Measuring the Value of the U.S. Space Economy

According to the Commerce Department’s website,The Space Economy Satellite Account (SESA) is a new, collaborative effort to measure the relative importance of the space sector on the U.S. economy, with a special emphasis on the growing commercial space segment. This new account is part of the economic satellite accounts produced by the Bureau of Economic Analysis (BEA). A satellite account refers to statistics that complement BEA’s official U.S. economic statistics, such as GDP and personal income. These satellite accounts provide additional detail and allow for a more in-depth analysis of key sectors of the U.S. economy, such as health care, travel and tourism, and outdoor recreation.

Using input from industry experts and multiple government agencies, chiefly the U.S. Department of Commerce (DOC) Office of Space Commerce, the forthcoming SESA statistics will show the impact of the U.S. space economy on the overall U.S. economy. Specifically, the SESA statistics will provide an estimate of the space economy’s contribution to current-dollar gross domestic product (GDP) and will illustrate the contributions of individual industries to the U.S. space economy. In addition to GDP, the SESA will include gross output, compensation, and employment by industry statistics for the space economy.

U.S. Economy Increases at a 2.1% Pace in the Third Quarter

Real gross domestic product (GDP) increased 2.1 percent in the third quarter of 2019, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was unrevised from the “second” estimate released in November. In the second quarter, real GDP rose 2.0 percent.

GDP highlights

The third-quarter increase in real GDP reflected increases in consumer spending, government spending, housing investment, and exports, while business investment and inventory investment decreased. Imports, which are a subtraction in the calculation of GDP, increased.
The increase in consumer spending reflected increases in both goods (notably recreational goods and vehicles as well as food and beverages) and services (led by other services, notably personal care and legal services, as well as housing and utilities). The increase in government spending reflected increases in federal and in state and local government spending.

The decrease in business investment reflected decreases in structures (led by mining exploration, shafts, and wells) and in equipment (notably aircraft as well as computers and peripheral equipment).

Updates to GDP

While overall GDP growth was unrevised from the second estimate, upward revisions to consumer spending and business investment were offset by a downward revision to inventory investment.

Corporate profits from current production

Profits decreased 0.2 percent at a quarterly rate in the third quarter after increasing 3.8 percent in the second quarter. Corporate profits decreased 1.2 percent in the third quarter from one year ago.

Profits of domestic nonfinancial corporations decreased 0.5 percent after increasing 3.2 percent.
Profits of domestic financial corporations decreased 1.1 percent after increasing 0.6 percent.
Profits from the rest of the world increased 1.0 percent after increasing 7.7 percent.

Upcoming Event: Asian Financial Forum

Asian Financial Forum
January 13-14, 2020
Wan Chai, Hong Kong
Hong Kong Convention & Exhibition Centre

  • Participate in Deal Flow Matchmaking Session’s, one-on-one meetings.
  • Meet project owners, private equity firms, investors, high net-worth individuals, and senior professionals from intermediaries and professional service providers.
  • Contact AICC: usa@aiccus.org
  • Contact U.S. Commercial Service: Peter Sexton

BEA Releases First Official Release of Gross Domestic Product by County

BEA Graphic on Percent Change in Real GDP by County, 2018
(Bureau of Economic Analysis (BEA) )

Real gross domestic product (GDP) increased in 2,375 counties, decreased in 717, and was unchanged in 21 in 2018, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). The percentage change in real GDP ranged from 86.5 percent in Jackson County, WV, to -44.0 percent in Grant County, ND.

GDP is the value of goods and services produced within a county. The size of a county’s economy as measured by GDP varies considerably across the United States. In 2018, the total level of real GDP ranged from $18.4 million in Issaquena County, MS, to $710.9 billion in Los Angeles County, CA.

Highlights

Large Counties: 141 counties with populations greater than 500,000 in 2018

  • Real GDP increased in 136 and decreased in 5.
  • GDP ranged from $11.2 billion in Pasco County, FL, to $710.9 billion dollars in Los Angeles County, CA.
  • Santa Clara County, CA, (10.2 percent) was the fastest growing large county. The information industry was the leading contributor to the county’s growth.
  • Kern County, CA, (-0.7 percent) had the largest percentage decrease in GDP. The mining, quarrying, and oil and gas extraction industry (primarily oil and gas extraction) was the leading contributor to the decrease

Medium Counties: 464 counties with populations between 100,000 and 500,000 in 2018

  • Real GDP increased in 433, decreased in 30, and was unchanged in 1.
  • GDP ranged from $2.0 billion in Saline County, AR, to $52.6 billion dollars in Morris County, NJ.
  • Canadian County, OK, (21.0 percent) was the fastest growing medium county. The mining, quarrying, and oil and gas extraction industry (primarily oil and gas extraction and support activities) was the leading contributor to the county’s growth.
  • San Juan County, NM, (-6.1 percent) had the largest percentage decrease in GDP. The mining, quarrying, and oil and gas extraction industry (primarily non-oil and gas mineral extraction) was the leading contributor to the decrease.

