Fiscal Intelligence

Comprehensive NIPA revisions differ from annual NIPA revisions primarily because of the scope of the changes. Comprehensive revisions typically incorporate three major types of improvements: (1) changes in definitions and classifications that update the accounts to more accurately portray the evolving U.S. economy and to provide for consistent comparisons with data for the economies of other nations, (2) statistical changes that update the accounts to reflect the introduction of new and improved methodologies and the incorporation of newly available and revised source data, and (3) changes in presentations that update the NIPA tables to reflect the changes in definitions and the statistical changes and to make the tables more informative. Comprehensive revisions are usually conducted at 5-year intervals that correspond with the integration of updated statistics from BEA’s quinquennial benchmark input-output accounts.

<div style=”margin-bottom:5px”> <strong> <a href=”http://www.slideshare.net/LuisTaverasMBAMS/preview-of-the-2013-comprehensive-revision-of-the-national-income-and-product-accounts&#8221; title=”Preview of the 2013 Comprehensive Revision of the National Income and Product Accounts” target=”_blank”>Preview of the 2013 Comprehensive Revision of the National Income and Product Accounts</a> </strong> from <strong><a href=”http://www.slideshare.net/LuisTaverasMBAMS&#8221; target=”_blank”>Luis Taveras MBA, MS</a></strong> </div>