Director’s Message
In this issue, we’re pleased to present a series on “GDP and Beyond,” a Bureau of Economic Analysis (BEA) initiative to expand our national accounts beyond conventional measures of economic growth by highlighting aspects of economic well-being and sustainability. We include an article that outlines our plans and progress for the initiative and also panelist summaries from the 2020 Annual Meeting of the American Economic Association, where leading economists gathered to discuss the subject of economic well-being and BEA’s future directions in this area of measurement. Our goal is to break out economic activity in ways that relate to the economic experience of everyday Americans, and we welcome your feedback on this effort.
This month’s “GDP and the Economy” article discusses the second estimate of gross domestic product for the first quarter of 2020, and a separate article details government receipts and expenditures, also for the first quarter of 2020.
