The Bureau of Economic Analysis (BEA) Advisory Committee advises the Director of the BEA on matters related to the development and improvement of BEA's national, regional, regional, and industrial, and international economic accounts.
It especially focuses on areas of new and rapidly growing economic activities arising from innovative and advancing technologies. And, it provides recommendations from the perspectives of the economics profession, business, and government.
The Bureau of Economic Analysis Advisory Committee, which was established on September 2, 1999, held its twenty-ninth meeting on Friday, November 18, 2016 in Washington DC.
This meeting was open to the public, and it addressed ways in which the national economic accounts can be presented more effectively for current economic analysis and recent statistical developments in national accounting.
Please refer to the Federal Register Notice for more information on who to contact at the BEA about future Advisory Committee meetings.
BEA's Role in the Federal Statistical System
BEA is an agency of the Department of Commerce. Along with the Census Bureau, BEA is part of the Department's Economics and Statistics Administration (ESA).
BEA produces economic accounts statistics that enable government and business decision-makers, researchers, and the American public to follow and understand the performance of the Nation's economy. To do this, BEA collects source data, conducts research and analysis, develops and implements estimation methodologies, and disseminates statistics to the public.
BEA is one of the world's leading statistical agencies. Although it is a relatively small agency, BEA produces some of the most closely watched economic statistics that influence the decisions made by government officials, business people, households, and individuals.
BEA's economic statistics, which provide a comprehensive, up-to-date picture of the U.S. economy, are key ingredients in critical decisions affecting monetary policy, tax and budget projections, and business investment plans.
The cornerstone of BEA's statistics is the national income and product accounts (NIPAs), which feature the estimates of gross domestic product (GDP) and related measures.
The GDP was recognized by the Department of Commerce as its greatest achievement of the 20th century and has been ranked as one of the three most influential measures that affect U.S. financial markets.
Since the NIPAs were first developed in the aftermath of the Great Depression, BEA has developed and extended its estimates to cover a wide range of economic activities.