In this issue, we are pleased to discuss details of the 2019 annual update of the Bureau of Economic Analysis (BEA) Industry Economic Accounts, which provide data for the second quarter of 2019 and revised quarterly and annual estimates beginning with 2014. The revisions reflect the 2019 annual updates of the National Income and Product Accounts (NIPAs) and the international transactions accounts.
A separate article 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 accelerated in 2018, increasing 4.2 percent after increasing 2.3 percent in 2017, according to BEA’s Travel and Tourism Satellite Account.
We also present our annual guide to the methodologies and source data for the NIPAs, a valuable resource for all users of the statistics. And our monthly “GDP and the Economy” article discusses the advance estimates for the third quarter of 2019.