The Bureau of Economic Analysis updated its prototype measures of economic well-being and growth today and for the first time released open-source code that allows users to tailor the charts and tables to meet their needs.
The prototype measures package some of BEA’s headline statistics with data from other statistical agencies to spotlight trends in well-being and the drivers of economic growth.
Publishing the open-source notebook and related documentation on BEA’s GitHub repository allows users to update the charts and tables on the fly and customize the presentation. Publishing the code also increases transparency, allowing the public to explore the underlying methods and data more closely or to replicate the information.
BEA launched these prototype measures in 2020, as part of its broader GDP and Beyond initiative. Since then, the bureau has provided periodic updates. Moving forward, BEA will explore setting a regular schedule of updates, engage with the developer community to identify possible improvements, and look for other opportunities to release open-source content.