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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
 June 2000

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

S pecial in this issue

15 Note on Rates of Return for Domestic Nonfinancial Corporations: Revised Estimates for 1960-98 (PDF)

18 Government Spending by Function: A New Presentation (PDF)

24 Improved Estimates of Gross Product by Industry for 1947-98 (PDF)

The estimates of gross product by industry have been revised to incorporate the results of the recent comprehensive revision of the NIPA's, newly available source data, and several methodological changes. The most significant element of the revision is the development of an integrated set of estimates of gross output, intermediate inputs, and gross product originating (GPO) for all industries. This result enabled the extension of the double-deflation method for computing real GPO to all industries, thereby improving the reliability of the estimates and their consistency with the NIPA estimates. The revisions did not greatly affect the growth rates for real GPO: Real GPO growth for private industries was revised up 0.3 percentage point, the same as the upward revision to real GDP.

64 Comprehensive Revision of State Personal Income: Revised Estimates for 1969-98 and Preliminary Estimates for 1999 (PDF)

On May 17, 2000, BEA released revised estimates of State personal income for 1969-99 that incorporated the results of the most recent comprehensive revision of the NIPA's, newly available benchmark source data, and improved methods for preparing the State estimates. In general, the State estimates were revised up, reflecting several major improvements that were introduced into the national estimates. This release represents a speedup of nearly 6 months in the availability of State personal income estimates that are consistent with the recently revised NIPA estimates.


R egular features

1 Business Situation (PDF)

Real GDP increased 5.4 percent in the first quarter of 2000 after in-creasing 7.3 percent in the fourth quarter of 1999; the price index for gross domestic purchases increased 3.2 percent after increasing 2.3 percent. Corporate profits increased $34.5 billion (3.8 percent at a quarterly rate) in the first quarter. The Federal Government current surplus increased $74.1 billion, to $186.3 billion, and the State and local government current surplus decreased $12.1 billion, to $56.7 billion.


55 Foreign Direct Investment in the United States: New Investment in 1999 (PDF)

Outlays by foreign investors to acquire or establish businesses in the United States increased to a record $282.9 billion in 1999 from $215.3 billion in 1998. The exceptionally high outlays in both years reflect a worldwide boom in merger and acquisition activity, the continuing strength of the U.S. economy, and the increasing number and size of large investments.



R eports and statistical presentations

130 Subject Guide for Volume 80, Numbers 1-6 (PDF)

D-1 BEA Current and Historical Data

              National Data:

                    D--2 Selected NIPA Tables (PDF)

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

                    D--38 Historical Tables (PDF)

                    D--41 Domestic Perspectives (PDF)

                    D--43 Charts (PDF)

              International Data:

                    D--51 Transactions Tables (PDF)

                    D--57 Investment Tables (PDF)

                    D--62 International Perspectives (PDF)

                    D--64 Charts (PDF)

              Appendixes: (PDF)

                    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 U.S. International Transactions Accounts. An article that summarizes the revisions to the estimates of U.S. international transactions and that discusses the major sources of the revisions will be published in the July Survey. Most of the revisions will affect the estimates for 1995-99. Selected revised estimates will be available on June 20 as part of the release of the estimates of U.S. international transactions for the first quarter of 2000.

Comprehensive Revision of Local Area Personal Income. The results of a comprehensive revision of the estimates of local area personal income for 1969-98 were released on June 15 and will be published in the July Survey. The revised estimates will incorporate the results of the recent comprehensive revisions of the NIPA's and of State personal income, the improvements in the source data and the methods for the local area estimates, and newly available data from regular sources.

Travel and Tourism Satellite Accounts. An article that updates the U.S. travel and tourism satellite accounts to 1997 will be published in the July Survey. The updated accounts, which will be based on the 1996 annual input-output accounts, will show the growth in tourism expenditures and the output of tourism industries.