Selected articles may be accessed by clicking on the
links below. (An
Acrobat version of the
table of contents will be available soon, links to other files will work only when you use Acrobat Reader 4.0.)
Special in this issue
8 U.S. Travel and Tourism Satellite Accounts for
1996 and 1997 (PDF)
The U.S. travel and
tourism satellite accounts (TTSA's) have been updated to present estimates for 1996
and 1997. Like the 1992 TTSA's, the 1996 and 1997 TTSA's extend the
input-output accounts to present a more comprehensive picture of the impact
of travel and tourism activities on the U.S. economy. According to the
TTSA's, final domestic demand for travel and tourism grew at an average
annual rate of 6.9 percent from 1992 to 1997, while GDP increased at an
average annual rate of 5.6 percent.
70 U.S. International Transactions, Revised
Estimates for 1982-99 (PDF)
This year's annual
revision of the international transactions accounts incorporates
improvements to the investment income and portfolio capital accounts. The
estimates of investment income are revised to incorporate the final results
of the U.S. Treasury Department's Benchmark Survey of U.S. Portfolio
Investment Abroad as of December 31, 1997. Net U.S. purchases of foreign
securities are revised to reflect improvements in the accounting for
large-scale foreign acquisitions of U.S. companies and to reflect other
improvements in the coverage of U.S. transactions in foreign securities. The
revised estimate of the U.S. current-account deficit for 1999 is -$331.5
billion, compared with the previously published estimate of -$338.9
billion.
124 Comprehensive Revision of Local Area Personal
Income: Revised Estimates for 1969-97 and New Estimates for 1998 (PDF)
On June 15, 2000, BEA
released estimates of local area personal income for 1969-98 that
incorporated the results of the most recent comprehensive revisions of State
personal income and of the NIPA's as well as improved methods for preparing
the estimates and newly available data from regular sources. In general, the
local area estimates were revised up, primarily reflecting the NIPA
definitional change that reclassified government employee retirement plans.
This release represents a speedup of about a year in the availability of
local area estimates of personal income that are consistent with the
recently revised State personal income estimates and NIPA
estimates.
Real GDP increased 5.5
percent in the first quarter of 2000 after increasing 7.3 percent in the
fourth quarter of 1999; the price index for gross domestic purchases
increased 3.5 percent after increasing 2.3 percent. Corporate profits
increased $46.2 billion (5.0 percent at a quarterly rate) in the first
quarter.
26 U.S. Multinational Companies: Operations in 1998 (PDF)
Growth slowed in three key
measures--gross product, employment, and capital expenditures--of the
operations of U.S. multinational companies in 1998 after strong growth in
1997. The gross product of U.S. parent companies increased 2.2 percent in
1998 after increasing 6.3 percent in 1997, and the gross product of the
majority-owned affiliates of U.S. companies declined 1.9 percent after
increasing 4.5 percent.
46 The International Investment Position of the
United States at Yearend 1999 (PDF)
The net international
investment position of the United States changed little in 1999: At yearend,
it was -$1,082 billion on a current-cost basis and -$1,474 billion on a
market-value basis. Large net financial inflows were offset by greater price
appreciation in U.S.-owned assets abroad than in foreign-owned assets in the
United States
.
58 Direct Investment Positions for 1999: Country
and Industry Detail (PDF)
The U.S. direct investment
position abroad valued at historical cost increased 12 percent in 1999, and
the foreign direct investment position in the United States valued at
historical cost increased 24 percent. The strong growth in both positions
reflected the global boom in merger and acquisition activity, favorable
economic conditions in the United States, Europe, and Canada, and improved
economic conditions in the Asia and Pacific area.
79 U.S. International Transactions, First Quarter
2000 (PDF)
The U.S. current-account
deficit increased $6.1 billion, to $102.3 billion, in the first quarter of
2000; the increase was more than accounted for by a large increase in the
deficit on goods. In the financial account, net recorded inflows increased
$2.0 billion, to $71.7 billion; financial inflows increased more than
financial outflows.
D--73
Appendix A: Additional Information About BEA's NIPA Estimates
D--75
Appendix B: Suggested Reading
Inside back cover: Getting BEA's Estimates
Back cover: Schedule of Upcoming BEA News Releases
Looking
Ahead
Annual Revision of the National Income and Product Accounts. An article presenting the revised estimates for 1997-2000:I and discussing the major sources of the revisions will be published in the August Survey. Selected revised estimates will be available on July 28 as part of the release of the "advance" GDP estimates for the second quarter of 2000.
