Resources for Key Economic Indicators
Released: 2018-11-09T00:00:00

Statistics and Data

National Economic Accounts

The Bureau of Economic Analysis (BEA), which is an agency within the U.S. Department of Commerce, tracks major economic indicators, most notably gross domestic product (GDP). Other BEA indicators include items such as personal income and outlays, and corporate profits. These indicators together comprise what are known as BEA's " National Economic Accounts ," or "National Income and Product Accounts" (NIPA).

Gross Domestic Product

Gross Domestic Product is a comprehensive measure of U.S. economic output. It measures the value of the goods and services produced by the U.S. economy in a given time period and includes

total spending by consumers total investment by businesses total spending by government net exports (exports minus imports)

Current GDP News Release

Historical and Detailed NIPA Interactive Tables

A Primer on GDP and the National Income and Product Accounts

Personal Income and Outlays

Personal income is a measure of income received by individuals from wages, salaries, dividends, interest, and other forms. Personal outlays consist of personal consumption of goods and services and also include transfer payments. The components include

disposable income (total personal income minus personal current taxes) transfer receipts (payments by governments and businesses to individuals and nonprofit institutions serving individuals) consumption expenditures (goods and services purchased by persons) savings

Current Personal Income and Outlays News Release

Historical and Detailed NIPA Interactive Tables

Household Income

The Census Bureau reports on household income data that are collected from several major surveys and programs. Guidance on the differences between these sources of income data can be found on the bureau's website. Two of these data sources are described below.

The Census Bureau's annual American Community Survey (ACS) collects income data from a sample of the U.S. population, including median household data, data on income distribution, and the poverty rate. Data can cover one or five years. One-year estimates are more current but use a smaller sample size. Five-year estimates are less current but use larger sample sizes and are considered more reliable. The following are examples of commonly requested ACS data:

U.S. Median Income in the Past 12 Months from the 2017 ACS 1-Year EstimatesU.S. Income Distribution for Households and Families in the Past 12 Months from the 2017 ACS 1-Year Estimates

Another program, the Current Population Survey (CPS), is a survey conducted by the Census for Bureau of Labor Statistics (BLS) and provides estimates on income, poverty, and health insurance coverage.

Inflation

Inflation is the overall increase in the prices of goods and services in the economy. A frequently cited measure of inflation is the Consumer Price Index (CPI), which is a BLS program that tracks changes in the prices paid by urban consumers for a representative basket of goods and services. The information provided by BLS goes beyond just CPI and includes producer prices, import/export prices, and employment cost trends.

Overview of BLS Statistics on Inflation and Prices

Consumer Price Index

The Consumer Price Index program produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.

Current CPI News ReleaseCurrent CPI Tables (from the current news release) Historical CPI for All Urban Consumers (CPI-U)CPI Databases

Producer Price Indexes

The Producer Price Indexes (PPIs) measure the average change over time in the selling prices received by domestic producers for their output.

Current PPI News ReleaseCurrent PPI Tables (from the current news release) Historical and Detailed Tables

Import/Export Prices Indexes

The International Price Program (IPP) produces Import/Export Price Indexes (MXP), which contain data on changes in the prices of nonmilitary goods and services traded between the United States and the rest of the world.

Current MXP ReleaseCurrent MXP Tables (from the current news release) Historical and Detailed Tables

Employment Cost Trends

Employment Cost Trends (ECT) produce quarterly indexes measuring change over time in labor costs and quarterly data measuring level of average costs per hour worked.

Current ECT News ReleaseCurrent ECT Tables (from the current news release) Historical and Detailed Tables

Labor Force Characteristics

Few economic indicators are as closely watched as measures of employment. In its monthly news release, BLS provides national totals of the number of employed and unemployed. This release includes the results from both a household survey and a business establishment survey. These data are presented as both seasonally and not seasonally adjusted.

Current Monthly News Release—Employment SituationEmployment Statistics Tables (from the current news release) Historical Labor Force Data (household survey) Historical Establishment-Based Data

BLS also provides tables showing different characteristics of employed and unemployed persons, and persons not in the labor force. These statistics are available on a monthly, quarterly, or annual basis. Historical data are also available.

Labor Force Statistics Tables—Survey of HouseholdsLabor Force Statistics Tables—Survey of Business Establishments

Labor Productivity and Costs

Labor productivity relates output to the labor hours used in the production of that output. Two BLS programs produce labor productivity and costs (LPC) measures for sectors of the U.S. economy.

Current News Release—Productivity and CostsLPC Tables

Value of the Dollar

The value of a U.S. dollar relative to foreign currencies is determined in foreign exchange markets, and its value affects prices and economic activity in the United States.

