Table of Contents August 2002

• Special in this issue
• Regular features
• Reports and statistics

Special in this issue

7 Annual Revision of the National Income and Product Accounts: Annual Estimates, 1999-2001, and Quarterly Estimates, 1999:I-2002:I

• The revised estimates show weaker economic growth than that shown by the previously published estimates, particularly in 2001. Real GDP now shows declines in the first three quarters of 2001; in the previous estimates, it had shown a decline only in the third quarter. Over the period covered by the revisions, the average annual growth rate of real GDP was revised down from 2.8 percent to 2.4 percent; the largest downward revisions were in investment in equipment and software and in personal consumption expenditures for services. The revised estimates reflect the incorporation of newly available and revised regular source data and of changes in methodology, including the introduction of several new price indexes. In addition, a change in the methodology and the revision schedule for the quarterly estimates of wages and salaries will allow the earlier incorporation of more comprehensive source data.
  (PDF) (Tables in XLS format)

143 A Preview of the 1997 Benchmark Input-Output Accounts: New Detailed and Summary Industries

• In the upcoming 1997 benchmark input-output accounts, BEA will present the detailed and summary industries on the basis of the 1997 North American Industry Classification System. (PDF) (Table in XLS format)

Regular features

1 Business Situation: Advance Estimates for the Second Quarter of 2002

• The pace of U.S. production slowed in the second quarter of 2002: Real GDP increased 1.1 percent after increasing 5.0 percent in the first quarter. The deceleration was mainly accounted for by slowdowns in inventory investment, consumer spending, and government spending. Inflation picked up in the second quarter: Prices of gross domestic purchases increased 2.1 percent after increasing 1.2 percent. The pickup was more than accounted for by a sharp upturn in energy prices.
  (PDF) (Tables in XLS format)

149 U.S. Affiliates of Foreign Companies: Operations in 2000

• Largely as a result of record levels of new foreign investment, the current-dollar gross product of U.S. nonbank affiliates of foreign companies increased 14 percent in 2000, up from increases of 8 percent in 1998 and 9 percent in 1999. The U.S.-affiliate share of GDP in U.S. private industries rose to a record 7.0 percent from 6.5 percent in 1999. By country of ownership, several large acquisitions helped push the British-owned affiliates' share of the gross product of all affiliates to more than 20 percent.
  (PDF) (Tables in XLS format)

168 Personal Income by State, First Quarter 2002

• In about three-fifths of the States, personal income increased in the first quarter of 2002 after decreasing in the fourth quarter of 2001, and in nearly all of the remaining States, personal income increased more in the first quarter than in the fourth. Part of the strength in the first quarter was accounted for by the annual cost-of-living adjustments to social security program benefits and by other special factors. Nevada and North Dakota had the sharpest turnarounds in personal income, and Wyoming was the only State in which personal income decelerated. (PDF)

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Reports and statistics

36 National Income and Product Accounts Tables