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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
 August 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

8 Annual Revision of the National Income and Product Accounts: Annual Estimates, 1993–95, and Quarterly Estimates, 1993:I–1996:I (PDF)

The revisions to the major aggregate NIPA measures of product, income, and prices that resulted from this year’s annual revision were small. For example, the annual growth rate of real GDP was revised up 0.1 percentage point to 2.3 percent for 1993 and was unrevised at 3.5 percent for 1994 and 2.0 percent for 1995. This year’s revision was limited to the updating of the annual weights used in the calculation of the chain-type measures of real output and prices, the incorporation of the results of this year’s annual revision of the balance of payments accounts, and the incorporation of newly available data on wages and salaries from the Bureau of Labor Statistics.

133 Improved Estimates of Gross Product by Industry, 1959–94 (PDF)

BEA’s estimates of gross product by industry have been revised, beginning with 1959 for the current-dollar estimates and with 1977 for the real estimates, to incorporate the results of the recent comprehensive revision of the NIPA’s and several statistical improvements specific to the GPO estimates. For 1977–94, the growth rates of real gross product by industry ranged from 4.9 percent for wholesale trade to 0.9 percent for mining. For 1959–94, the share of current-dollar GDP accounted for by private services-producing industries increased from 48.8 percent to 62.0 percent, while the share accounted for by private goods-producing industries declined from 38.8 percent to 24.2 percent.

Regular features

1 Business Situation (PDF)

Economic growth picked up in the second quarter of 1996: Real GDP increased 4.2 percent after increasing 2.0 percent in the first quarter. Inflation remained moderate: The price index for gross domestic purchases increased 2.0 percent after increasing 2.3 percent.

127 Federal Personal Income Tax Liabilities and Payments, 1959–94 (PDF)

BEA’s estimates of Federal personal income tax liabilities and payments have been revised, beginning with 1959, to incorporate the results of the recent comprehensive revision of the NIPA’s, as well as newly available tax return information. As is typical for most years, taxpayer payments of Federal income taxes for 1994 exceeded their tax liabilities by $5.3 billion; the excess in payments for 1994 was largely attributable to deferred payments of 1993 liabilities.

156 Personal Income by State and Region, First Quarter 1996 (PDF)

Personal income in the Nation increased 1.2 percent in the first quarter of 1996, the same rate of increase as in the fourth quarter of 1995. In the first quarter, personal income increased in all but two States: In Delaware, personal income was unchanged, and in Michigan, it declined. Of the 13 fastest growing States, 9 were in the western United States; Idaho had the fastest growth.

Reports and statistical presentations

15 National Income and Product Accounts (PDF)

15 Selected NIPA Tables

76  NIPA Charts

78 Errata

81 Updated Summary Methodologies (PDF)

104 Index to the NIPA Tables (PDF)

125 Selected Monthly Estimates (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)

 

LOOKING AHEAD

Pollution Abatement and Control Expenditures. Revised estimates of pollution abatement and control expenditures for 1972–93 and new estimates for 1994 will be presented in a forthcoming issue of the SURVEY.

Revision of Annual State Personal Income. The results of a comprehensive revision of the annual estimates of State personal income for 1969–95 will be presented in the October SURVEY.