Which U.S. government agency calculates the Gross Domestic Product?

The U.S. government agency that calculates and publishes Gross Domestic Product is the Bureau of Economic Analysis.

The BEA is part of the U.S. Department of Commerce and produces the nation’s official economic accounts. Its GDP program estimates the market value of final goods and services produced in the United States, with headline figures released quarterly and annually. The agency also publishes GDP by state and local area, GDP by industry, personal income, corporate profits, and related national-account measures.

GDP is compiled through the National Income and Product Accounts. Economists can measure the economy from production, income, or expenditure perspectives; in principle, these approaches should tell the same broad story. The expenditure approach, for example, adds consumption, investment, government purchases, and net exports.

A common mix-up is the Federal Reserve, which conducts monetary policy and analyzes economic data, rather than serving as the primary GDP compiler. The Census Bureau supplies important surveys and population statistics, while the Bureau of Labor Statistics focuses on employment, prices, wages, and productivity. Those agencies contribute data to the statistical system, but the BEA is responsible for the official GDP estimates.