A blog post from BEA Director Vipin AroraMy guess is that the standards and methods we use at BEA to put our statistics together are a bit different than people might expect. Understandably so—most people think about statistics in terms of surveys, so concepts like response rates, sample size, margin of error, and standard deviation are usually top of mind.We do some of that. But most of our economic indicators are produced by bringing together data collected in assorted ways—surveys, scanner transactions, and more from a wide variety of data suppliers—within a rigorous economic accounting system. To quote former BEA Director Carol Carson, we “integrate and interpret a tremendous volume of data to draw a complete and consistent picture of the U.S. economy.’’
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