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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
 July 1996

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

56 U.S. International Transactions, Revised Estimates for 1986–95 (PDF)

This year’s annual revision of the balance of payments accounts features major improvements in the coverage of both the services markets and the capital markets. In the services markets, coverage is extended and improved through the incorporation of the results of BEA’s first benchmark survey of international trade in financial services; in the capital markets, coverage is improved through the incorporation of the results of a special survey of selected foreign financial assets. In addition, the accuracy of the estimates of personal remittances of the foreign-born population of the United States is improved through the incorporation of newly available data from the Census Bureau, the Immigration and Naturalization Service, and the Department of Labor.

Regular features

1 Business Situation (PDF)

Real GDP increased 2.2 percent in the first quarter of 1996. Real GNP increased 2.5 percent, and real GNP on a command basis also increased 2.5 percent. Corporate profits increased $33.4 billion; profits of both financial and non-financial domestic corporations rebounded from fourth-quarter decreases.

36 The International Investment Position of the United States in 1995 (PDF)

The net international investment position of the United States became more negative in 1995: On a current-cost basis, it fell $233.9 billion, to -$814.0 billion; and on a market-value basis, it fell $281.2 billion, to -$773.7 billion. The change in the position was attributable to large net capital inflows and to larger price appreciation in U.S. securities than in foreign securities.

45 Direct Investment Positions on a Historical-Cost Basis: Country and Industry Detail for 1995 and Changes in Geographic Composition Since 1982 (PDF)

In 1995, the U.S. direct investment position abroad valued at historical cost increased 15 percent, and the foreign direct investment position in the United States increased 11 percent. From 1982 to 1995, the shares of the U.S. direct investment position abroad accounted for by Europe, Asia and Pacific, and Latin America and Other Western Hemisphere increased, while the share accounted for by Canada decreased; the shares of the foreign direct investment position in the United States accounted for by Asia and Pacific increased, while the shares accounted for by most other areas decreased.

61 U.S. International Transactions, First Quarter 1996 (PDF)

The U.S. current-account deficit increased $5.2 billion, to $35.6 billion, in the first quarter of 1996. An increase in the deficit on goods and services and higher net unilateral transfers more than offset a decrease in the deficit on investment income.

102 Foreign Direct Investment in the United States: New Investment in 1995 and Affiliate Operations in 1994 (PDF)

In 1995, outlays by foreign investors for acquiring and establishing U.S. businesses increased for the third consecutive year; however, they remained well below the levels in 1988–90, when investments from Japan were much higher. In 1994, most measures of the operations of U.S. affiliates of foreign companies increased; for example, the gross product of nonbank U.S. affiliates increased 12 percent, and their share of U.S. private-industry gross product increased to 6.2 percent from 6.0 percent.

Reports and statistical presentations

5 National Income and Product Accounts (PDF)

5 Selected NIPA Tables

29  NIPA Charts

31 Reconciliation and Other Special Tables

32 Selected Monthly Estimates (PDF)

34 Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade (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. As previously announced, this year’s "limited" annual revision of the NIPA’s will be presented in the August SURVEY. For more information on the NIPA revision, see the box on page 4.

Gross Product by Industry. Revised estimates of gross product by industry for 1959–94 will appear in the August SURVEY; the revised estimates will incorporate the recent comprehensive revision of the NIPA’s as well as several methodological and statistical improvements. As part of this revision, BEA will feature chain-type measures of real gross product by industry.