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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
 April 1997

Selected articles may be accessed by clicking on the links below. (An Acrobat (PDF) version of the table of contents is also available; however, links to other files will work only when you use Acrobat Reader 4.0.)

Special in this issue

8 Real Gross Product of U.S. Companies’ Majority Owned Foreign Affiliates in Manufacturing (PDF)

BEA has developed experimental estimates of real gross product of majority owned foreign affiliates in manufacturing for 1982–94. These estimates are more useful than the current-dollar estimates for comparisons over time or across countries because they exclude changes in value that arise from movements in prices or exchange rates. As might be expected, removing the effects of changes in prices and exchange rates produces a gross product series that is generally both slower growing and less volatile than the current-dollar series. The new, experimental estimates are largely based on a newly developed procedure that uses "purchasing-power-parity" exchange rates to construct estimates for a base year and then constructs the estimates for other years by extrapolating the base year estimates with chain-weighted Fisher quantity indexes similar to those used by BEA to estimate changes in U.S. gross domestic product.

Regular features

1 Business Situation (PDF)

Real GDP increased 3.8 percent in the fourth quarter of 1996, up from a 2.1- percent increase in the third quarter. Real GNP increased 4.2 percent in the fourth quarter. Corporate profits decreased $7.1 billion, in contrast to a $5.4 billion increase in the third quarter; profits of domestic financial corporations decreased much more in the fourth quarter than in the third, and profits of domestic non-financial corporations decreased after increasing. In the fourth quarter, the Federal Government current deficit decreased $14.9 billion, to $105.9 billion, the smallest deficit since the third quarter of 1989; the State and local government surplus increased $1.7 billion, to $90.9 billion.

18 U.S. International Transactions, Fourth Quarter and Year 1996 (PDF)

In the fourth quarter of 1996, the U.S. current-account deficit decreased $6.5 billion, to $41.4 billion; the deficits on goods and services and on investment income decreased, while net unilateral transfers increased. In the capital account, net recorded inflows were $68.0 billion in the fourth quarter, $1.7 billion lower than in the third. For the year 1996, the current-account deficit increased $16.9 billion, to $165.1 billion; the deficits on goods and services and on investment income increased, and net unilateral transfers increased. In the capital account, net recorded inflows were $218.2 billion in 1996, $101.6 billion higher than in 1995.

Reports and statistical presentations

6 Real Inventories, Sales, and Inventory Sales Ratios for Manufacturing and Trade  (PDF)

D–1 BEA Current and Historical Data

National Data:

D--2 Selected NIPA Tables (PDF)
D--26 Other NIPA and NIPA-Related Tables (PDF)
D--34 Historical Tables (PDF)
D--45 Domestic Perspectives (PDF)
D--47 Charts (PDF)

International Data:

D–55 Summary U.S. international transactions (PDF)

D–61 Investment tables (PDF)

D–66 International perspectives (PDF)

D–68 Charts (PDF)

Regional Data:

D--69 State and regional tables (PDF)

D--73 Local area table (PDF)

D--75 Charts (PDF)


D--77 Appendix A: Additional information about BEA’s NIPA estimates (PDF)
D--79 Appendix B: Suggested reading (PDF)

Inside back cover: BEA Information (PDF)

(A listing of recent BEA publications available from the Government Printing Office)

Back Cover:  Schedule of Upcoming BEA News Releases (PDF)



National Income and Product Accounts. In the May SURVEY, BEA will publish the following NIPA and wealth estimates that reflect the completion of the most recent comprehensive revision of the NIPA’s: Revised NIPA summary estimates for 1929–96, revised estimates of reproducible tangible wealth for 1929–95, and newly available and revised NIPA estimates of selected series for 1991–96. For more information, see the box on page 5.