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BEA’s KLEMS Statistics: Measuring Outputs and Intermediate Inputs

BEA’s KLEMS Statistics: Measuring Outputs and Intermediate Inputs. Brian C. Moyer. World KLEMS Conference Harvard University August 19-20 th , 2010. BEA’s Industry Accounts. Input-Output Accounts Benchmark Accounts Annual Accounts KLEMS Statistics GDP by Industry Statistics

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BEA’s KLEMS Statistics: Measuring Outputs and Intermediate Inputs

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  1. BEA’s KLEMS Statistics:Measuring Outputs and Intermediate Inputs Brian C. Moyer World KLEMS Conference Harvard University August 19-20th, 2010

  2. BEA’s Industry Accounts • Input-Output Accounts • Benchmark Accounts • Annual Accounts • KLEMS Statistics • GDP by Industry Statistics • Travel and Tourism Satellite Account • R&D Satellite Account

  3. 2010 Comprehensive Revision • Time-series annual I-O accounts, 1998-2008 • Incorporated 1997/2002 benchmark I-O accounts and 2009 NIPA revision • Expanded annual data on business expenses by industry • Improved measures of price change for the services sector

  4. Measuring Output • Industry and commodity output based on a variety of sources • Economic Census data • Census annual surveys (ASM, SAS, etc.) • Trade association data • Data from other government agencies • Detailed commodity distributions retained from benchmark estimates; manufacturing detail updated annually • Expanded Census data for the services sector

  5. Measuring Intermediate Inputs • Benchmark estimates based on Census data (~70%) and other data sources • Annual estimates based on input category controls • Benchmark-year inputs extrapolated with output quantity change • Detailed inputs “reflated” with appropriate input prices • Annual controls applied to groups of inputs

  6. Measuring Value Added • Direct and indirect measures of value added by industry: VA = GO - II • Direct measures based on compensation, taxes on production, and gross operating surplus from NIPA gross domestic income measures • Gross operating surplus based on “quality-weighted” benchmark-year values; company-to-establishment adjustments applied

  7. Balanced I-O Framework

  8. BEA’s KLEMS Statistics • Consistent with BEA’s Annual I-O Accounts—“use” table decomposition of E, M, & S categories by 4-digit NAICS commodities • Statistics available for 1998-2008 • Chained-type price and quantity indexes and contributions by industry

  9. BEA’s KLEMS Statistics Data for 2008

  10. Purchased Services Disaggregation S Aggregation of 30 4-digit commodities Utilities Telecomm Financial Rental & Leasing Outsourcing Other Services Domestic Imports

  11. Purchased Services Shares

  12. Industry production account • BEA/BLS work on aggregate production account • Ongoing work to develop prototype industry-level production account: K & L services from BLS; E, M, & S from BEA • Continued work to reconcile BEA/BLS industry output measures • Longer term: KLEMS statistics available prior to 1998; industry production account available for earlier years

  13. KLEMS Prices

  14. Expanded Detail on Energy

  15. Quarterly GDP by Industry Transportation and Warehousing Industry

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