Thursday, December 16, 2004
Tweet[IWS] BEA: U.S. International Transactions: Third Quarter 2004 [16 December 2004]
IWS Documented News Service
_______________________________
Institute for Workplace Studies Professor Samuel B. Bacharach
School of Industrial & Labor Relations Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor Stuart Basefsky
New York, NY 10016 Director, IWS News Bureau
________________________________________________________________________
U.S. International Transactions: Third Quarter 2004 [16 December 2004]
http://www.bea.gov/bea/newsrelarchive/2004/trans304.htm
or
http://www.bea.gov/bea/newsrelarchive/2004/trans304.pdf
[full-text, 7 pages]
or
http://www.bea.gov/bea/newsrelarchive/2004/trans304.xls
[spreadsheet]
The U.S. current-account deficit--the combined balances on trade in
goods and services, income, and net unilateral current transfers--increased
slightly to $164.7 billion in the third quarter of 2004 (preliminary) from
$164.4 billion (revised) in the second quarter. An increase in the deficit on
goods and a decrease in the surplus on services offset a decrease in net
outflows for unilateral current transfers and an increase in the surplus on
income.
Goods and services
The deficit on goods and services increased to $155.3 billion in the
third quarter from $151.1 billion in the second.
Goods
The deficit on goods increased to $166.7 billion in the third quarter
from $163.6 billion in the second quarter.
Goods exports increased to $204.6 billion from $199.3 billion. The
increase was mostly attributable to increases in industrial supplies and
materials, in automotive vehicles, engines, and parts, and in capital goods.
Goods imports increased to $371.3 billion from $362.9 billion.
Increases in petroleum and petroleum products, in nonpetroleum industrial
supplies and materials, and in capital goods more than offset a decrease in
consumer goods.
Services
The surplus on services decreased to $11.4 billion in the third quarter
from $12.5 billion in the second.
Services receipts increased to $85.0 billion from $84.7 billion. The
largest increases were in royalties and license fees, in "other" transportation
(such as freight and port services), and in travel.
Services payments increased to $73.6 billion from $72.2 billion. The
largest increases were in royalties and license fees, in "other"
transportation, in travel, and in passenger fares.
Income
The surplus on income increased to $5.3 billion in the third quarter
from $5.0 billion in the second.
Investment income
Income receipts on U.S.-owned assets abroad increased to $92.1 billion
from $87.7 billion. The increase was mostly accounted for by increases in
"other" private receipts (which consists of interest and dividends) and in
direct investment receipts.
Income payments on foreign-owned assets in the United States increased
to $85.4 billion from $81.1 billion. "Other" private payments, U.S. Government
payments, and direct investment payments all increased.
Compensation of employees
Receipts for compensation of U.S. workers abroad increased slightly to
$0.8 billion from $0.7 billion, and payments for compensation of foreign
workers in the United States decreased slightly to $2.2 billion from
$2.3 billion.
AND MUCH MORE...including TABLES....
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky *
Director, IWS News Bureau *
Institute for Workplace Studies *
Cornell/ILR School *
16 E. 34th Street, 4th Floor *
New York, NY 10016 *
*
Telephone: (607) 255-2703 *
Fax: (607) 255-9641 *
E-mail: smb6@cornell.edu *
****************************************
_______________________________
Institute for Workplace Studies
School of Industrial & Labor Relations
Cornell University
16 East 34th Street, 4th floor
New York, NY 10016
________________________________________________________________________
U.S. International Transactions: Third Quarter 2004 [16 December 2004]
http://www.bea.gov/bea/newsrelarchive/2004/trans304.htm
or
http://www.bea.gov/bea/newsrelarchive/2004/trans304.pdf
[full-text, 7 pages]
or
http://www.bea.gov/bea/newsrelarchive/2004/trans304.xls
[spreadsheet]
The U.S. current-account deficit--the combined balances on trade in
goods and services, income, and net unilateral current transfers--increased
slightly to $164.7 billion in the third quarter of 2004 (preliminary) from
$164.4 billion (revised) in the second quarter. An increase in the deficit on
goods and a decrease in the surplus on services offset a decrease in net
outflows for unilateral current transfers and an increase in the surplus on
income.
Goods and services
The deficit on goods and services increased to $155.3 billion in the
third quarter from $151.1 billion in the second.
Goods
The deficit on goods increased to $166.7 billion in the third quarter
from $163.6 billion in the second quarter.
Goods exports increased to $204.6 billion from $199.3 billion. The
increase was mostly attributable to increases in industrial supplies and
materials, in automotive vehicles, engines, and parts, and in capital goods.
Goods imports increased to $371.3 billion from $362.9 billion.
Increases in petroleum and petroleum products, in nonpetroleum industrial
supplies and materials, and in capital goods more than offset a decrease in
consumer goods.
Services
The surplus on services decreased to $11.4 billion in the third quarter
from $12.5 billion in the second.
Services receipts increased to $85.0 billion from $84.7 billion. The
largest increases were in royalties and license fees, in "other" transportation
(such as freight and port services), and in travel.
Services payments increased to $73.6 billion from $72.2 billion. The
largest increases were in royalties and license fees, in "other"
transportation, in travel, and in passenger fares.
Income
The surplus on income increased to $5.3 billion in the third quarter
from $5.0 billion in the second.
Investment income
Income receipts on U.S.-owned assets abroad increased to $92.1 billion
from $87.7 billion. The increase was mostly accounted for by increases in
"other" private receipts (which consists of interest and dividends) and in
direct investment receipts.
Income payments on foreign-owned assets in the United States increased
to $85.4 billion from $81.1 billion. "Other" private payments, U.S. Government
payments, and direct investment payments all increased.
Compensation of employees
Receipts for compensation of U.S. workers abroad increased slightly to
$0.8 billion from $0.7 billion, and payments for compensation of foreign
workers in the United States decreased slightly to $2.2 billion from
$2.3 billion.
AND MUCH MORE...including TABLES....
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 2:33 PM
