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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
April 2001

S pecial in this issue

14 Ruggles and Ruggles--A National Income Accounting Partnership (PDF)

A tribute to Richard and Nancy Ruggles.


16 Comparing NIPA Profits With S&P Profits (PDF)

The long-term trends of these widely used measures of profits are similar, but the year-to-year changes sometimes differ substantially. For example, S&P operating earnings increased in 1998, while the NIPA measures of profits decreased. The differences between these measures reflect differences in purpose, definitions, and methodologies. S&P earnings cover the largest corporations, are based on financial-accounting methods, and provide a gauge of company performance at a particular point in time. NIPA profits cover all corporations, are primarily based on tax-accounting methods, and provide consistent time series.

R egular features

1 Business Situation (PDF)

Real GDP increased 1.0 percent in the fourth quarter of 2000, according to the "final" estimate; the "preliminary" estimate issued last month had shown a 1.1-percent increase. The change in private nonfarm inventories and exports of goods were revised down, and exports of services was revised up. Corporate profits fell $55.6 billion (5.7 percent at a quarterly rate). The Federal Government current surplus increased $23.5 billion, to $277.0 billion, and the State and local government current surplus decreased $0.1 billion, to $63.1 billion.


21 U.S. International Transactions, Fourth Quarter and Year 2000 (PDF)

In the fourth quarter of 2000, the U.S. current-account deficit increased $2.2 billion, to $115.3 billion; increases in the deficit on goods and services and in net unilateral current transfers more than offset a decrease in the deficit on income. In the financial account, net recorded inflows decreased $15.3 billion, to $86.6 billion; financial outflows increased more than financial inflows.

In the year 2000, the U.S. current-account deficit increased $103.9 billion, to $435.4 billion; the increase was almost entirely accounted for by a substantial rise in the deficit on goods. In the financial account, net recorded inflows increased $75.7 billion, to $399.1 billion; financial inflows increased more than financial outflows.


R eports and statistical presentations

12 Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade, 2000:IV (PDF)

D-1 BEA Current and Historical Data (PDF)

                          National Estimates

D-2 Selected NIPA Tables (PDF)

D-29 Other NIPA and NIPA-Related Tables (PDF)

D-38 Historical Measures (PDF)

D-41 Domestic Perspectives (PDF)

D-43 Charts (PDF)

                            International Estimates

D-51 Transactions Tables (PDF)

D-57 Investment Tables (PDF)

D-62 International Perspectives (PDF)

D-64 Charts (PDF)

                          Regional Estimates

D-65 State and Regional Tables (PDF)

D-69 Local Area Table (PDF)

D-71 Charts (PDF)


D-73 Additional Information About the NIPA Estimates (PDF)

D-75 Suggested Reading (PDF)


Inside back cover: Getting BEA's Estimates

Back cover: Schedule of Upcoming BEA News Releases


Looking Ahead

Annual Revision of Local Area Personal Income. On May 3, 2001, BEA will release the results of the annual revision of local area personal income for 1997-99. An article that presents the new estimates for 1999 and the revised estimates for 1997 and 1998 of personal income for counties, metropolitan areas, and BEA economic areas will be published in the May Survey .

North American Industry Classification System. An article that describes the development and structure of the North American Industry Classification System and its implementation into BEA's economic accounts will be published in a forthcoming issue of the Survey .