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December 2004 - Volume 84 - Number 12

Business Situation: Preliminary Estimates for the Third Quarter of 2004

Economic growth picked up in the third quarter. Real GDP increased 3.9 percent after increasing 3.3 percent in the second quarter; the pickup mainly reflected a step-up in consumer spending. Inflation slowed; the price index for gross domestic purchases increased 1.8 percent after increasing 3.5 percent. Real disposable personal income slowed, increasing 2.0 percent after increasing 2.8 percent.

Corporate profits decreased $27.6 billion (2.4 percent at a quarterly rate) after increasing $8.3 billion. Net Federal Government saving was -$376.2 billion, increasing $3.8 billion from -$380.0 billion. Net state and local government saving was $8.5 billion, decreasing $9.8 billion from $18.3 billion. PDF

The NIPAs and the System of National Accounts

In recent years, BEA has been improving the consistency of the NIPAs with the internationally accepted set of guidelines for the compilation of national accounts in the System of National Accounts 1993 (SNA) as part of BEA's mission to produce accurate, relevant, and timely statistics, to respond to customers' needs, and to meet the challenges of measuring a changing economy. The organization and major features of the NIPAs are compared with those of the SNA. PDF

Federal Personal Income Tax Liabilities and Payments for 1959-2002

BEA's estimates of liabilities and payments have been updated to incorporate the results of the 2004 annual NIPA revision and the revised and newly available tax return data for 2002 from the Internal Revenue Service. For 2002, personal taxes on a liabilities basis were $31.0 billion less than taxes on a payments basis. This large difference partly reflected the retroactive provisions of the Job Creation and Worker Assistance Act of 2002 that resulted in a reduction in liabilities and in an overpayment of taxes. PDF

Subject Guide for 2004

This guide lists the major articles that were published in 2004 in the Survey. It includes the articles on the comprehensive revisions of the NIPAs, of the industry accounts, and of the regional accounts. PDF

Schedule of BEA News Releases in 2005 PDF

Looking Ahead

Annual Industry Accounts. The revised estimates from the annual industry accounts for 2001-2003 are scheduled to be published in the January Survey. These estimates incorporate the results of the 2004 annual NIPA revision. 

Gross State Product (GSP) by Industry. Accelerated estimates of total GSP for 2003, new NAICS-based estimates for 1998-2002, and revised SIC-based estimates for 1977-97 are scheduled to be published in the January Survey. 

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


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