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Bureau of Economic Analysis Awards Ceremony: Dr. Abe Dunn Receives First-Ever Landefeld Innovation Award

Washington, D.C. - Deputy Secretary Bruce Andrews, Under Secretary Mark Doms, BEA Director Brian Moyer, and BEA Chief Economist David Johnson present Dr. Abe Dunn, Senior Economist in the Bureau's Office of the Chief Economist, with the first J. Steven Landefeld Award for Innovation for his ground-breaking work on measuring health care expenditures.

Statement from U.S. Commerce Secretary Penny Pritzker on the International Trade in October 2014

WASHINGTON – U.S. Secretary of Commerce Penny Pritzker issued the following statement today on the release of the October 2014 U.S. International Trade in Goods and Services data. U.S. exports of goods and services increased to $197.5 billion in October from $195.2 billion in September. Record monthly levels were reached in exports of non-petroleum goods, including a record in capital goods, as well as in charges for the use of intellectual property. The goods and services deficit decreased by $0.2 billion to $43.4 billion in October.

Businesses Commit to Alleviate Their Suppliers’ Capital Costs

A recently released Department of Commerce report, “The Economic Benefits of Reducing Supplier Working Capital Costs,” highlighted how much the viability of our nation’s supply chain depends on large firms paying on time. Our small manufacturing firms—which account for more than 1/3 of manufacturing shipments and close to half of employment—face elevated capital costs, relative to large firms, because of lack of access to loans and higher interest rates. Large firms exacerbated these constraints through the Great Recession when they delayed payment for the good they ordered.

New Residential Construction

Building permits in October 2014 were at a seasonally adjusted annual rate (SAAR) of 1,080,000, up 4.8 percent from the revised September rate and up 1.2 percent from October 2013.

Housing starts in October 2014 were at a SAAR of 1,009,000, down 2.8 percent from September and up 7.8 percent from October 2013.

Statement from U.S. Commerce Secretary Penny Pritzker on the Advance Estimate of GDP in the third quarter of 2014

WASHINGTON — The Commerce Department's Bureau of Economic Analysis today reported that real gross domestic product (GDP) increased at an annual rate of 3.5 percent in the third quarter of 2014, according to today’s first, or “advance” estimate, exceeding expectations of private-sector forecasters.

New Residential Construction

Privately-owned housing starts in September 2014 were at a seasonally adjusted annual rate of 1,017,000. This is 6.3 percent (+/- 9.3%)* above the revised August 2014 estimate of 957,000.

On Wednesday - STRATA + Hadoop World: Government Statistics in the Era of Big Data

For Immediate Release Contact: Austin Durrer (c) 202-957-6075

Under Secretary Mark Doms Featured at NYC STRATA+ Hadoop World Conference

Chief Economist Sue Helper Celebrates Manufacturing Day at The Rodon Group

Hatfield, PA – Department of Commerce Chief Economist, Dr. Sue Helper and Acting Manufacturing Extension Partnership Director Phillip Singerman visited the Rodon Group in Hatfield, Pennsylvania, as part of the nationwide Manufacturing Day event on Friday, October 3rd. The Rodon Group is a plastic injection molding company that makes billions of parts each year.

What is Made In America?

Accurately determining how much of our economy’s total production is American-made can be a daunting task. However, data from the Commerce Department’s U.S. Census Bureau and the Bureau of Economic Analysis (BEA) can help shed light on the dollar value of what America produces, and what percentage of the dollar value of an industry’s output that is considered domestic. Gross output, value added, domestically-sourced inputs, and domestic content are all concepts that can be used to measure U.S. production and to estimate how much of that production is made in the United States.

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