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Every month and every quarter, 132 times a year, the US Census Bureau publishes economic indicators that report on the performance of the American economy. These reports cover nearly every sector – construction, international trade, manufacturing, retail trade, services, and wholesale trade.
Economic indicators are key inputs to the Gross Domestic Product estimates, prepared by our sister agency, the Bureau of Economic Analysis. These statistics also are important to monetary and budgetary decision makers, economists, business analysts, and economic researchers in assessing the health of the economy. And they are vital to corporate boardrooms looking for guidance on investment decisions or whether to expand.
The Census Bureau recently launched a new tool, the Economic Indicator Database Search. Right now, four economic indicators are included in the new tool: three monthly reports (international trade, wholesale trade, and manufacturers’ shipments, inventories, and orders), and the quarterly services survey. By the end of next year all twelve indicators will be included. We developed the new tool to provide a user-friendly web application — a one-stop-shop for data from all of the Census Bureau’s economic indicators. Easy enough for anyone to use.
The new tool incorporates best practices in many dimensions: it employs a web delivery tool similar to that used by other agencies. It uses state-of-the art open source software. It’s 508 compliant (accessible), and it employs standard file formats for data and metadata so it will be easy to adapt to other applications. An online brochure shows how to use the new tool, including sample tables.
The new tool will have many uses and users. Outside users (business analysts, the press, economic researchers) can use it for quicker access to the data they need for modeling, trend analyses, and other research. As a bonus, the Census Bureau’s own industry analysts are finding the tool makes it easier for them do specific kinds of analysis before releasing the data. That, in turn, means the new tool is improving the quality of the data we publish.
We invite you to try out the new tool yourself. And stay tuned for the inclusion of additional economic indicators in the near future.
Learn more about our economic programs.
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