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BEA’s Regional Program:
An Update
Charles Ian Mead
C2ER Annual Conference
June 12, 2015
www.bea.gov
Plan of Talk
▪ BEA Director
▪ Budget update
▪ Recent developments
 RIMS II restoration
 New products
▪ Request for feedback
www.bea.gov
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Budget Initiatives
▪ FY 2014: “Build it here, sell it everywhere”
 State-level FDI detail
 Short-term lease extension
▪ FY 2015: “Big Data for Small Business”
 Small business satellite account
 Moving costs
www.bea.gov
3
RIMS II Restoration
▪ Benchmark series
▪ Updated data
 Regional: Every year
 Industry: Every 5 years
▪ 2015 release
 2007 Benchmark I-O data
 2013 regional data
www.bea.gov
4
PCE by State
▪ Household spending measure
▪ Includes





www.bea.gov
Out-of-pocket spending
Spending on behalf of households
Owner-occupied housing
Financial services without explicit payment
Net spending of non-profits
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PCE by State
▪ First official release: December 1, 2015
 Annual statistics: 1997-2014
 16 spending categories
▪ Possible uses
 Identify consumer markets
 Examine spending trends over time
 Per capita measures an indicator of
economic well-being
www.bea.gov
6
PCE by State
Per Capita PCE by State, Housing and Utilities, 2012
www.bea.gov
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Per Capita PCE by State
www.bea.gov
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Quarterly GDP by State
▪ First official release: September 2, 2015
 2005Q1 – 2015Q1
 Detail for 21 industries

▪ Possible uses
 Early read on economy
 Precise identification of turning points
www.bea.gov
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Arizona
Percent Change in Real GDP
10
5
0
-5
-10
Annual GDP
Quarterly GDP
-15
-20
1
2
3
2007
www.bea.gov
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
4
2010
10
North Dakota
Real GDP
9000
Real estate and rental and leasing
Mining
Agriculture, forestry, fishing, and hunting
Millions of Chained (2009) Dollars
8000
7000
6000
5000
4000
3000
2000
1000
0
1
2
3
2008
www.bea.gov
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
2012
4
1
2
3
4
2013
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Solicitation of ideas
▪ Dissemination
▪ Improved products
▪ New products
www.bea.gov
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