social	Census Bureau SAS data
	PCE prices
	Assistance
Arts, entertainment, and recreation
	Census Bureau 2012 Economic Census,		BLS PPI and NIPA
	NAICS Sector 71, Arts, Entertainment,	Census Bureau SAS data
	PCE prices
	and Recreation
Accommodation and food services
	Census Bureau 2012 Economic Census,	For hotels and motels, PCE; for
	all other traveler	BLS PPI and NIPA
Accommodation	NAICS Sector 72, Accommodation and
accommodations and bed and	PCE prices
	Food Services
	breakfasts, BLS QCEW data
Food services and	Census Bureau 2012 Economic Census,
NAICS Sector 72, Accommodation and	Census Bureau ARTS data	NIPA PCE prices
drinking places
Food Services
Other services, except government
		For religious, grant making,
	For religious, grant making, civic, and	civic, and other nonprofit
	services, personal services, and
	other nonprofit services; personal
	dry cleaning services, Census
	services and dry cleaning services; and
	Bureau SAS data, PCE, and data	BLS PPI and NIPA
	repair and maintenance: 2012
	from the National Center for	PCE prices
	Economic Census taxable revenue and
	Charitable Statistics; for repair
	tax-exempt expenses, NIPA PCE, NIPA
	and maintenance, BLS QCEW;
	WS; for private household services, PCE
	for private household services,
		PCE
Federal
			NIPA prices based on
			BLS PPI and CPI; for
			military facilities,
	Federal budget data; Center for	NIPA government expenditure	DOD data on
General	employment, prices
Medicare and Medicaid Services; BLS	statistics; for federal structures,
government	for military
Current Employment Statistics	DOD investment expenditures
	construction, and
			construction cost
			indexes from trade
			source data
	U.S. Postal Service receipts; EIA data for	U.S. Postal Service receipts; EIA
Government	electric utilities; FHA data; federal	data for electric utilities; FHA	BLS PPI
enterprises	government agency reports for specific	data; government agency data
	federal enterprises	for specific federal enterprises
State and local
	Census Bureau 2012 Census of
General	Governments; Census Bureau 2012	NIPA government expenditure	BLS PPI and NIPA
government	Government Finances; Census Bureau	statistics	PCE prices
	2012 Public Employment
	Census Bureau 2012 Census of	NIPA statistics on government
	enterprises based on the
	Governments; Census Bureau 2012
	Census Bureau annual survey
	Government Finances; Census Bureau
	of government finances; for
	2012 Public Employment; Alaska
Government	Alaskan ferries, watersports,	BLS PPI and NIPA
Railroad Administration data for
enterprises	and airports, Alaska Railroad	PCE prices
Alaskan ferries, watersports, and
	Administration; for electric
	airports; for electric utilities, EIA data;
	utilities, EIA data; for state and
	for state and local government
	local government structures,
	structures, Census Bureau VIP survey
	Census Bureau VIP survey

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GDPGross domestic product	M3	Manufacturers' Shipments,
ARTSAnnual Retail Trade Survey	Inventories, and Orders
ASMAnnual Survey of	NAICSNorth American Industry
Manufactures	Classification System
BEABureau of Economic	NCUANational Credit Union Administration
Analysis	NIPA National Income and Product
BLS Bureau of Labor Statistics	Accounts
BTS Bureau of Transportation	NOAANational Oceanic and Atmospheric
Statistics	Administration
CPI Consumer Price Index	PCE	Personal Consumption Expenditures
DODDepartment of Defense	PPI	Producer Price Index
DOEDepartment of Energy	QCEWQuarterly Census of Employment and
DOTDepartment of	Wages
Transportation	R&D Research and development
EIA Energy Information	SAS	Service Annual Survey
Administration	SEC	Securities and Exchange Commission
ERS Economic Research Service	SOI	Statistics of Income
FDICFederal Deposit Insurance	STB	Surface Transportation Board
Corporation	USDAUnited States Department of
FHAFederal Housing	Agriculture
Administration	USGS United States Geological Survey
FRBFederal Reserve Board	VIP	Value of Construction Put in Place
IRS Internal Revenue Service	Survey
ITAsInternational Transactions	WS	Wages and Salaries
Accounts

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Table B. Principal Data Sources and Methods for Estimating Intermediate Inputs and

Value Added

Source data and methods used in 2012 benchmark year

Intermediate inputs1

Agriculture, forestry, fishing, and hunting

Inputs to the agriculture, forestry, fishing, and hunting industries were estimated from U.S. Department of Agriculture 2012 Census of Agriculture or by extrapolating 2007 benchmark I-O estimates.

