New York State Data Center

GROSS STATE PRODUCT

The estimated annual gross state product (GSP) is an estimate of the value of all economic activity taking place in New York State over the course of a year. The concept of gross state product is directly comparable to gross domestic product (GDP) for the nation.

This file provides estimates of GSP and its components on current dollar and chain-weighted 200 dollar bases. Data are available for current dollar GSP starting with 1963. Real GSP using 2000 chain-weighted dollars is available starting with 1990.

METHODOLOGY:
The U.S. Bureau of Economic Analysis estimates GSP by attempting to account for all of the economic activity by component occurring in the State. BEA primarily does this using administrative records and other data series as proxies for the actual transactions. Some of the specific data BEA uses in producing GSP are state data on sales and sales taxes, payroll data, government sector employment data, BEA’s personal income estimates, and economic census data. (Further details about the methodology used by BEA can be found in the June 1997 Survey of Current Business article on the latest revisions of GSP.)

REVISIONS:
When a new year’s GSP estimates are released, revisions to the earlier years are also released. There are also occasional revisions to the methodology.

SOURCE: U.S. Bureau of Economic Analysis

RELEASE DATE: June 2006

NEXT EXPECTED RELEASE: October 2006

CONTACT FOR FURTHER INFORMATION:
U.S. Bureau of Economic Analysis, Regional Economic Analysis Division – (202) 606-5340
New York State Data Center - (518) 292-5300