Small Counties: 2,508 counties with populations less than 100,000 in 2018

  • Real GDP increased in 1,806, decreased in 682, and was unchanged in 20.
  • GDP ranged from $18.4 million in Issaquena County, MS, to $13.3 billion dollars in Karnes County, TX.
  • Jackson County, WV, (86.5 percent) was the fastest growing small county. The construction industry was the leading contributor to the county’s growth.
  • Grant County, ND, (-44.0 percent) had the largest percentage decrease in GDP. The agriculture, forestry, fishing, and hunting industry was the leading contributor to the decrease.

2019 AFF Asian Film Festival Golden Diamond Awards Ceremony held in Los Angeles

On December 12, the AFF Asian Film Festival grandly held the Golden Diamond Awards at the Millennium Bitmore Hotel in Los Angeles. Nearly a thousand Hollywood and guests from all walks of life, filmmakers from around the world participated in the series of events held on the day. shine. Representatives from the film industry, judges of the Golden Diamond Awards, and founding members of the finalists from more than 50 countries around the world witnessed the first AFF Asian Film Festival award ceremony with guests from all walks of life in the United States.

The AFF Asian Film Festival awards ceremony was unveiled at the Biltmore Hotel with a long history. The grand event scene and magnificent momentum regretted the Hollywood movie capital. The stars gathered and established the new era image and professional charm of the Asian Film Festival. Shocked and eye-catching, received unanimous praise and attention from the mainstream film industry.

Jason Quin, Executive Chairman of the American International Chamber of Commerce and Executive Chairman of the AFF Asian Film Festival, said that the AFF Asian Film Festival is based in Los Angeles and leverages Hollywood film talent, technology, management and financial resources to target the global and Asian film markets. Cultural exchanges between the East and the West films have contributed resources and strength to the development of world film art and industry.

Mr. Quin said: Film art is one of the cultural industries with a unique world language. The fast-growing Chinese movies have brought momentum and hope to world movies. Hollywood filmmakers are full of enthusiasm and expectations for Chinese movies.

Attending the red carpet and celebration reception on the day of the awards were Hollywood internationally renowned directors, producers, stars and celebrities, Oscar winner Richard Anderson, and Golden Horse winner Trun Ping Yang.

The 2019 Asian Film Festival awards ceremony will kick off in Los Angeles on Dec 12th

2019 Asian Film Festival
Millennium Biltmore Hotel Los Angeles
506 S. Grand Ave.
Los Angeles, CA 90071
Event Date: December 12th, 2019

The 2019 Asian Film Festival Golden Diamond Awards Ceremony will kick off in Los Angeles on Dec 12th,2019

The 2019 Asian Film Festival Golden Diamond awards Ceremony, co-sponsored by the American International Chamber of Commerce and the Asian Film Festival Committee will be held at the Millennium Biltmore Los Angeles Hotel on December 12.

Nearly 1,000 nominees, filmmakers, business leader and winning from around the world will attend the event.

Event agenda:

9:00-19:00 PM, Asian Film Festival Art Exhibition
Open to the public, Free event, RSVP

2:30-3:30 PM, Asian Film Cooperation Forum
free for all nominees and public, RSVP

3:30-5:00 PM, Red Carpet
The VIP guests, nominees and winners only.

5:00-8:00 PM, Asian Film Festival Golden diamond Awards Ceremony
The Invited VIP guests and winners are admitted free. All other guests must pay for admitted entry ticket.
$50 Student, Admission pass $100, VIP $150.

8:00-9:30 PM, After Party. Hollywood Night Celebration Reception
The VIP guests and winners are admitted free. All other guests must buy tickets.
Admission VIP pass $150. USD
Student pass $70.USD

End at 9:30PM

Ticket available booking on official website