In this issue, we’re pleased to present an article that details the most recent statistics about the travel and tourism industry. As measured by the real output of goods and services sold directly to visitors, growth in the industry decelerated in 2017, increasing 1.7 percent after increasing 3.2 percent in 2016, according to the Travel and Tourism Satellite Account of the Bureau of Economic Analysis (BEA).
This month’s Regional Quarterly Report discusses advance real state gross domestic product (GDP) statistics for 2017, revised GDP statistics for 2014–2016 as well as regional price parities and real per capita personal income for 2016. In addition, the report discusses recently released Arts and Cultural Production Satellite Account data for 2015 and updated data for 2013 and 2014; for the first time, BEA included state-level statistics for value added by arts and cultural industries for 2001 to 2015.
In addition, the “GDP and the Economy” article discusses the second estimates of GDP for the first quarter of 2018. A separate article details government receipts and expenditures for the first quarter of 2018. And just a reminder, BEA will release the results of the 15th comprehensive (or benchmark) update of the National Income and Product Accounts, along with the advance estimate of GDP for the second quarter of 2018, on July 27, 2018. Details about the upcoming revision are discussed in an article in the April Survey of Current Business.
Brian C. Moyer
Bureau of Economic Analysis