Improved Estimates of the National Income and Product Accounts Results of the 2013 Comprehensive Revision

摘要

ON JULY 31, 2013, the Bureau of Economic Analysis (BEA) released the initial results of the 14th comprehensive revision of the national income and product accounts (NIPAs), beginning with revised estimates for 1929. Comprehensive revisions provide opportunities for BEA to make changes to its economic accounts in order to increase the overall quality and usefulness of the accounts. For instance, as part of this comprehensive revision, BEA implemented improvements to important measures such as the value of pension compensation and the services provided by the financial sector, and it expanded the economic perspective of the accounts by recognizing the contributions of innovation to productivity. These improvements better align the NIPAs with the recommendations of new international standards for compiling national and international economic accounts in order to maintain comparability with other nations' accounts.