National Income and Product Accounts (NIPAs)
The National Income and Product Accounts (NIPAs), produced by the Bureau of Economic Analysis, represent measures of economic activity in the United States, including production, income distribution, and personal savings. NIPAs also include data on employee compensation and wages. These estimations were first calculated in the early 1930s to help the government design economic policies to combat the Great Depression. Most of the NIPA series are published quarterly, with annual reviews of estimates from the three most recent years conducted in the summer.
Revisions have been made over the years to create a more comprehensive economic picture of the United States. For example, in 1976, consumption of fixed capital (CFC) estimates shifted to a current-cost basis. In 1991, U.S. production began to be measured in terms of GDP, rather than GNP. The international community adopted similar standards for comparison in 1993. The most recent change, in 2003, concerns improving measures of insurance services. NIPA is slowly being integrated with other federal account systems, such as that of the Bureau of Labor Statistics.
Further information on NIPAs may be obtained from
U.S. Department of Commerce
Bureau of Economic Analysis