The Bureau of Economic Analysis is an independent, principal federal statistical agency that promotes a better understanding of the U.S. economy by providing timely, relevant, and accurate economic accounts data in an objective and cost-effective manner. BEA produces some of the world’s most closely watched statistics, including U.S. gross domestic product, better known as GDP. Established in 1972, the Bureau also engages in state and local numbers, foreign trade and investments statistics, and industry data.