Director’s Message
Given the importance of nonmarket production, the Bureau of Economic Analysis publishes a satellite account that estimates the value of production by households. In this issue, we update these estimates through 2017, providing estimates of gross domestic product (GDP) that incorporate the production of these nonmarket services and the return to consumer durable goods.
A separate article looks at newly released national and state-level Arts and Cultural Production Satellite Account (ACPSA) estimates for 2016. In 2016, Nevada led the nation in ACPSA growth, followed by Washington, Georgia, and Utah.
Elsewhere, we discuss price levels for housing rents in the regional price parities (RPPs). RPPs provide a measure of differences in price levels across states and metropolitan areas relative to the national average.
This month’s “GDP and the Economy” article discusses the second estimate of GDP for the first quarter of 2019. A separate article details government receipts and expenditures for the first quarter of 2019.
