Bureau of Economic Analysis
	Survey of Current Business Table of Contents May 2001

S pecial in this issue

7 The North American Industry Classification System in BEA's Economic Accounts (PDF)

Over the next several years, the North American Industry Classification System (NAICS) will replace the Standard Industrial Classification system as the basis for identifying, compiling, and presenting industry data. NAICS is organized on a more conceptually consistent basis, adds new classifications for high-tech and services industries, and provides industry statistics that are more comparable internationally. The agencies that provide source data for BEA's estimates will implement NAICS on a staggered schedule, so there will be a difficult transition period in which some of the data will be on a NAICS basis, and some will not. In addition, the implementation of NAICS will result in breaks in time series for many of the industry estimates.

R egular features

1 Business Situation (PDF)

The pace of U.S. production picked up in the first quarter of 2001, but it still remained considerably below the average growth rate for the current expansion. In contrast, the pace of domestic purchases slowed for the third consecutive quarter. Inflation picked up.

 

14 Federal Budget Estimates, Fiscal Year 2002 (PDF)

Each year, BEA prepares an adjusted version of the administration's budget that puts the budget's receipts and outlays on a basis that is consistent with the framework of the NIPA's. For fiscal year 2002, the Federal current surplus on the NIPA basis is estimated at $221.0 billion, compared with the surplus of $231.2 billion in the administration's budget. The NIPA estimate of current receipts exceeds the budget estimate of receipts by $8.0 billion, and the NIPA estimate of current expenditures exceeds the budget estimate of outlays by $18.1 billion.

 

24 Personal Income and Per Capita Personal Income by State, 2000 (PDF)

All States shared in the strong growth in the Nation's personal income in 2000. The fastest growing States were Colorado, California, Massachusetts, New Hampshire, and Idaho; much of the strength reflected rapid growth in high-tech manufacturing industries and in business services. The slowest growing States were Alabama, Mississippi, Louisiana, Hawaii, and West Virginia. Per capita income in the Nation was $29,676; Connecticut had the highest per capita income, at $40,640, and Mississippi had the lowest, at $20,993.

 

50 Local Area Personal Income, 1997-99 (PDF)

According to newly released estimates for metropolitan areas, the San Jose, CA, area had the fastest growth in personal income in 1999, and the Rocky Mount, NC, area had the slowest. The San Francisco, CA, area had the highest per capita personal income, at $49,695, and the McAllen-Edinburg-Mission, TX, area had the lowest, at $13,339. According to newly released estimates for counties, Williamson County, TX, had the fastest growth in personal income, and Edgecombe County, NC, had the slowest. New York County, NY, had the highest per capita personal income, at $81,665, and Loup County, NE, had the lowest, at $4,896. The local area estimates for 1997-99 incorporate the results of the most recent annual revision of State personal income and new and revised county-level source data for 1997-98.

 

 

R eports and statistical presentations