May 2003 - Volume 83 - Number 5

Business Situation: Advance Estimates for the First Quarter of 2003

U.S. production continued to grow slowly in the first quarter of 2003: Real GDP increased 1.6 percent after increasing 1.4 percent in the fourth quarter of 2002. Growth in consumer spending and government spending was weak, and private investment, exports, and imports all declined. Inflation stepped up: The price index for gross domestic purchases increased 3.6 percent after increasing 1.8 percent. Most of the step-up was attributable to a jump in energy prices.
(PDF) (Tables in XLS format.)

Gross Domestic Product by Industry for 2002

In mid-April, BEA released estimates of real GDP by industry for 2002, the first time the real estimates have been released on an accelerated basis. According to these estimates, real GDP in private services-producing industries led the broad-based economic growth in 2002. Growth in wholesale and retail trade and in electric, gas, and sanitary services was particularly strong. Real GDP in private goods-producing industries also grew in 2002, following a slight decline in 2001. The upswing primarily reflected an upturn in nondurable-goods manufacturing.
(PDF) (Tables in XLS format)

State Personal Income and Per Capita Personal Income, 2002

Growth in per capita personal income slowed in 34 states in 2002, reflecting the slowdown in growth in per capita personal income for the Nation to 1.7 percent from 2.2 percent in 2001. Growth rates ranged from more than 4.0 percent in North Dakota, Montana, and Louisiana to less than 0.5 percent in Nevada and Texas. The slowdown in the growth in per capita personal income for the Nation reflected a slowdown in the growth in personal income, primarily in net earnings but also in dividend, interest, and rental income. By industry, earnings in both farms and manufacturing declined.
(PDF)

Local Area Personal Income, 1999-2001

BEA recently released the results of this year's annual revision of personal income for counties, metropolitan areas, and BEA economic areas. These estimates incorporate the results of the most recent annual revision of state personal income and newly available county-level source data.

In 2001, the gap in personal income growth rates for urban and rural areas narrowed to its smallest amount since 1996. Personal income in metropolitan areas increased 3.4 percent, and personal income in nonmetropolitan areas in-creased 2.9 percent. Despite a decline in 2001, the San Francisco, CA, metropolitan area again had the highest per capita personal income, at $57,714. Of the counties with population exceeding 50,000, Loudoun County, VA, had the fastest growth in personal income, at 12.5 percent. New York County (Manhattan), NY, again had the highest per capita personal income, at $92,984.
(PDF)

Looking Ahead

Comprehensive Revision of the NIPA's. The upcoming comprehensive revision of the NIPA's is scheduled for release in late 2003. BEA is planning to publish three articles that preview the main features of the comprehensive revision. The first of these articles, covering major changes in definitions and classifications, is scheduled for the June Survey.

State Government and Local Government Receipts and Expenditures. An article that provides separate estimates of the finances of state governments and of local governments for 1959-2001 on a NIPA basis will be published in a forthcoming issue of the Survey . The article will describe the state and local government estimates and how they are measured, and it will summarize broad trends in the 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)