BEA’s KLEMS Statistics: Measuring Outputs and Intermediate Inputs

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Presentation transcript:

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

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

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

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

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

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

Balanced I-O Framework

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

BEA’s KLEMS Statistics Data for 2008

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

Purchased Services Shares

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

KLEMS Prices

Expanded Detail on Energy

Quarterly GDP by Industry Transportation and Warehousing Industry