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The Bureau of Economic Analysis Should Lead Efforts To Improve GNP Estimates

GGD-83-1 Published: Dec 27, 1982. Publicly Released: Dec 27, 1982.
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Highlights

GAO analyzed the revisions made to the gross national product (GNP) estimates over the past 13 years, presented assessments of their reliability, examined management mechanisms to determine whether improvements are needed, and evaluated what entities should manage the changes.

Recommendations

Recommendations for Executive Action

Agency Affected Recommendation Status
Department of Commerce The Secretary of Commerce should determine the feasibility of developing guidelines of acceptability for the GNP estimates and its components.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Office of Management and Budget The Director, OMB, should determine the feasibility of developing guidelines of acceptability for the GNP estimates and its components.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Commerce The Secretary of Commerce should direct the Bureau of Economic Analysis (BEA) to conduct and publish periodic analyses of the GNP account estimates, including an analysis of the revisions similar to the one performed by GAO, to determine the need for improvements and to evaluate the success of improvements already made.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Commerce The Secretary of Commerce should direct BEA to take the lead in the prioritization and justification of any requests for funds to implement the recommendations of the Advisory Committee on GNP Data Improvement or other needed improvements.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Office of Management and Budget The Director, OMB, should direct BEA to take the lead in the prioritization and justification of any requests for funds to implement the recommendations of the Advisory Committee on GNP Data Improvement or other needed improvements.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Commerce The Secretary of Commerce should then direct BEA in determining the need for data improvements to GNP to: (1) give priority attention to determining the practicality of implementing the advisory committee's recommendations directed at those GNP components identified by GAO as having relatively large revisions or insufficient data to consider in preparing quarterly estimates; (2) weigh the relative importance of those improvements to the GNP database against the need to restore reductions in source data that might affect the reliability of GNP estimates; and (3) consider the practicality along with the results of future analyses of the GNP account to determine the need for other improvements.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Office of Management and Budget The Director, OMB, should use BEA prioritization and justification of GNP improvements in reviewing agencies' budget submissions which provide the data used in estimating GNP.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of Commerce If necessary, the Secretary of Commerce should have BEA budget for GNP improvements needed on a reimbursable basis that would primarily benefit GNP.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Office of Management and Budget If necessary, the Director, OMB, should have BEA budget for GNP improvements needed on a reimbursable basis that would primarily benefit GNP.
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
See All 9 Recommendations

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Topics

Auditing and Financial Management
Agency missionsBudget cutsData collectionEconomic analysisGross national productModificationsProjectionsProfitsInventoriesCensus