Mining

Inputs to the mining industries were estimated primarily from 2012 Economic Census mining sector reports. Detailed expense data used to estimate intermediate inputs included accounting, auditing, and bookkeeping services; advertising and promotional expenses; communication services; legal services; purchased electricity; purchased fuels consumed; rental payments for buildings and other structures; rental payments for machinery and equipment; supplies used and minerals received; and all other operating expenses.

Construction

Inputs to the construction industries were estimated primarily from 2012 Economic Census construction data.

Manufacturing

Inputs to the manufacturing industries were estimated primarily from 2012 Economic Census manufacturing sector reports. Detailed expense data used to estimate intermediate inputs included accounting, auditing, and bookkeeping services; advertising and promotional services; communication services; legal services; management consulting and administrative services; materials, parts, containers, packaging, etc, used; purchased computer services; purchased electricity; purchased fuels; refuse removal services; rental payments for buildings and other structures; rental payments for machinery and equipment; repair and maintenance services of buildings and/or machinery; and all other operating expenses. Inputs were also interpolated using the 2007 benchmark I-O estimates and ASM data.

Wholesale trade, retail trade, and accommodation and food services

Inputs to the wholesale trade, retail trade, and accommodation and food services industries were estimated primarily from the Census Bureau 2012 AWTS and ARTS quinquennial Business Expenses Supplement. Detailed expense data used to estimate intermediate inputs included packaging materials and containers; data processing and other purchased computer services; communication services; repairs and maintenance to machinery and equipment; repairs and maintenance to buildings, structures, and offices; rental payments for machinery and equipment; rental payments for buildings, offices, and stores; purchased electricity; purchased fuels (except motor fuels); water, sewer, refuse removal, and other utility payments; purchased transportation, shipping, and warehousing services; purchased advertising and promotional services; and purchased professional and technical services. Inputs were also interpolated using the 2007 benchmark I-O estimates.

Services, transportation and warehousing, and utilities

For selected Census-covered industries, information from the 2012 SAS on operating expenses was used. Detailed expense data used to estimate intermediate inputs included materials, parts, and supplies (not for resale); purchased electricity; purchased fuels (except motor fuels); rental payments for machinery, equipment, and other tangible items; rental payments for buildings, structures, and land; repairs and maintenance to machinery and equipment; repairs and maintenance to buildings, structures, and offices; advertising and promotional services; printing services; data processing and other purchased computer services; communication services; water, sewer, refuse removal, and other utilities; professional and technical services; and all other operating expenses.

For industries not covered by Census, inputs were estimated from a variety of sources, including data from the 2012 SAS on operating expenses, and data from Amtrak, Department of Transportation Surface Transportation Board, Alaska Rail, Department of Energy, and Federal Reserve Board.

Value added:

Compensation of employees

Tabulations of wages and salaries from the Bureau of Labor Statistics QCEW program, and estimates of supplements to wages and salaries from the NIPAs were used; data were adjusted for misreporting and I-O industry definitions.

For industries not covered by the QCEW, payroll data from the 2012 Economic Census were used; data were adjusted for misreporting and I-O industry definitions. Benefits data were based on the relationship between the Economic Census, SAS, and Business Expenses Supplement reported benefits and payroll data, applied to the 2012 QCEW wage and salary data. For the remaining industries, benefits were estimated using indirect techniques.

All estimates were adjusted to sum to total compensation by industry in the NIPAs.

Taxes on production and imports less subsidies

The estimates by industry were prepared in two parts: For excise and general sales taxes, the values were estimated either as part of each industry's output or directly assigned; for other taxes, assessments and license fees, the estimates were distributed on the basis of a variety of source data, including state government tax collections statistics, the ASM, ARTS, AWTS and SAS. For all other tax liabilities, estimates were distributed to industries using indirect techniques. Subsidies are directly assigned to specific industries based on which industry is collecting the subsidy.

All estimates were adjusted to balance to total taxes on production and imports less subsidies, by industry in the national income and product accounts.

