Update on Gross Domestic Product by County Statistics
This project update for the BEA Advisory Committee meeting on November 9, 2018, outlines the process of releasing prototype statistics related to Gross Domestic Product by County. It details the identification of data sources, methodology development, estimation software, and official release review. The release includes GDP estimates for all counties, industry details, data series, and feedback contact information. Additionally, it explains the methodology for GDP calculations at the state, metropolitan area, and county levels.
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Presentation Transcript
Gross Domestic Product by County Statistics: A Project Update BEA Advisory Committee Meeting November 9, 2018
Outline Status update Release of prototype statistics First look at results 2 10/1/2024
Status Update Identify data sources Process available data sources Acquire and process new data sources Develop methodology Develop estimation software Review and release prototype statistics Evaluate and refine methodology Apply suppressions Determine publishable detail Review statistics for official release 3 10/1/2024
Release of GDP by County (Prototype Estimates) Release date: December 12, 2018 Data series: Annual current- and inflation-adjusted GDP statistics for all counties (3,113) Industry detail: All industry total Private goods-producing industries Private services-producing industries Government Period: 2012-2015 Data user feedback: gdpbycounty@bea.gov 4 10/1/2024
Industry Detail All industry total Private goods-producing industries Agriculture, forestry, fishing, and hunting Mining Construction Manufacturing Private services-producing industries Utilities Wholesale trade Retail trade Transportation and warehousing Information Finance and insurance Real estate and rental and leasing Professional, scientific, and technical services Management of companies Administrative and support and waste management and remediation services Education services Health care and social assistance Arts, entertainment, and recreation Accommodation and food services Other services (except government and government enterprises) Government Federal civilian Military State and local 5 10/1/2024
General Methodology GDP by state: ??? = ???? + ??? + (???? ???) In the current methodology for GDP by metropolitan area: ??????????,???= ?(?????????,???) In the proposed methodology for GDP by county: ??????????,???= ? (?????????,???),(?? ?? ?????? ?????,???) 6 10/1/2024
Source Data GDP by state County earnings by industry Quarterly Census of Employment and Wages (QCEW) Statistics of Income (SOI) Economic Census National Establishment Time-Series (NETS) Database Farm: U.S. Department of Agriculture (USDA) Banking: Federal Deposit Insurance Corporation (FDIC) Utilities: Energy Information Administration (EIA) 7 10/1/2024
Corroboration Sources NETS database IncentivesMonitor.com Database The State Business Incentives Database The State Development Program Expenditures Database Conway Data s New Plant Database Mining: Energy Information Administration (EIA), Drilling Edge 8 10/1/2024
Key Improvements More accurate geographic allocation of industry output, particularly for capital intensive industries More accurate identification of economic turning points Lower suppression rates 9 10/1/2024
GDP by County, Current Dollars, 2015 Total GDP Per Capita Total GDP 10 10/1/2024
South Dakota Counties, 2015 Accommodations and Food Services Minnehaha Pennington Brown Log (GDP) Lincoln Brookings Prototype GDP Earnings-Based GDP Banking Minnehaha Pennington Brown Lincoln Log (GDP) Brookings Prototype GDP Earnings-Based GDP 11 10/1/2024
Vermont Counties, 2015 Accommodations and Food Services Chittenden Windham Rutland Windsor Log (GDP) Franklin Washington Prototype GDP Earnings-Based GDP Utilities Windham Chittenden Rutland Franklin Log (GDP) Windsor Washington Prototype GDP Earnings-Based GDP 12 10/1/2024
Vermont Counties, Utilities 2013 Windham Rutland Chittenden Log (GDP) Franklin Windsor Prototype GDP Earnings-Based GDP 2015 Windham Chittenden Rutland Franklin Log (GDP) Windsor Prototype GDP Earnings-Based GDP 13 10/1/2024
Windham, VT: Utilities Prototype GDP Earnings-Based GDP EIA Electricity Generation Millions of kilowatts Millions of dollars 2012 2013 2014 2015 2016 2017 Industry Earnings Millions of dollars 2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017 14 10/1/2024
Vermont Counties, Utilities 2013 Windham Rutland Chittenden Log (GDP) Franklin Windsor Prototype GDP Earnings-Based GDP 2015 Windham Chittenden Rutland Franklin Log (GDP) Windsor Prototype GDP Earnings-Based GDP 15 10/1/2024
Rutland, VT: Utilities Prototype GDP Earnings-Based GDP EIA Electricity Generation Millions of kilowatts Millions of dollars 2012 2013 2014 2015 2016 2017 Industry Earnings Millions of dollars 2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017 16 10/1/2024
Rutland, VT: Utilities Rutland s Share of Vermont Utilities Industry 2012 2013 2014 2015 2016 2017 EIA share Earnings share 17 10/1/2024
Next Steps Develop further improvements and refinements to the prototype statistics Construction: Dodge Data and Analytics Transportation: Bureau of Transportation Statistics (BTS) Mining: Energy Information Administration (EIA), Drilling Edge County Business Patterns LEHD Quarterly Workforce Indicators (QWI) Analyze suppression patterns and determine the level of industry detail for official release Continue to solicit and incorporate data user feedback Official release on December 12, 2019 18 10/1/2024
