Bureau of Economic Analysis

BEA抯 featured measure of real GDP growth, which is based on fixed 1987

weights, increased 1.1 percent in the second quarter of 1995, down from a 2.7-

percent increase in the first quarter. BEA抯 chain-weighted measure of real GDP

also slowed sharply梩o a 0.5-percent increase from a 1.7-percent increase. Corporate

profits increased $15.5 billion after increasing $9.4 billion. The Federal

Government deficit fell to $128.0 billion, the lowest level since the second quarter

of 1982, while the State and local government surplus declined to $26.1 billion.

35 State Personal Income, Revised Estimates for 1992� (PDF)

The annual estimates of State personal income for 1992� have been revised to

incorporate newly available national and State-level source data. For 1993,

personal income was revised up substantially for most States in the Rocky

Mountain region and for some States in the Plains region. For 1994, personal

income was revised down for all regions except the Rocky Mountain region; the

largest downward revisions were for the Mideast and Great Lakes regions.

11 National Income and Product Accounts (PDF)

33 Selected Monthly Estimates (PDF)

53 Foreign Direct Investment in the United States: Detail for Historical-Cost 

     Position and Related Capital and Income Flows, 1994 (PDF)

88 U.S. Direct Investment Abroad: Detail for Historical-Cost Position and 

     Related Capital and Income Flows, 1994 (PDF)

117 Errata, U.S. International Transactions Accounts (PDF)

C-1 Business Cycle Indicators (PDF)

		NATIONAL INCOME AND PRODUCT ACCOUNTS

The upcoming comprehensive, or benchmark, revision of the national income and

product accounts (NIPA抯) is scheduled for release at the end of 1995; the usual annual revision

covering 1992� will be combined with the comprehensive revision. The article in the

July 1995 SURVEY that discusses BEA抯 new featured measures of real output and prices was

the first in a series of articles previewing the comprehensive revision. Future articles will

cover other changes, including (1) definition of government expenditures for plant and

equipment as investment, which will result in a more consistent treatment of investment in

the NIPA抯, (2) introduction of an improved empirical basis for the estimates of depreciation

and capital stocks, and (3) improvements in the presentation of the NIPA抯.

		BUSINESS CYCLE INDICATORS

After evaluating proposals received from several private organizations, the Department

of Commerce has selected The Conference Board to take over the preparation and

dissemination of the composite indexes of leading, coincident, and lagging indicators. Details

of the transition have not been finalized, but the indexes will continue to be produced

with no immediate changes in composition, methodology, or schedule.

As part of a reprogramming of selected resources into areas that are vital to its mission

of preparing economic accounts, BEA will soon discontinue the 揃usiness Cycle Indicators�/p>

(BCI) section of the SURVEY, probably by the end of 1995. However, The Conference Board

has indicated that it intends to begin maintaining and publishing a set of data similar to the

BCI section. In addition, data for many BCI series will continue to be available from their

government or private sources; a listing of these sources will be published in an upcoming

SURVEY.