Introduction to the Economic Census

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Introduction to the Economic Census
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What Users Need to Know

• Economic Census
• Highlights and uses
• How the data are classified (SIC / NAICS)
• How the data are published (1997 / 2002)
• Working with the data
• Local data from current programs

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Census Terminology

• Economic
• data collected from businesses
• Demographic
• data collected from households

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Economic Data in the News
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Principal Economic Indicators

• Advance Monthly Retail Sales
• Manufacturing and Trade Inventories and Sales
• Monthly Wholesale Trade
• Manufactures Shipments, Inventories and Orders
• Advance M3
• Housing Starts
• Value of New Construction Put in Place
• Housing Completions
• New Homes Sold and for Sale
• US International Trade in Goods and Services
• Quarterly Financial Report (two releases)
• Housing Vacancies

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Surveys vs Census

• Economic Census
• Every 5 years (years ending in 2 7)
• Industry/product detail
• Detailed Geography

• Economic Surveys
• Annual, quarterly, monthly
• Limited detail
• Mostly national

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1992 Economic Census
Treated as 8 separate programs

• Mineral Industries
• Construction Industries
• Manufactures
• Wholesale Trade
• Retail Trade
• Transportation, Communications, Utilities
• Finance, Insurance, Real Estate
• Service Industries

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1997 Economic Census logo
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Sector contribution to GDP
Economic Census Coverage
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Service sectors growing Gross Domestic Product
1959-2001
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Economic Census Data Collection
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Increasing Census Coverage
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Greenspan quote
The Economic Census is indispensable to
understanding Americas economy
--Alan Greenspan, Chairman, Federal Reserve
Board of Governors
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Public Sector Uses

• Benchmarking
• Tracking economic change
• Attracting new businesses
• Assisting business development

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Donohue quote
Sound and timely economic data are the fuel
that powers business decision making
--Thomas J. Donohue, President, United States
Chamber of Commerce
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Private Sector Uses
Study your industry Market share Product
trends Strategic planning
Whats my share? How does my firm compare?
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Private Sector Uses
Study your industry Market share Product
trends Strategic planning Study business
markets Site locations Sales territories Foreca
sting sales
Where are my customers? suppliers? competitors?
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Private Sector Uses
Study your industry Market share Product
trends Strategic planning Study business
markets Site locations Sales territories Foreca
sting sales Evaluate investments Estimate
market size Data for loan applications
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Transition to next segment
Introduction to the Economic Census