Gross operating surplus

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Source data and methods used in 2012 benchmark year

Intermediate inputs1

For most industries, gross operating surplus reflects a quality-weighted average of a residual estimate (total industry output less total intermediate inputs, compensation of employees, and taxes on production and imports less subsidies) and a direct estimate based on summing up the components of gross operating surplus from the NIPAs, adjusted to an establishment basis.2

ARTS	Annual Retail Trade Survey
ASM	Annual Survey of Manufactures
AWTS	Annual Wholesale Trade Survey
I-O	Input-Output
NIPAs	National Income and Product Accounts
QCEW	Quarterly Census of Employment and Wages
SAS	Service Annual Survey

1. Estimates for intermediate inputs were adjusted during the process of balancing commodity purchases across industries with commodity output totals.
2. See Dylan G. Rassier, Thomas F. Howells III, Edward T. Morgan, Nicholas R. Empey, and Conrad E. Roesch,
   "Integrating the 2002 Benchmark Input-Output Accounts with the 2002 Annual Industry Accounts," Survey of Current Business 87 (December 2007): 14-22.

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Table C. Principal Data Sources for Quarterly Industry and Commodity Output and Prices

	Industry and	Source data for current-dollar	Source for price indexes
	commodity	statistics
	Agriculture, forestry, fishing, and hunting
	Farms	Farm output from the BEA NIPAs based	NIPA prices based on USDA price indexes received by
	on USDA ERS data	farmers
	Forestry,	For forestry, FRB IPI and BLS PPI; for
	fishing, and	BLS PPI and USDA National Agriculture Statistics Services
	fishing, commercial fishery landings data
	related	unit prices
	from NOAA, and Census M3 data
	activities
	Mining
	Oil and gas	FRB IPI and BLS PPI	BLS PPI
	extraction
	Mining, except	FRB IPI and BLS PPI	BLS PPI
	oil and gas
	Support	FRB IPI, BLS PPI, and NIPA fixed
	activities for	investment in mining exploration based	BLS PPI and NIPA prices based on trade source data
	mining	on trade source data
	Utilities
		For electric power generation,
		transmission, and distribution, EIA form
		861M; for natural gas distribution, EIA	BLS CPI and BLS PPI
		Natural Gas Monthly; for water, sewage,
		and other systems, Census Bureau QSS
	Construction
		NIPA fixed investment in structures	Census Bureau price deflator for multi-family home
		construction, composite price of new single-family houses
	Residential	based primarily on Census Bureau VIP
	under construction and the Turner Cost Index, and BEA
		survey
		prices
		NIPA fixed investment in structures	BEA composite prices based on trade source data and on
	Nonresidential	based primarily on Census Bureau VIP
	data from the Bureau of Reclamation and BLS PPI
		survey
	Manufacturing
		Census Bureau M3 and NIPA electronic
		computer shipments; for petroleum	BLS PPI and NIPA price indexes based on DOD prices paid
		products, EIA production data and BLS	for military equipment and NIPA hedonic prices
		PPI
	Wholesale trade
		Census Bureau Monthly Wholesale Trade	BLS PPI and NIPA sales deflators
		Survey data
	Retail trade
		Census Bureau Monthly Retail Trade	BLS PPI and NIPA sales deflators
		Survey data
	Transportation and warehousing
		For air transportation, NIPA PCE and	For air transportation, BLS PPI; for rail, BLS PPI for rail
		passenger transportation and BLS PPI for freight; water
		Census Bureau QSS data; for rail
		transportation, BLS PPI, BLS CPI, and trade source data; for
		transportation, Surface Transportation
		truck transportation, BLS PPI; for transit and ground
		Board freight earnings data; for water,
		passenger transportation, NIPA PCE prices; for pipeline
		truck, transit and ground passenger,
		transportation, BLS PPI; for warehousing, BLS PPI; for
		pipeline transportation, and
		other transportation and support activities, NIPA PCE
		warehousing, Census Bureau QSS data
		prices and BLS PPI
	Information
		Census Bureau QSS data, BLS QCEW, and	For publishing industries (including software), BEA prices
		box office revenues from trade source	for software and BLS PPI; for information and data
		data	processing, NIPA PCE prices and BLS PPI

