Director’s Message

In this issue of the Survey of Current Business, we discuss the details of the 2021 annual update of the Industry Economic Accounts, which provide revised estimates of gross domestic product (GDP) by industry beginning with 1999 through 2020 for annual estimates and the first quarter of 2005 through the first quarter of 2021 for quarterly estimates. The revisions reflect the 2021 annual updates of the National Income and Product Accounts and the International Transactions Accounts as well as the incorporation of new and revised source data.

We also highlight the Bureau’s international services statistics. These annual statistics cover U.S. international trade in services in 2020 as well as services supplied by foreign affiliates of U.S. multinational enterprises (MNEs) and U.S. affiliates of foreign MNEs in 2019 and are presented for the first time in our Visual Essay format. Separate articles present U.S. international transactions statistics and U.S. international investment position statistics for the second quarter of 2021.

Our “GDP and the Economy” article this month discusses GDP and GDP by industry, both for the second quarter of 2021.