Tag Archives: U.S. Bureau of Economic Analysis

Real Gross Domestic Product by State & Area

… tools to access and analyze GDP patterns and trends … Gross Domestic Product (GDP) is a comprehensive measure of U.S. economic activity. This section provides access to annual GDP estimates for the period 2010 through 2015 and tools to analyze these data. The 2015 data are the latest estimates as of June 2016 (about these data). This section provides data and tools focused on the U.S. and states. In September 2016, this section updates to include the new 2015 estimates of metropolitan area GDP and revised historical updates. Follow this blog to receive updates. See the related Web section for more details about topics covered in this post.

Patterns of Per Capita Real GDP & Percent Change by State
The following graphic shows patterns of the 2015 per capita real GDP by state. The color patterns/intervals are shown in the inset legend. In the larger view (click graphic), states are labeled with 2015 per capita real GDP (white label) and percent change in per capita real GDP, 2010-2015. Click graphic for larger view. Expand browser to full window for best quality view. The larger view shows a mini-profile for Texas. Use the GIS tools described below to develop thematic pattern map using any combination of these items from 2000 forward.

.. view developed using the CV XE GIS software.
.. click map for larger view and details.

Importance
GDP is an important part of planning, management and decision-making in the private and public sectors. It is watched closely by all stakeholders as to how the economy is trending. By adjusting current dollar GDP to constant dollar GDP, we can better examine the trends and patterns by removing inflation from the measures. By examining GDP at the metro and sub-state area, businesses and policy-makers can better determine GDP patterns on a regional basis. Regional analysis of GDP is very important as magnitude and change vary widely. By examining the size and trends of regional real GDP on a per capita basis, we are better able to examine patterns and trends at the individual level.

Modeling, Projections & Access/Analysis/Interpretive Tools
GDP is an important part of the ProximityOne Regional Demographic-Economic Modeling System (RDEMS). The RDEMS model specifies cause and effect relationships with GDP and GDP components and other data to develop current estimates and projections.

Use these tools to access/analyze GDP characteristics and patterns:
• interactive table – access in related Web section
• analyzing patterns using GIS resources – see details in related Web ection
• RDEMS database access
.. illustrative example of GDP patterns in context with other measures
.. Texas briefing notes (see notes “Texas per capita real GDP” on that page)
.. Access briefing notes for any state

Interactive Table
Use the interactive table below to examine per capita real GDP by state in context of other states and the U.S. This table expands to include metros in September 2016. The content of the table also expands to include GDP sectors and components

Per Capita Real Gross Domestic Product by State & Area
— 2000-2015
— interactive table
The following graphic shows states ranked on percent change in per capita real GDP. Click graphic for larger view. Use the interactive table to view rankings of interest. Export the data for further analysis.

Analyzing GDP using GIS Resources
— requires Windows computer with Internet connection
1. Install the ProximityOne CV XE GIS
… run the CV XE GIS installer
… take all defaults during installation
2. Download the GDP GIS project fileset
… requires ProximityOne User Group ID (join now)
… unzip GDP GIS project files to local folder c:\gdp
3. Open the c:\gdp\us1gdp.gis project
… after completing the above steps, click File>Open>Dialog
… open the file named c:\gdp\us1gdp.gis
4. Done. The start-up view is shown at top of this section.

Join me in a Data Analytics Lab session to discuss more details about accessing and using wide-ranging demographic-economic data and data analytics. Learn more about using these data for areas and applications of interest.

About the Author
— Warren Glimpse is former senior Census Bureau statistician responsible for innovative data access and use operations. He is also the former associate director of the U.S. Office of Federal Statistical Policy and Standards for data access and use. He has more than 20 years of experience in the private sector developing data resources and tools for integration and analysis of geographic, demographic, economic and business data. Contact Warren. Join Warren on LinkedIn.

Regional Economic Information System Updates

Goto ProximityOne  Are we better off? … How is our per capita measure of economic prosperity trending?  Answers to these questions, helping us determine where we are and how things might change in the future are partly provided by the REIS economic data updated in November 2013. This section provides an overview of the latest  Regional Economic Information System (REIS) data and how these data compare to other data in related analyses and decision-making applications.  The REIS county-level data are annually updated by the U.S. Bureau of Economic Analysis.

The change in per capita personal income, 2008-2012, by county is shown in the map below (second map shows percent change, same period).  Per capita personal income (PCPI) is the most comprehensive measure of economic activity available at the county level for all counties in the U.S.

pcpi0812

PCPI Percent Change 2008-12 almost mirrors dollar change shown above.
pcpi0812pct

Our work with the REIS data dates to the 1970s where these data were used in state forecasting models by the State of Missouri.  Today, we integrate the REIS data into Situation&Outlook.  The REIS annual time series is an indispensable part of any continuing county and regional comprehensive modeling and analysis.

Relation to ACS
REIS and the Census Bureau American Community Survey (ACS) 5-year data provide an annual, but different, characterization of the county level economy.  The two sources should be used in combination; one is not better than the other.  Some selected comparisons … REIS most current data are for 2012; the ACS 2012 5-year data (December 2013) are centric to 2010.  REIS data are developed from employer reported data supplemented with other wide-ranging measures for one year; ACS 5-year estimates are based on a sample survey over a 5 year period. REIS data provide a 20+ year annual time series; ACS 5-year data are available for four years on a comparable basis.  REIS data are available for counties, metros and states; ACS 5 year data go down to block group level and cover many other types of geography.  REIS is predominantly economic; ACS data are predominately demographic. REIS metro data use the 2013 vintage metros; all available ACS 5-year data are based on the 2009/Census 2010 vintage metros.

Relation to CEW
REIS data are based substantially on employment and payroll data from the Bureau of Labor Statistics Census of Employment and Wages (CEW).  Analyses should make use of both sources.  Some comparisons … REIS data are annual only; CEW data are quarterly and annual.  REIS most current data are for 2012; CEW data are available for 1st quarter 2013; CEW will be almost two years more recent when the REIS data are released in 2014.  REIS data go to the 2-digit NAICS level; CEW data go to the 6-digit NAICS level. County is the low level geography for REIS and CEW.

Scope of REIS Data
As a generalization, the REIS data are annual time series starting in 1970 and continue to 2012.  The series are developed for many types of subject matter by county, metro and state.  The series are organized as shown below.  Click a link to view a sample profile for Harris County, TX for 2011 and 2012.

• Personal income, per capita personal income, and population (CA1-3)
• Personal income summary (CA04)
• Personal income and earnings by industry (CA05, CA05N)
• Compensation of employees by industry (CA06, CA06N)
• Economic profiles (CA30)
• Gross flow of earnings (CA91)

Access and Interactive Analysis
Use the interactive table at http://proximityone.com/reis13.htm to view, rank compare annual estimates, and change, of per capita personal income for selected years by county, metro and state.  See related maps and about mapping tools using the REIS data in that section.  The more detailed data shown in above examples are available via Situation & Outlook integrated with multi-sourced data.