November 2003 - Volume 83 - Number 11

Business Situation: Advance Estimates for the Third Quarter of 2003

The pace of U.S. production accelerated in the third quarter of 2003. Real GDP increased 7.2 percent after increasing 3.3 percent in the second quarter. The acceleration reflected an improved trade balance and strong consumer spending. Inflation was moderate: The price index for gross domestic purchases increased 1.9 percent after increasing 0.4 percent, partly reflecting an upturn in energy prices. | PDF | XLS

Chained-Dollar Indexes: Issues, Tips on Their Use, and Upcoming Changes

This article discusses the advantages of using chain-weighted indexes and the challenges of using chained dollars. It outlines BEA's plans to address these issues as part of the 2003 comprehensive revision of the NIPAs, and it provides suggestions for using chained dollars so that biases and errors are minimized in forecasting and in other applications in which the components of GDP are aggregated. | PDF

Business Investment by Industry in the U.S. Economy for 1997

The capital flow table shows the destination of the new capital investment in equipment, software, and structures by the industries that purchased or leased these capital goods and services. It provides a detailed view of the investment of 180 commodities for 123 industries on the basis of the North American Industry Classification System. This table supplements the use table from the 1997 benchmark input-output accounts that shows private fixed investment by detailed commodity for each industry. | PDF | XLS

Reconciliation of the U.S.-Canadian Current Account, 2001 and 2002

Each year, the U.S. and Canadian current-account estimates are reconciled using a common set of definitions, methodologies, and data sources. On the reconciled basis, the U.S. current-account deficits with Canada are larger than those shown in the U.S.-published accounts. For 2001, the deficit on the reconciled basis is $39.1 billion, and the U.S.-published deficit is $28.1 billion. For 2002, the reconciled deficit is $38.0 billion, and the published deficit is $30.4 billion. | PDF

U.S. Multinational Companies: Operations in 2001

The worldwide value added in production by U.S. multinational companies decreased 7.7 percent in 2001, reflecting decreases in production by both U.S. parent companies and their majority-owned foreign affiliates. Despite the decreases in production, these companies continued to increase their capital spending.

By industry, the decrease in production was most pronounced in the manufacture of durable goods, such as motor vehicles and computers, due to weak demand. By area, the decreases were most pronounced in Africa and in Latin America and Other Western Hemisphere. | PDF

State Personal Income: Second Quarter 2003

Personal income for the Nation grew 0.8 percent in the second quarter of 2003, about the same as in the first quarter. Reflecting the above-average growth in natural resources and mining, 4 of the 10 fastest growing states were in the Plains region, and 2 of the 10 were in the Rocky Mountain region. In 21 states and the District of Columbia, net earnings, the largest of the three major components of personal income, grew faster in the second quarter than in the first quarter. | PDF | The tables in this article are available interactively.

Looking Ahead

Comprehensive Revision of the National Income and Product Accounts. The release of the upcoming comprehensive revision of the NIPAs is scheduled for December 10, 2003. The December Survey will provide a summary of the revised estimates. The January 2004 Survey will include an article that describes the comprehensive revision in detail and an extensive set of tables that will present the revised estimates.

BEA Current and Historical Data

National Data

• Selected NIPA tables | PDF
• Other NIPA and NIPA-related tables | PDF
• Historical measures | PDF
• Domestic perspectives | PDF
• Charts | PDF

International Data

• Transactions tables | PDF
• Investment tables | PDF
• International perspectives | PDF
• Charts | PDF

Regional Data

• State and regional tables | PDF
• Local area table | PDF
• Charts | PDF

Appendixes

• Additional information about the NIPA estimates | PDF
• Suggested reading | PDF