Comprehensive revision of the NIPA's

BEA released the initial results of its 11th comprehensive, or "benchmark," revision of the national income and product accounts on October 28, 1999. On March 30, 2000, the benchmark revision neared its completion with the release of:

Revised NIPA estimates for 1929-58
Estimates of fixed assets and consumer durable goods for 1972-97 (revised) and 1998 (new)
Revised NIPA estimates beginning with 1959 incorporating several corrections

News release

The GDP news release of March 30, 2000 includes:
- Gross Domestic Product, Fourth Quarter 1999 "final" estimate
- Revised estimates, 1929-99
- Corporate Profits: Fourth Quarter 1999
- Fixed Assets and Consumer Durable Goods: 1972-98

Descriptive materials

Three papers presented at the May 5, 2000 meeting of the BEA Advisory Committee discuss current issues in national economic accounting and methodologies introduced in the comprehensive revision:
- Measuring the New Economy (PDF - KB)
  by J. Steven Landefeld and Barbara M. Fraumeni
- Recognition of Business and Government Expenditures for Software as Investment: Methodology and Quantitative Impacts, 1959-98 (PDF - KB)
  by Robert Parker and Bruce Grimm
- Measurement of Banking Services in the U.S. National Income and Product Accounts: Recent Changes and Outstanding Issues (PDF - KB)
  by Brent R. Moulton
Improved Estimates of the NIPA's for 1929-99 | SCB, April 2000
Fixed Assets and Consumer Durable Goods | SCB, April 2000
Improved Estimates of the National Income and Product Accounts for 1959–98: Results of the Comprehensive Revision | SCB, December 1999 (PDF - 393 KB)
A Preview of the 1999 Comprehensive Revision of the National Income and Product Accounts
- Statistical Changes | SCB, October 1999 (PDF - 259 KB)
- New and Redesigned Tables | SCB, September 1999 (PDF - 280 KB)
- Definitional and Classificational Changes | SCB, April 1999 (PDF - 340 KB)
Comprehensive revision of the NIPA's Summary of Improvements | October 1999