The Federal Reserve provides a brief overview on how the foreign exchange value of the dollar relates to Federal Reserve policy.

Foreign Exchange Values

Measures the exchange rate of the U.S. dollar versus various currencies and indices.

Current ReleaseHistorical Releases

Interest Rates

A collection of interest rates provided by the Federal Reserve, current to today's market.

Daily RatesWeekly, Monthly and Historical Rates (from the Data Download Program)

Related Resources

General Sources and Historical Information

Federal Reserve

Summary of Commentary on Current Economic Conditions by Federal Reserve District (The Beige Book)Economic Data ReleasesFederal Reserve Bank of St. Louis "FRED" Economic Data

Bureau of Economic Analysis

U.S. Economy at a GlanceCurrent Releases

Bureau of Labor Statistics

U.S. Economy at a GlanceDatabases, Tables, and Calculators by Subject

Census Bureau

Current Economic Indicator Releases

Council of Economic Advisers (via the Federal Reserve Bank of St. Louis)

Economic Indicators Since 1948

Economic Indicator Release Dates

Bureau of Economic Analysis

Data Release Dates

Bureau of Labor Statistics

Schedules of News Releases

Census Bureau

Economic Indicator Release Schedule

Federal Reserve Bank of New York

Economic Indicators Calendar

Federal Finance

Office of Management and Budget

Federal Receipts and Outlays (yearly)

U.S. Treasury

Federal Debt (monthly)

Money, Credit, and Markets

Federal Reserve

Money Stock Measures (weekly) Consumer Credit (current release) Interest rates (daily)

Production and Business Activity

Census Bureau

New Residential Construction (monthly) Advance Monthly Retail Trade Report (monthly) Wholesale Trade: Sales and Inventories (monthly)

FAQs

What Is an Economic Indicator?

A statistic that, combined with others, shows the relative health of the economy.

Which Indicator Is Best for a Big Picture View of the Performance of the Overall Economy?

Real gross domestic product (GDP). Other important indicators include reports on personal income and employment.

When Are Data Released, and By Whom?

Several agencies release data, including the Bureau of Economic Analysis, the Bureau of Labor Statistics, the Bureau of the Census, and the Office of Management and Budget. The frequencies with which data are released vary by agency and type of economic indicator. See " Economic Indicator Release Dates " (in " Related Resources ") for details.

A change in the trend of the economy (from expansion to recession, for example) is often announced only after several months of data are released.

What Is a Recession?

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades. Recessions are dated by the National Bureau of Economic Research (NBER), a private research institute.

A popular definition of a recession is two consecutive quarters of negative GDP growth, but recessions are not officially defined by the NBER using this definition.

Additional Information from NBER:

U.S. Business Cycle Expansions and Contraction (Recessions)Most recent recession (December 2007-June 2009)

Links to Glossaries

Federal Reserve Bank of St. Louis—GlossaryFederal Reserve Bank of San Francisco—Glossary of Economic TermsThe Economist—Economic Terms A-ZOxford Reference—A Dictionary of Economics

Related CRS Products

CRS In Focus IF10408, Introduction to U.S. Economy: GDP and Economic Growth , by Jeffrey M. Stupak and Mark P. Keightley CRS In Focus IF10477, Introduction to U.S. Economy: Inflation , by Jeffrey M. Stupak CRS In Focus IF10557, Introduction to U.S. Economy: Productivity , by Jeffrey M. Stupak CRS In Focus IF10411, Introduction to U.S. Economy: The Business Cycle and Growth , by Jeffrey M. Stupak, CRS In Focus IF10443, Introduction to U.S. Economy: Unemployment , by Jeffrey M. Stupak CRS In Focus IF10501, Introduction to U.S. Economy: Personal Income , by Jeffrey M. Stupak CRS In Focus IF10963, Introduction to U.S. Economy: Personal Saving , by Jeffrey M. Stupak CRS In Focus IF10569, U.S. Economy in a Global Context , by Jane G. Gravelle CRS Report R44543, Slow Growth in the Current U.S. Economic Expansion , by Mark P. Keightley, Marc Labonte, and Jeffrey M. Stupak CRS Report R44705, The U.S. Income Distribution: Trends and Issues , by Sarah A. Donovan, Marc Labonte, and Joseph Dalaker

CRS Report RL30344, Inflation: Causes, Costs, and Current Status , by Marc Labonte

CRS Report RL30354, Monetary Policy and the Federal Reserve: Current Policy and Conditions , by Marc Labonte