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Data Delay: U.S. - BEA GDP, personal income, trade, IIP [Jan 2019] [UPDATED]
Thursday, 07 Feb 2019 10:27 ET
By Megan Hilaman
Summary
January 2019 -- Seven BEA reports that were originally scheduled for 27 December through 8 February (state GDP, industry GDP, advance national GDP for 2018Q4, personal income and outlays, international trade for November and December, IIP) have been delayed by the partial government shutdown. New dates were set on 6 February. [Updated 7 February 2019.]
Detail
ReleaseReference(s)OriginalPostponedTime
Advance estimate of GDP 2018Q4 30 Jan canceled  
Second estimate of GDP 2018Q4 28 Feb canceled  
"Initial gross domestic product" 2018Q4
2018
  28 Feb 8:30
Third estimate of GDP 2018Q4 28 Mar unchanged  
Personal income and outlays Dec 2018 31 Jan 1 Mar 8:30
Personal income Jan 2019 1 Mar 1 Mar 8:30
Personal outlays Jan 2019 1 Mar TBD  
Personal savings rate Jan 2019 1 Mar TBD  
International Trade in Goods and Services (FT900) Dec 2018 5 Feb 6 Mar 8:30

On 28 January, the source wrote (citation):

Bureau of Economic Analysis reports scheduled for this week and next will be delayed because of the effects of the partial government shutdown.

Those reports are:

    • Gross Domestic Product by State for the third quarter of 2018, originally scheduled for release on Tuesday, Jan. 29. 
    • The “advance,” or initial, estimates of Gross Domestic Product for the fourth quarter of 2018 and for all of 2018, originally scheduled for release Wednesday, Jan. 30. 
    • Personal Income and Outlays for December 2018, originally scheduled for Thursday, Jan. 31. 
    • U.S. International Trade in Goods and Services for December 2018, originally scheduled for Tuesday, Feb. 5.

BEA has not yet set new release dates for those economic reports.

In addition, new release dates will be set for three other economic reports that were originally set for release while parts of the government were shut down: U.S. International Investment Position for the third quarter of 2018, scheduled for Dec. 27; U.S. International Trade in Goods and Services for November 2018, scheduled for Jan. 8; and GDP by Industry for the third quarter of 2018, scheduled for Jan. 24.

BEA reopened on Monday and is consulting with the U.S. Census Bureau and other data suppliers to determine the availability of the thousands of data series used to produce our economic indicators. We will then work with the Office of Management and Budget to publish a revised schedule of BEA’s economic releases.

On 6 February, the source wrote (citation):

Bureau of Economic Analysis data on U.S. gross domestic product, personal income and outlays, and international trade in goods and services that were delayed by the recent lapse in federal funding will be released in late February and early March.

A report called Initial Gross Domestic Product for the 4th Quarter and Annual 2018 will be released on Feb. 28 at 8:30 a.m. This “initial” report will take the place of two previously scheduled estimates of 4th quarter GDP – the advance estimate originally set for Jan. 30 and the second estimate that would normally be released Feb. 28.

The combined Feb. 28 report will contain one set of GDP numbers based on the data available from BEA’s data suppliers, including the U.S. Census Bureau, which also was affected by the funding lapse. This will include source data that would have gone into producing BEA’s advance estimate of 4th quarter and annual GDP for 2018, and some – but not all – of the source data that typically feed the second estimate.

BEA typically makes three estimates of GDP for a given quarter, with each estimate incorporating more complete source data as the data become available. This cycle will be compressed to two estimates for the 4th quarter and annual estimates of 2018. The other 4th quarter estimate remains scheduled for March 28.

In another important schedule update, BEA will release on March 1 at 8:30 a.m. a single report that will include personal income and outlays for December 2018, as well as personal income for January 2019. Estimates for personal outlays and the personal saving rate for January will not be available at that time. This news release will be called Personal Income and Outlays for December 2018 and Personal Income for January 2019.

The report on personal income and outlays for December was originally scheduled for release on Jan. 31, and the one for January was scheduled for March 1.

BEA will release U.S. International Trade in Goods and Services for December on March 6 at 8:30 a.m. That report was originally scheduled for Feb. 5.

References

See also

Other
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SourceU.S. Bureau of Economic Analysis (BEA)
FrequencyQuarterly
GeographyUnited States
Upcoming
Release DateReference date
27 Jun 20241Q 2024
26 Sep 20242Q 2024
19 Dec 20243Q 2024
Related ReleaseGross Domestic Product by State
SourceU.S. Bureau of Economic Analysis (BEA)
FrequencyQuarterly
GeographyUnited States
Catalog
Upcoming
Release DateReference date
28 Jun 20241Q 2024
27 Sep 20242Q 2024
20 Dec 20243Q 2024
Related ReleaseInternational Investment Position of the United States
SourceU.S. Bureau of Economic Analysis (BEA)
FrequencyQuarterly
GeographyUnited States
Catalog
Upcoming
Release DateReference date
26 Jun 20241Q 2024
25 Sep 20242Q 2024
27 Dec 20243Q 2024
Related ReleaseInternational Trade (FT900)
SourceU.S. Census Bureau (BOC)
FrequencyMonthly
GeographyUnited States
Catalog
Upcoming
Release DateReference date
02 May 2024Mar 2024
Related ReleaseNational Income and Product Accounts
SourceU.S. Bureau of Economic Analysis (BEA)
FrequencyQuarterly
GeographyUnited States
Upcoming
Release DateReference date
25 Apr 20241Q 2024
30 May 20241Q 2024
27 Jun 20241Q 2024
Related ReleaseNational Income and Product Accounts - Underlying Detail Tables - Monthly
SourceU.S. Bureau of Economic Analysis (BEA)
FrequencyMonthly
GeographyUnited States
Catalog
Upcoming
Release DateReference date
26 Apr 2024Mar 2024
31 May 2024Apr 2024
28 Jun 2024May 2024
26 Jul 2024Jun 2024
30 Aug 2024Jul 2024
27 Sep 2024Aug 2024
31 Oct 2024Sep 2024
27 Nov 2024Oct 2024
20 Dec 2024Nov 2024
Related ReleasePersonal Income and Outlays
SourceU.S. Bureau of Economic Analysis (BEA)
FrequencyMonthly
GeographyUnited States
Catalog
Upcoming
Release DateReference date
26 Apr 2024Mar 2024
31 May 2024Apr 2024
28 Jun 2024May 2024
26 Jul 2024Jun 2024
30 Aug 2024Jul 2024
27 Sep 2024Aug 2024
31 Oct 2024Sep 2024
27 Nov 2024Oct 2024
20 Dec 2024Nov 2024