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Survey of Current Business Table of Contents |
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The annual estimates of State personal income for 199597 were revised to incorporate the results of the recent annual revision of the national income and product accounts (NIPA's), as well as newly available State-level source data; in addition, the State estimates were revised back to 1982 to incorporate the NIPA redefinition of personal dividend income. The revisions to the State estimates generally reflected the downward revisions to the national estimates; among the States, the relative rates of change in personal income and the relative rankings of State per capita personal income changed little.
Real GDP increased 1.8 percent in the second quarter of 1998, according to the "final" estimate; the "preliminary" estimate issued last month had shown a 1.6-percent increase. The largest upward revision was to consumer spending. Corporate profits decreased $8.6 billion in the second quarter after increasing $8.4 billion in the first; profits of domestic nonfinancial corporations decreased after no change, and profits of domestic financial corporations and from the rest of the world turned down.
The U.S. current-account deficit increased $9.8 billion, to $56.5 billion, in the second quarter of 1998. A substantial increase in the deficit on goods and an increase in the deficit on investment income more than offset a small increase in the surplus on services and a small decrease in net unilateral transfers. In the capital account, capital outflows increased less than capital inflows. U.S. assets abroad increased $97.5 billion after increasing $45.6 billion, and foreign assets in the United States increased $163.4 billion after increasing $95.5 billion.
In 1997, U.S. cross-border sales (exports) of private services increased less than U.S. cross-border purchases (imports) of private services. In 1996,salesof services in the United States by U.S. affiliates of foreign companies increased less than sales of services abroad by foreign affiliates of U.S. companies. Nev-ertheless, the U.S. continued to register sizable surpluses on both cross-border and affiliate services transactions, reflecting the U.S. comparative advantage in the provision of services.
5 Annual NIPA Revision: Newly Available Tables (PDF)
16 Real Inventories, Sales, and InventorySales Ratios for Manufacturing
and Trade, 1994:IV1998:II (PDF)
117 U.S. Direct Investment Abroad: Detail for HistoricalCost Position
and Related Capital and Income Flows, 1997 (PDF)
National Data:
D--2 Selected NIPA Tables (PDF)
D--27 Other NIPA and NIPA-Related Tables (PDF)
D--36 Historical Tables (PDF)
D--41 Domestic Perspectives (PDF)
D--43 Charts (PDF)
International Data:
D--51 Transactions Tables (PDF)
D--57 Investment Tables (PDF)
D--62 International Perspectives (PDF)
D--64 Charts (PDF)
Regional Data:
D--65 Local Area Table (PDF)
Appendixes: (PDF)
D--67 Appendix A: Additional Information About BEA's NIPA Estimates
D--69 Appendix B: Suggested Reading
Inside back cover: BEA Information (PDF)
(A listing of recent BEA publications available from GPO)
Back cover: Schedule of Upcoming BEA News Releases (PDF)
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Updated: December 28, 1998