Finance and insurance

- 17 -

	Industry and	Source data for current-dollar	Source for price indexes
	commodity	statistics
	Federal	Census Bureau QSS data, Federal Deposit
	Reserve banks,	Insurance Corporation commercial bank
	credit	call report data, FBR data, National Credit	NIPA PCE prices
	intermediation,	Union Administration data, and NIPA
	and related	measures of financial services indirectly
	activities	measured
	Securities,	Census Bureau QSS data and Securities
	commodity	and Exchange Commission Financial and	BLS PPI and NIPA PCE prices
	contracts, and	Operational Combined Uniform Single
	investments	Reports
	Insurance
	carriers and	NIPA PCE, Census Bureau QSS data, and	BLS PPI and NIPA PCE prices
	related	trade source data
	activities
	Funds, trusts,
	and other	NIPA PCE and NIPA imputed service	NIPA PCE prices
	financial	charges for other financial institutions
	vehicles
	Real estate and rental and leasing
		For residential dwellings, NIPA PCE, and
		NIPA housing data; for nonresidential
		structures, NIPA government receipts,	For residential dwellings, NIPA PCE prices and NIPA
	Real estate	NIPA private fixed investment, NIPA	implicit price deflators for farm rents paid; for
	brokers' commissions, BEA foreign	nonresidential structures, BLS PPI and NIPA implicit price
		expenditures from the international	deflators for nonprofit imputed rents
		transactions accounts, and BLS QCEW
		data
	Rental and
	leasing	For rental and leasing services, Census
	services and
	Bureau QSS data, NIPA royalty income,	BLS PPI and NIPA prices
	lessors of
	and NIPA PCE rental income
	intangible
	assets
	Professional, scientific, and technical services
			For legal services, BLS PPI and NIPA PCE prices; for
		Census Bureau QSS data, NIPA PCE data,	computer systems design and related services, BEA price
		BLS QCEW data, and NIPA R&D data	indexes for software; for miscellaneous services, BLS PPI,
			NIPA PCE prices, and BEA price index for R&D
	Management of companies and enterprises
		BLS QCEW data	BLS PPI
	Administrative and waste management services
		Census Bureau QSS data and BLS QCEW	BLS PPI and NIPA PCE prices
		data
	Educational Services
		Census Bureau QSS data and NIPA PCE	NIPA PCE prices based on trade source data for input costs
		data
	Health care and social assistance
			For ambulatory health care services, NIPA PCE prices
			based on BLS CPI and BLS PPI; for hospitals and nursing
		Census Bureau QSS data	and residential care facilities, NIPA PCE prices based on
		BLS CPI and Center for Medicare and Medicaid Services;
			for social assistance, NIPA PCE prices based on trade
			source data
	Arts, entertainment, and recreation
		Census Bureau QSS data	BLS PPI and NIPA PCE prices
	Accommodation and food services
		Census Bureau QSS data and Monthly	For accommodation, BLS PPI and NIPA PCE prices; for food
		Retail Trade Survey data	services, NIPA PCE prices

Other services, except government

- 18 -

Industry and	Source data for current-dollar	Source for price indexes
commodity	statistics
		For repair and maintenance, personal
		services, and grantmaking, civic,
		professional, and similar organizations,
		Census Bureau QSS data; for religious,	BLS PPI and NIPA PCE prices
		labor, and political organizations, NIPA
		PCE data; for private households, NIPA
		compensation
Federal
	General		NIPA prices based on BLS PPI, BLS CPI, DOD data on
	NIPA government expenditures statistics	employment prices, BLS employment cost indexes, and
	government
		construction cost indexes from trade source data
		U.S. Postal Service quarterly reports, EIA
	Government	monthly data for electric utility sales and
	revenue data for publicly owned utilities,	BLS PPI and NIPA PCE prices
	enterprises
	and NIPA PCE data for broader
		aggregates for other components
State and local
	General	NIPA government expenditures statistics	NIPA PCE prices
	government
		NIPA statistics on government
		enterprises based on the Census Bureau
		Annual Survey of Government Finances;
	Government	for Alaskan ferries, water ports, and	BLS PPI and NIPA PCE prices
	enterprises	airports, Alaska Railroad Administration;
		for electric utilities, EIA data; for state
		and local government structures, Census
		Bureau VIP Survey
BEA	Bureau of Economic Analysis
BLS	Bureau of Labor Statistics
CPI	Consumer Price Index
DOD	Department of Defense
EIA	Energy Information Administration
ERS	Economic Research Service
FRB	Federal Reserve Board
IPI	Industrial production index
M3	Manufacturers' Shipments, Inventories, and Orders
NAICS	North American Industry Classification System
NIPA	National Income and Product Accounts
NOAA	National Oceanic and Atmospheric Administration
PCE	Personal Consumption Expenditures
PPI	Producer Price Index
QCEW	Quarterly Census of Employment and Wages
QSS	Quarterly Services Survey
R&D	Research and development
USDA	United States Department of Agriculture
VIP	Value of Construction Put in Place Survey

- 19 -

1. For more information, see "The 2020 Annual Update of the National Income and Product Accounts," Survey ofCurrent Business100 (August 2020) and Rudy Telles Jr., Nick Martinez, and Ted Peck, "Annual Update of the U.S. International Transactions Accounts,"Survey100 (July 2020).
2. Beginning with the 2019 annual update of the IEAs, the typical revision window is the 5 most recent years.
3. For more information, see "The 2020 Annual Update of the National Income and Product Accounts," Survey 100 (August 2020).
4. Beginning with the 2018 comprehensive update of the IEAs, the supply-use framework is BEA's featured presentation of input-output tables.

