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Further Integrating BEA's Economic Accounts: Introducing Annual Input-Output Estimates into the Gross State Product by Industry Accounts

by John Sporing, Jr., George K. Downey, and John R. Kort

The December 2004 release of the GSP estimates takes BEA’s integration efforts one-step further, an important long-term goal in BEA’s Strategic Plan. Specifically, due to the concurrent release and integration of the annual IO accounts and the GDP-by-industry accounts and the resulting consistency of the estimates, the GSP program is now able to use these consistent and timelier annual IO accounts. This paper presents a new procedure for estimating GSP for most goods-producing industries for years 1998-2002 that integrates the GSP accounts more closely with the annual IO accounts and the GDP-by-industry accounts.

Updated: April 18, 2005