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Home > Publications > Survey of Current Business > July 2004 - Volume 84 - Number 7 |
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July 2004 - Volume 84 - Number 7Business Situation: Final Estimates for the First Quarter of 2004Real 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. | PDF | XLS Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade, First Quarter 2004The 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 TablesBEA 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 2002The 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 2003The 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 DetailThe 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. | PDF Annual Revision of the U.S. International Accounts, 1989-2003Each 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 AccountsThe 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 2004The 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. | PDF | The tables in this article may be viewed and downloaded interactively. State Personal Income: First Quarter of 2004Personal 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 AheadAnnual 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. BEA Current and Historical Data
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