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Acknowledgments

Erich H. Strassner, Associate Director for National Economic Accounts, directed the preparation of this year's annual update of the IEAs. David B. Wasshausen, Chief of the Expenditure and Income Division, and Thomas F. Howells III, Chief of the Industry Economics Division, oversaw major parts of the update. Shelly Smith coordinated the production and review of the update and was assisted by Annabel Jouard. Pamela A. Kelly, Robert J. Kornfeld, Benjamin A. Mandel, Edward T. Morgan, and Dylan G. Rassier provided overall guidance as well as critical review and analysis.

The following BEA staff members significantly contributed to this year's annual update:

Analytics, innovation, and development: Brendan Leary (Chief) and Wade M. Petty and Luis Felipe Martinez (Section Chiefs). Michael J. Boehm, Jason W. Chute, Gabriel Medeiros, William S. Melnick, Simone Miles, Andrew J. Pinard, Daniel W. Powell, Michael Randall, and Phillip Sporrer.

Business and consumer services: Jeffrey L. Barnett (Chief) and Harvey L. Davis Jr. and Paul Kern (Section Chiefs). Kenneth R. Beatty, Alexander Driessen, Alexander Eisenmann, Robert N. Ganz III, Taylor Grant, Sarah Osborne, Amanda Roberts, Darlene Robinson, Matthew R. Snead, and Teresita D. Teensma. Communications: Jeannine Aversa and Danielle Helta (Branch Chiefs). Ryan Byrnes, Thomas B. Dail, Colby Johnson, Gianna Marrone, Kristina Maze, Ann McDonel, Mary-Lynne Neil, and Connie O'Connell.

Farm income: Marcello Yoon (Chief). Dan Corrin, Hong Han, Michelle Harder, and Elizabeth McCormack.

Goods and distributive services: Kyle J. Brown (Chief) and William H. Nicolls and Patricia Washington (Section Chiefs). Rachel Goulder, Everette P. Johnson, Gregory Linder, Luke Mendelsohn, Lonna Morrow, Farouk Nabourema, Andres Orozco, Ricky Stewart, Blaire Thomson, Michael Woehrman, and Andrew Woodard.

Government: Mark S. Ludwick (Chief) and Peter G. Beall and Andrea Cook (Section Chiefs). Steven Andrews, Aaron Baker, Stan Bellotti, Brendan Brankin, Christopher Bravo, Daniel Jackson, Kyle Kinler, Aida Kurti, Katia Murrugarra, Kelly Ramey, Mary Roy, and Andrew Vargo.

Investment and international trade: Michael Armah (Chief) and Rebecca E. Pocase and Greg J. Prunchak (Section Chiefs). Hussein S. Charara, Dominique Dubria, Jeremy P. Elder, Linda Fawaz, David T. Hill, Brian Lindberg, Tyler Mathes, David F. Mendez, and Erica Smith.

Income and value added: Jennifer Lee (Chief) and Howard Krakower and Brian Smith (Section Chiefs). Richard Cao, Elizabeth T. Driscoll, Brad Fowler, Teresa Gilmore, Velma Henry, Marina Kotzavekiaris, Bonnie A. Retus, Marlyn Rodriguez, Casey Ross, Kate Shoemaker, Chelsea Smith-Nelson, Rebekah Todd, Dennis Weikel, and Patricia Weng.

Macro analysis and communications: Jeffrey A. Young (Chief) and Jennifer A. Bennett, Matthew Calby, and Marissa J. Crawford (Section Chiefs). Michael Cortez, Gary Davis, Connor Franks, Tyler Gold, Jason Haurie, Lisa S. Mataloni, Stephanie H. McCulla, Karin Moses, Jessica R. Nicholson, Robert Omohundro, James Rankin, Michelle Robinson, Karl V. Rohrer, and David F. Sullivan.

Mining, manufacturing, and fixed assets: William Joliff (Chief) and Justin Harper (Section Chief). Shaun Carter, David Curtis, Michael Cusick, Patrick Georgi, Michelle S. Grier, Kevin Hawes, Ethan Schein, Dorian Turner, and Evan Wang.

This article was prepared by Connor Franks and Robert Omohundro. Michael Cortez assisted with the preparation of the charts and tables.

Survey of Current Business apps.bea.gov/scb [e-mail] [phone]

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