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April 2004 - Volume 84 - Number 4

Business Situation: Final Estimates for the Fourth Quarter of 2003

The slower pace of U.S. production in the fourth quarter was confirmed by the final estimates of the national income and product accounts. Real GDP increased 4.1 percent after increasing 8.2 percent in the third quarter. The deceleration mainly reflected slower growth in consumer spending and a deterioration in the trade balance. Inflation slowed: The price index for gross domestic purchases increased 1.3 percent after increasing 1.8 percent, mainly reflecting a downturn in energy prices.

Corporate profits increased $81.4 billion (7.2 percent at a quarterly rate) after increasing $101.4 billion. Net Federal Government saving, the difference between current receipts and current expenditures, increased $77.0 billion, to -$417.9 billion, and net state and local government saving increased $26.8 billion, to $39.9 billion. | PDF
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XLS

Comparison of BEA Estimates of Personal Income and IRS Estimates of Adjusted Gross Income: New Estimates for 2001 and Revised Estimates for 1959-2000

Personal income and adjusted gross income--two widely used measures of household income--are reconciled through a series of adjustments for definitional and statistical differences between the two measures. The estimates reflect the incorporation of the results of the recent comprehensive NIPA revision and of new and updated estimates of adjusted gross income. | PDF | XLS

Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade, 1997:I-2003:IV

The quarterly and monthly estimates of inventories, sales, and inventory-sales ratios have been updated. In addition, the estimates of sales and ratios for the retail trade industries that were published in the February Survey have been corrected; as a result, the estimates of the sales and ratios for total manufacturing and trade industries have also been corrected. | PDF | XLS

Comprehensive NIPA Revision: Newly Available Tables

The Bureau of Economic Analysis continues to release the results of the 12th comprehensive revision of the NIPAs. | PDF | Interactive Data

U.S. International Transactions, Fourth Quarter 2003

The U.S. current-account deficit decreased $7.8 billion, to $127.5 billion. The decrease was accounted for by a large increase in the surplus on income and by an increase on the surplus on services. These increases were partly offset by increases in the deficit on goods and in net outflows for unilateral current transfers. In the financial account, net recorded financial inflows increased $75.0 billion, to $180.9 billion, as financial inflows for foreign-owned assets in the United States increased more than financial outflows for U.S.-owned assets abroad. | PDF |Interactive Data

U.S. International Transactions, 2003

The U.S. current-account deficit increased $61.0 billion, to $541.8 billion. The increase was mainly accounted for by an increase in the deficit on goods, but an increase in net outflows for unilateral current transfers and a decrease in the surplus on services also contributed. In the financial account, net recorded financial inflows increased $51.0 billion, to $579.0 billion, as financial inflows for foreign-owned assets in the United States increased more than financial outflows for U.S.-owned assets abroad.
| PDF |Interactive Data

Looking Ahead

Comprehensive Revision of State Personal Income. An article in the May Survey will present the results of the comprehensive revision of state personal income. The revised estimates will incorporate the results of the recent comprehensive NIPA revision, improvements in the source data and methods that are used for the state estimates, and newly available data from regular sources.

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 estimatesPDF
  • Suggested reading | PDF