DEFINITION of 'Bureau of Economic Analysis - BEA'

A division of the U.S. federal government's Department of Commerce that is responsible for the analysis and reporting of economic data used to confirm and predict economic trends and business cycles. Reports from the Bureau of Economic Analysis are the foundation upon which many economic policy decisions are made by government, and many investment decisions are made in the private sector by companies and individual investors.

BREAKING DOWN 'Bureau of Economic Analysis - BEA'

Among the most influential statistics analyzed and reported by the BEA are the gross domestic product data and the balance of trade for the United States. The BEA uses data collected at local, state, federal and international levels. Furthermore, the BEA collects data on foreign direct and indirect investment in the U.S. and on individual industries that operate around the globe.

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RELATED FAQS
  1. What does the Bureau of Labor Statistics do?

    By collecting, analyzing and reporting on important economic data, the Bureau of Labor Statistics has become a critical information ... Read Answer >>
  2. What data does the Bureau of Labor Statistics collect?

    Collected data includes unemployment numbers, inflation, prices, pay and benefits, time use of Americans, import/export numbers ... Read Answer >>
  3. What impact does economics have on government policy?

    Learn about the impact of economic conditions on government policy and understand how governments engineer economic conditions ... Read Answer >>
  4. How does the Federal Government track the business cycle?

    Learn more about the agencies used by the federal government to research business cycle changes and inform decisions about ... Read Answer >>
  5. How does the United States government measure economic growth?

    Find out how the Bureau of Labor Statistics and the Bureau of Economic Analysis measure economic growth in the United States ... Read Answer >>
  6. When do economists use GNP?

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