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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
 July 2000

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.

R egular features

1 Business Situation (PDF)

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.


Reports and statistical presentations

D-1 BEA Current and Historical Data

              National Data:

                    D--2 Selected NIPA Tables (PDF)

                    D--29 Other NIPA and NIPA-Related Tables

                    D--38 Historical Tables

                    D--41 Domestic Perspectives

                    D--43 Charts

              International Data:

                    D--51 Transactions Tables

                    D--57 Investment Tables 

                    D--62 International Perspectives

                    D--64 Charts


                    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.