Update use of benchmark I-O table vs annual table

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    IMPLAN Forum
    Hello Pavel, We do not use the BEA annual updates to their IO tables, which indeed are at a higher level of aggregation. The 5-year benchmark data form the basis for our inter-industry transactions each year, but they are adjusted to be consistent with annually updated output-by-industry and value added-by-industry data. IO commodity byproduct and commodity use coefficients depend on certain levels of output and value added, so if intermediate input levels (they are a function of output and value added) change, the IO table needs to be updated. The annual output data come from a variety of sources including BEA industry gross output tables, NOAA fisheries data, the Energy Information Agency (EIA), the Census Bureau’s Annual Survey of Manufacturers (ASM), USDA Economic Research Services and National Agricultural Statistical Survey, among others. We use wage and employment data from a variety of sources to project these output estimates when the output data is lagged (for example, when we published 2014 IMPLAN data, the most recent ASM data was for 2013). Also, regional absorption coefficients change on a yearly basis due to annually updated trade flow estimates (this does not affect the national IO data, though). Regards, IMPLAN Staff
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