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October 2004 - Volume 84 - Number 10

Business Situation: Final Estimates for the Second Quarter of 2004

Economic growth slowed in the second quarter. Real GDP increased 3.3 percent after increasing 4.5 percent in the first quarter; the slowdown primarily reflected a deceleration in consumer spending. Prices increased about as much as in first quarter; the price index for gross domestic purchases increased 3.5 percent after increasing 3.4 percent. Corporate profits increased $8.3 billion (0.7 percent at a quarterly rate) after increasing $36.5 billion (3.2 percent). The slowdown mainly reflected a downturn in the profits of financial corporations. | PDF | XLS

Estimates of Real Government Consumption Expenditures and Gross Investment by Function for 1959-2003

The inaugural estimates of real government spending by function include estimates for total government, for the Federal Government, and for state and local governments, and they are consistent with the NIPA estimates of government spending. The new estimates show that total government spending grew at an average annual rate of 2.3 percent in 1959-2003. Spending for income security grew the fastest, and spending for national defense grew the slowest. | PDF

Newly Available NIPA Tables

BEA continues to release the results from the 2003 comprehensive revision and the 2004 annual NIPA revision. | PDF | Interactive Data

Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade, 2000:IV-2004:II

The estimates have been revised to incorporate the results of the 2004 annual NIPA revision. | PDF

U.S. International Services: Cross-Border Trade in 2003 and Sales Through Affiliates in 2002

In 2003, U.S. exports of private services increased 5 percent to $294.1 billion, and U.S. imports increased 8 percent to $228.2 billion, resulting in a surplus in trade in services for the United States. In 2002, sales of services abroad by foreign affiliates of U.S. companies decreased 5 percent to $401.1 billion mainly because of a decline in sales by affiliates in utilities. Sales by U.S. affiliates of foreign companies in the United States increased 5 percent to $386.7 billion, reflecting U.S. economic growth. | PDF | The tables in this article are also available as XLS spreadsheets.

U.S. International Transactions: Second Quarter of 2004

The U.S. current-account deficit increased $19.0 billion to $166.2 billion. The increase was accounted for by a $12.8 billion increase in the deficit on goods, reflecting a surge in imports, and by a $9.5 billion decrease in the surplus on income. In contrast, the surplus on services increased $1.1 billion, and net outflows for unilateral current transfers decreased $2.2 billion.

In the financial account, net recorded financial inflows increased $8.2 billion. Both outflows for U.S.-owned assets abroad and inflows for foreign-owned assets in the United States decreased substantially, but outflows decreased more than inflows. | PDF | Interactive Data

State Personal Income: Second Quarter of 2004 and Revised Estimates for 2001-2004:I

BEA accelerated the release of the quarterly estimates of personal income so that these estimates were released at the same time as the annual estimates.

Personal income for the Nation grew 1.5 percent, up from 1.2 percent in the first quarter of 2004. Personal income growth accelerated in 33 states. Earnings grew in all industries except two. Increases in farm earnings contributed to increases in personal income in Arkansas and North Dakota.

In 2003, personal income for the Nation grew 3.2 percent, according to the revised estimates. Per capita personal income for the Nation was $31,459. | PDF

Looking Ahead

Gross Domestic Product by Industry. Revised estimates for 1987-97 that are based on the 1997 North American Industry Classification System (NAICS) are scheduled to be published in the November Survey.

Fixed Assets and Consumer Durable Goods. The updated estimates of the net stock of fixed assets and consumer durable goods for 1987-2003 that incorporate the results of the annual NIPA revision and that have been converted to the 1997 NAICS will be available on BEA's Web site in early November.

BEA Current and Historical Data

National Data

  • Selected NIPA tablesPDF 
  • 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