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Information on 2023 Comprehensive Updates to the National, Industry, and State Economic Accounts

In 2023, for the first time, BEA is producing its benchmark updates of the nation's gross domestic product and related industry and state statistics within the same timeframe. This page will present the results of the national, industry, and state comprehensive updates and information about the timing of those data releases.

BEA released initial results of the comprehensive update of the National Economic Accounts (NEAs), which include the National Income and Product Accounts (NIPAs) and the Industry Economic Accounts (IEAs), on September 28, 2023.

The comprehensive update will present revised statistics for gross domestic product (GDP), GDP by industry, and gross domestic income:

  • Current-dollar measures of GDP and related components will be revised from the first quarter of 2013 through the first quarter of 2023.
  • Gross domestic income and select income components will be revised from the first quarter of 1979 through the first quarter of 2023.
  • Current-dollar GDP by industry statistics will be revised beginning with 1997 for annual estimates and beginning with 2005 for quarterly estimates. For current-dollar measures, revisions prior to 2013 will be offsetting across industries within each period.

Output and price measures will use 2017 as the reference year; currently, the reference year is 2012. Quantity and price indexes will be expressed as 2017 equal to 100. Updating the reference year will not affect the percent changes in the price or quantity indexes (or in the chained-dollar estimates), because these changes are measured from chain-type indexes. Revisions to the percent changes in NEA aggregates will reflect the incorporation of newly available and revised source data as well as changes in methodologies. For more details, refer to the "Background Materials" section below.

Results

Briefing

Summary of Results

Note: Updated statistics for the first quarter of 2023 are discussed in the September 28 GDP News release.

NIPA Revisions: Components Detail and Major Source Data and Conceptual Changes Incorporated, 2017-2022 XLSX

Updated COVID-19 Pandemic Response Tables

Effects of Selected Federal Pandemic Response Programs on Personal Income, 2023 Comprehensive Update

Effects of Selected Federal Pandemic Response Programs on Federal Receipts, Expenditures, and Saving, 2023 Comprehensive Update

Paycheck Protection Program Subsidies by Industry in the National Accounts, 2023 Comprehensive Update

Data Availability

As is typical for comprehensive updates, the full set of revised statistics will be released on a flow basis beginning on September 28. This web page will be updated as more details become available and specific release dates are finalized. More specifically:

On September 28:

  • News release for "Gross Domestic Product (Third Estimate) and Corporate Profits (Revised), 2nd Quarter 2023 and Comprehensive Update"
  • "GDP & Personal Income" NIPA tables (quarterly and most annual frequency tables)
  • Benchmark Input-Output Supply and Use tables for 2017
  • "GDP by Industry" tables (annual frequency tables for GDP (value added), gross output, and intermediate inputs by industry), covering the period 2017-2022
  • "Underlying Detail" NIPA tables (quarterly and annual frequency tables)
  • Summary of update results including:
    • Summary text and tables
    • Briefing slides
    • A table presenting revisions for selected NIPA components and major source data incorporated

On September 29:

  • News release for "Personal Income and Outlays: August 2023"
  • All monthly "GDP & Personal Income" NIPA tables
  • All monthly "Underlying Detail" NIPA tables

This fall:

  • GDP by industry news release for the second quarter of 2023. BEA will send out an advisory with the exact day and time when available.
  • Fixed Assets Accounts tables
  • Remaining NIPA, GDP by Industry, and Input-Output tables
  • Survey of Current Business (SCB) article detailing the results of the 2023 Comprehensive Update of the NEAs
  • SCB article detailing the updated summary of NIPA methodologies

Background Materials

Table Changes

The templates below present updated formats for the GDP news release tables, the Personal Income and Outlays news release tables, the NIPA Interactive Data Application tables, and the flat files for NIPA series and table registers.

Updated formats for the Fixed Assets Accounts tables will be forthcoming.

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