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New Estimates of Value of Land of the United States

April 15, 2015 Comments off

New Estimates of Value of Land of the United States (PDF)
Source: Bureau of Economic Analysis

Land is an important and valuable natural resource, serving both as a store of wealth and as an input in production. Previous attempts to measure the value of land of the United States have focused on indirect measures, inferring values based on the difference between the market value of real property and the replacement value of structures, and have not counted the entirety of the land area of the United States. Instead, this paper takes hedonic estimates of land prices in various locations and interpolates these values to a mosaic of parcels, census tracts, and counties of various sizes in the contiguous (lower 48) United States plus the District of Columbia. Estimates suggest that this 1.89 billion acres of land are collectively worth approximately $23 trillion in 2009 (current prices), with 24% of the land area and $1.8 trillion of the value held by the federal government.

Local Area Personal Income, 2013

November 21, 2014 Comments off

Local Area Personal Income, 2013
Source: Bureau of Economic Analysis

Personal income grew in 2013 in 2,695 counties, fell in 390, and was unchanged in 28, according to estimates released today by the U.S. Bureau of Economic Analysis. On average, personal income rose 2.0 percent in 2013 in the metropolitan portion of the United States and rose 2.1 percent in the nonmetropolitan portion. The metropolitan and nonmetropolitan portions grew 5.3 percent and 4.4 percent, respectively, in 2012. The percent change from 2012 to 2013 in personal income ranged from -35.0 percent in LaMoure County, North Dakota to 32.3 percent in Greeley County, Kansas. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.2 percent in 2013 from 1.8 percent in 2012.

Economic Growth Widespread Across Metropolitan Areas in 2013

September 30, 2014 Comments off

Economic Growth Widespread Across Metropolitan Areas in 2013
Source: Bureau of Economic Analysis

Real GDP increased in 292 of the nation’s 381 metropolitan areas in 2013, led by widespread growth in finance, insurance, real estate, rental, and leasing, nondurable-goods manufacturing, and professional and business services, according to new statistics released today by the U.S. Bureau of Economic Analysis. Natural resources and mining also spurred strong growth in several metropolitan areas. Collectively, real GDP for U.S. metropolitan areas increased 1.7 percent in 2013 after increasing 2.6 percent in 2012.

Personal Consumption Expenditures by State, 1997-2012 (Prototype Estimates)

August 25, 2014 Comments off

Personal Consumption Expenditures by State, 1997-2012 (Prototype Estimates)
Source: Bureau of Economic Analysis

Today, the U.S. Bureau of Economic Analysis released prototype estimates of personal consumption expenditures (PCE) for states for 1997-2012. These new estimates provide insight into household spending patterns across states that can be used together with other regional data to gain a better understanding of regional economies.

The data provide a new tool for state-level analysis of consumer activity and household economic well-being. The statistics can be used by state and regional policy makers for fiscal analysis and by businesses targeting regional markets. These prototype estimates are released for evaluation and comment by data users.

Quarterly Gross Domestic Product by State, 2005–2013 (Prototype Statistics)

August 21, 2014 Comments off

Quarterly Gross Domestic Product by State, 2005–2013 (Prototype Statistics)
Source: Bureau of Economic Analysis

Today, the U.S. Bureau of Economic Analysis released prototype statistics of quarterly gross domestic product (GDP) by state for 2005–2013. These new statistics provide a more complete picture of economic growth across states that can be used with other regional data to gain a better understanding of regional economies as they evolve from quarter to quarter.

The new data provide a fuller description of the accelerations, decelerations, and turning points in economic growth at the state level, including key information about changes in the distribution of industrial infrastructure across states. These prototype statistics are released for evaluation and comment by data users.

National Income and Product Accounts — Gross Domestic Product: Second Quarter 2014 (Advance Estimate)

July 30, 2014 Comments off

National Income and Product Accounts — Gross Domestic Product: Second Quarter 2014 (Advance Estimate)
Source: Bureau of Economic Analysis

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 4.0 percent in the second quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent (revised).

Widespread But Slower Growth in 2013: Advance 2013 and Revised 1997—2012 Statistics of GDP by State

June 20, 2014 Comments off

Widespread But Slower Growth in 2013: Advance 2013 and Revised 1997—2012 Statistics of GDP by State
Source: Bureau of Economic Analysis

Real gross domestic product (GDP) increased in 49 states in 2013, according to new statistics released today by the Bureau of Economic Analysis (BEA). Nondurable–goods manufacturing; real estate and rental and leasing; and agriculture, forestry, fishing, and hunting were the leading contributors to real U.S. economic growth. U.S. real GDP growth slowed to 1.8 percent in 2013 after increasing 2.5 percent in 2012.

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