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Home > Publications > Survey of Current Business > January 2005 - Volume 85 - Number 1


January 2005 - Volume 85 - Number 1

Business Situation: Final Estimates for the Third Quarter of 2004

Economic growth picked up in the third quarter. Real GDP increased 4.0 percent after increasing 3.3 percent in the second quarter; the pickup mainly reflected a step-up in consumer spending. Inflation slowed; the price index for gross domestic purchases increased 1.9 percent after increasing 3.5 percent. Real disposable personal income slowed, increasing 2.0 percent after increasing 2.8 percent.

Corporate profits decreased $55.9 billion (4.8 percent at a quarterly rate) after increasing $8.3 billion. The decrease mainly reflected a decrease in the profits of financial corporations. | PDF

Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade for the Third Quarter of 2004

The estimates have been updated, including the estimates of inventories for manufacturing by stage of fabrication. | PDF

Annual Industry Accounts: Revised Estimates for 2001-2003

These revised, more detailed estimates of the integrated annual GDP-by-industry accounts and the input-output accounts present an updated picture of U.S. economic activity that confirms and clarifies the industry trends that were indicated by the previously published estimates. | PDF

U.S. International Transactions: Third Quarter of 2004

The U.S. current-account deficit increased $0.3 billion to $164.7 billion. The slight increase was accounted for by a $3.2 billion increase in the deficit on goods, reflecting a larger increase in imports than in exports, and by a $1.1 billion decrease in the surplus on services. In contrast, net outflows for unilateral current transfers decreased $3.7 billion, and the surplus on income increased $0.2 billion.

In the financial account, net recorded financial inflows decreased $11.7 billion. Both outflows for U.S.-owned assets abroad and inflows for foreign-owned assets in the United States increased, but outflows increased more than inflows. | PDF | The tables in this article may be viewed and downloaded interactively.

An Ownership-Based Framework of the U.S. Current Account, 1992-2003

BEA's ownership-based current account has been updated. This report presents revised estimates for 1992-2002 and new summary estimates for 2003. This framework supplements BEA's international transactions accounts by highlighting the participation of multinational companies in the international markets for goods and services through both cross-border trade and sales by local affiliates. | PDF

Comprehensive Revision of Gross State Product: Accelerated Estimates for 2003 and Revised Estimates for 1977-2002

This revision incorporates the results of the comprehensive revisions of the NIPAs, of the annual integrated industry accounts, and of the state personal income accounts. As a result, BEA's regional accounts are now more consistent with the estimates of GDP and GDP by industry. This revision also features the accelerated release of current-dollar estimates of GSP for 2003. | PDF | The tables in this article may be viewed and downloaded interactively.

State Personal Income: Third Quarter of 2004

Personal income growth for the Nation slowed to a 0.8-percent increase from a 1.6-percent increase in the second quarter. Personal income growth in all but seven states slowed. Hurricane property damage affected personal income growth in Florida and Alabama. Earnings growth was concentrated in seven industries. In several states with large farm sectors, the slow growth in personal income reflected decreases in farm earnings. | PDF | The tables in this article may be viewed and downloaded interactively.

Looking Ahead

Evaluation of the NIPA Estimates of U.S. Economic Activity. The results of the most recent evaluation of the estimates of GDP and of gross domestic income are scheduled to be published in an upcoming issue of the Survey. The reliability of these estimates is assessed by examining the record of the revisions to the quarterly and annual estimates. 

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

  • Transactions tables | PDF 
  • Investment tables | PDF  
  • International perspectives | PDF
  • Charts | 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