Note: For ease of printing, the table accompanying this release is available in Adobe Acrobat (PDF) format.

Mark A. Planting (202) 606-5584 BEA 00-37

Interindustry Relationships in the U.S. Economy:

New Annual Input-Output Estimates for 1997

With today’s release of input-output account estimates for 1997, the Bureau of Economic Analysis has delivered the second year of estimates from its new annual input-output program. With these estimates, BEA has expanded its input-output information from a frequency of once every 5 years to once a year, while reducing the lag between the year measured and the estimate released from five years to three. The input-output accounts present a detailed picture of how industries interact; specifically, they show how industries provide input to, and use output from, each other to produce gross domestic product (GDP).

These accounts can be used to analyze changes in GDP and the effects of these changes on different parts of the economy. For example, the accounts can be used to estimate the effects of a strike or a natural disaster on the economy and, supplemented with additional information, the effects of an increase in U.S. exports on employment. The accounts can also be used as the basis for developing other economic statistics on particular aspects of the economy, such as the role of transportation services and of travel and tourism.

The input-output accounts for 1997 are presented in eight matrix tables that are available for free in compressed files on BEA’s Web site. A summary table showing the basic input-output relationships among nine industry aggregates and nine commodity groupings with income earned (or value added) by industry aggregate is provided below. The tables on BEA’s Web site present detailed estimates for 94 industries and 97 commodities. Information on how to access these files is also provided below.

The annual accounts for 1997 update the 1996 annual accounts, released last year, and the 1992 benchmark accounts released earlier. Compared with the 1992 and 1996 accounts, the 1997 estimates show further rapid growth of the use of commodities frequently associated with high technology -- computers, electronics, communication, and data processing services. Benchmark accounts are based on detailed data from the economic censuses that are conducted every 5 years by the Bureau of the Census; annual accounts are based on less comprehensive source data.

Additional information about the annual input-output accounts for 1997 will appear in the January 2001 issue of the Survey of Current Business, BEA’s monthly journal. Information on how to obtain the Survey of Current Business is provided below.

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BEA’s major national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site:

<www.bea.doc.gov>

STAT-USA maintains an Internet site that contains BEA estimates, the Survey of Current Business, and BEA news releases. The information available through STAT-USA is often more detailed and more timely than that available from other sources. For information about STAT-USA, go to <www.stat-usa.gov> or call (202) 482-1986. Subscriptions for single-user unlimited access to STAT-USA’s Internet information are $75.00 for 3 months or $175.00 for 1 year.

Most of BEA’s estimates and analyses appear in the Survey of Current Business, BEA’s monthly journal. Subscriptions and single copies of the printed Survey are for sale by the Superintendent of Documents, U.S. Government Printing Office. Internet:<bookstore.gpo.gov>; phone: 202-512-1800; fax: 202-512-2250; mail: Stop SSOP, Washington, DC 20402-0001.

The Use of Commodities by Industries, 1997

[Millions of dollars]