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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
 September 1995

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

33 Preview of the Comprehensive Revision of the National Income and Product Accounts: 
    Recognition of Government Investment and Incorporation of a New Methodology for 
    Calculating Depreciation (PDF)
 
One major improvement in the upcoming NIPA revision will be the treatment of
government purchases of structures and equipment as investment, which will
result in a more complete and consistent measure of investment in the NIPA’s.
Another major improvement will be the implementation of a new methodology
for estimating depreciation, which will put these estimates on a firmer empirical
foundation.

Regular features

1 Business Situation (PDF)

Real GDP increased 1.3 percent in the second quarter of 1995. BEA’s alternative
measures of real GDP increased less—0.7 percent. Corporate profits increased
$11.4 billion, largely reflecting an increase in the profits of nonfinancial industries.
 
42 U.S. International Transactions, Second Quarter 1995 (PDF)
 
The U.S. current-account deficit increased $4.6 billion, to $43.6 billion, in the
second quarter. Most of the increase was due to a larger merchandise trade
deficit, reflecting faster growth in imports than in exports; the deficit on investment
income also increased. These increases were partly offset by a slight increase
in the surplus on services trade and a slight decrease in net unilateral
transfers.
 
68 U.S. International Sales and Purchases of Private Services: U.S. Cross-Border Transactions, 1994, 
     and Sales by Affiliates, 1993 (PDF)
 
In 1994, U.S. cross-border purchases of services from foreigners rose more rapidly
than U.S. sales of services to foreigners. The pattern of faster growth in
purchases than in sales also characterized services transactions through majority-
owned affiliates in 1993, the latest year for which data are available. During
1993–94, purchases of services were stimulated by economic expansion in the
United States, while sales of services tended to be constrained by sluggish economic
conditions in major foreign economies.

Reports and statistical presentations

5 National Income and Product Accounts (PDF)
5 Selected NIPA Tables
24 NIPA Charts 
26 Reconciliation and Other Special Tables 
28 Selected Monthly Estimates (PDF)

30 Constant-Dollar Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade (PDF)

32 BEA Customer Satisfaction Report (PDF)

C-1 Business Cycle Indicators (PDF)
C-1 Data tables 
C-6 Footnotes for pages C-1 through C-5 
C-7 Charts
C-28 Index to historical data for selected series
 
LOOKING AHEAD
National Income and Product Account Revision. The upcoming comprehensive, or
benchmark, revision of the national income and product accounts (NIPA’s) is scheduled
for release late this year. A box on page 34 provides dates for the release of the
revised estimates and some changes in the schedule for NIPA news releases that are
required to accommodate the earlier release of information from the comprehensive
revision. An article in the October SURVEY will preview the changes in NIPA table
formats that will be introduced in the comprehensive revision.
 
Composite Indexes Revision. The annual revision of the composite indexes of leading,
coincident, and lagging indicators will be presented in the October 1995 SURVEY. The
indexes will be revised from 1990 forward to incorporate revised data for component
series. Over the next few months, The Conference Board will be taking over preparation
and dissemination of the composite indexes. BEA will soon discontinue the “Business
Cycle Indicators” section of the SURVEY, probably by the end of 1995.
 
Ownership-Based Disaggregation of the U.S. Current Account. An article presenting a
disaggregation of U.S. current-account transactions along ownership lines for 1982–93
is scheduled for the October SURVEY. The article updates and extends an earlier BEA
effort to supplement the standard disaggregation, which groups transactions primarily
on the basis of types of goods and services traded, with a disaggregation that
groups transactions on the basis of whether they represent trade within multinational
firms or trade between unaffiliated parties.