July 2004 - Volume 84 - Number 7
Business Situation: Final Estimates for the First Quarter of 2004
Real GDP increased 3.9 percent (at an annual rate) in the first quarter
of 2004 after increasing 4.1 percent in the fourth quarter of 2003; most
of the major components of GDP contributed to the first-quarter increase.
The price index for gross domestic purchases increased 3.5 percent after
increasing 1.3 percent; the pickup partly reflected an upturn in energy
prices. Corporate profits increased $20.9 billion (1.7 percent at a quarterly
rate) after increasing $81.4 billion. |
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XLS
Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing
and Trade, First Quarter 2004
The quarterly and monthly estimates have been updated. The estimates
of inventories for manufacturing by stage of fabrication have also been
updated. | PDF
Comprehensive NIPA Revision: Newly Available Tables
BEA continues to release the results of the 12th comprehensive revision
of the NIPAs. | PDF
| The tables in this article may
be viewed and downloaded interactively.
U.S. Multinational Companies: Operations in 2002
The worldwide value added in production by U.S. multinational companies
decreased 0.4 percent in 2002, reflecting a decrease in production by
U.S. parents that was offset by an increase in production by their majority-owned
foreign affiliates. By industry, the decrease was accounted for by substantial
decreases in production by U.S. parents in telecommunications services
and in communication equipment manufacturing. By area, production decreased
in the United States, Canada, Latin America and Other Western Hemisphere,
and the Middle East, and it increased in Europe, Asia and Pacific, and
Africa. | PDF
The International Investment Position of the United States at Yearend
2003
The net international investment position at current cost was -$2,430.7
billion; in 2002, it was -$2,233.0 billion. The -$197.7 billion increase
mainly resulted from large net foreign purchases of U.S. securities that
increased the value of foreign-owned assets; the increase in the value
of these assets was partly offset by a substantial increase in the value
of U.S.-owned assets abroad, especially U.S.-held stocks, as a result
of the appreciation of most foreign currencies against the U.S. dollar.
| PDF
Direct Investment Positions for 2003: Country and Industry Detail
The historical-cost position of U.S. direct investment abroad (USDIA)
increased significantly more than the position of foreign direct investment
in the United States (FDIUS). The USDIA position increased 12 percent,
slightly less than the 13-percent average annual growth in 1994-2002;
the 12-percent growth mainly resulted from an increase in reinvested earnings
and currency-translation adjustments. The FDIUS position increased 3 percent,
substantially less than the 14-percent average annual growth in 1994-2002,
reflecting the continued weakness in merger and acquisition activity.
The 3-percent increase mainly resulted from equity capital inflows. |
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Annual Revision of the U.S. International Accounts, 1989-2003
Each year, estimates in the U.S. international transactions accounts
and in the U.S. international investment position accounts are revised
to incorporate statistical and methodological changes and updated, regularly
available source data. This year, major changes include a new methodology
to prepare the estimates of U.S. Government income payments, the incorporation
of the U.S. Treasury Department's new annual surveys of securities liabilities
for June 2003 and June 2004, and another definitional change in the measurement
of insurance services. | PDF
How BEA Aligns and Augments Source Data From the U.S. Treasury Department
for Inclusion in the International Transactions Accounts
The estimates of financial-account flows in the international transactions
accounts are based on data from the Treasury Department that are adjusted.
The adjustments to align and augment the data are presented in this report.
| PDF
U.S. International Transactions, First Quarter 2004
The U.S. current-account deficit increased $17.9 billion, to $144.9 billion.
The increase was mostly accounted for by an increase in the deficit on
trade in goods, but a decrease in the surplus on income and an increase
in net outflows for unilateral current transfers also contributed. In
the financial account, net recorded financial inflows decreased $10.4
billion, to $158.3 billion; both outflows for U.S.-owned assets abroad
and inflows for foreign-owned assets in the United States increased substantially,
but outflows increased more than inflows. |
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The tables in this article may be viewed and downloaded interactively.
State Personal Income: First Quarter of 2004
Personal income for the Nation grew 1.4 percent, the same as in the fourth
quarter of 2003, and up from 1.2 percent in the third quarter. Personal
income growth accelerated in 21 states and in the District of Columbia.
Earnings in all industries except natural resources and mining grew. Decreases
in farm earnings contributed to decreases in personal income in three
states in the Plains region and in one state in the Rocky Mountain region.
| PDF
Looking Ahead
Annual Revision of the NIPAs. The annual NIPA revision will
be published in the August Survey. This issue will include an article
that describes the effects of the revision on GDP and on other major NIPA
estimates and the principal sources of the revision, and it will include
an extensive set of NIPA tables.
Results of the 2002 Benchmark Survey of U.S. Affiliates of Foreign
Companies. The preliminary results of the latest benchmark survey
of foreign direct investment in the United States will also be published
in the August Survey. These results update the annual data series on the
operations of these U.S. affiliates, and they provide additional data
that are only collected in benchmark surveys.
Travel and Tourism Satellite Accounts for 1998-2003. Updated
estimates that are based on the estimates from the recent comprehensive
revision of the annual industry accounts are scheduled to be published
in an upcoming issue of the Survey.
BEA Current and Historical Data
National Data
- Selected NIPA tables | PDF
- Other NIPA and NIPA-related tables |
PDF
- Historical measures | PDF
- Domestic perspectives | PDF
- Charts | PDF
International Data
- International perspectives | PDF
Regional Data
- State and regional tables | PDF
- Local area table | PDF
- Charts | PDF
Appendixes
- Additional information about the NIPA estimates
| PDF
- Suggested reading | PDF
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