Survey of Current Business

Survey of Current Business
Chronicling 100 Years of the U.S. Economy

May 2022
Volume 102, Number 5

Photo of Mary Bohman

For information about Acting Director Mary Bohman and the Bureau, visit the BEA Leadership page.

Director’s Message

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In the Survey of Current Business this month, we present our “GDP and the Economy” article that discusses the advance estimate of gross domestic product (GDP) for the first quarter of 2022.

The article also provides a preview of the 2022 annual update of the National Economic Accounts (NEAs), which include the National Income and Product Accounts (NIPAs) and the Industry Economic Accounts (IEAs), to be released on September 29. As part of ongoing efforts at the Bureau of Economic Analysis (BEA) to harmonize the production and publication of the NIPAs, IEAs, and Regional Economic Accounts (REAs), improvements from the annual update of the NEAs will impact all three sets of accounts. Each account will also for the first time reflect the same time period, with the annual update of the REAs to be released on September 30. Previously, the publication of BEA’s annual updates was spread over multiple months from July to October. Coordinating the annual updates for these three major dimensions of GDP will provide more consistency across our accounts and will give our users a more robust and timely view of the U.S. economy.