ELI5: Explain Like I'm 5

Bureau of Economic Analysis

The Bureau of Economic Analysis (BEA) is a part of the United States government that looks at how money works in the different parts of our country. They collect data from all sorts of sources, like businesses, government agencies and people, to help them understand how money is being used.

They look at how much money different people are earning, how much they are spending, and how it affects different parts of the economy. For example, they might look at how much people are spending on groceries in one state versus another, and how much money businesses are making in different industries. They also look at how our economy is doing overall, and what kinds of trends are happening in the markets.

The BEA helps the government make decisions about economic policies, like taxes and minimum wage laws. It also helps businesses figure out where their customers are, so they can make decisions about where to open stores, or where to advertise. The BEA also helps us understand how the global economy works, and what kind of jobs and opportunities are available in different parts of the world.