News Release

FOR WIRE TRANSMISSION: 10:00 A.M. EST, THURSDAY, DECEMBER 13, 2001
BEA 01-40

Input-Output Estimates, 1998




The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.
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Mark A. Planting (202) 606-5584                                 BEA 01-40


Annual Input-Output Accounts of the U.S. Economy, 1998


     The Bureau of Economic Analysis (BEA) today released the 1998 Input-Output (I-O) Accounts of
the U.S. economy.  The I-O accounts trace the flow of input commodities into the production processes of
industries, the flow of intermediate goods between industries, and the flow of output from industries to
final uses in the economy.  Gross Domestic Product (GDP) is defined as the sum of those final uses.

     The release of the I-O accounts for 1998 marks the third in the series of annual I-O
accounts beginning with those for 1996 which comprise a new program of higher-frequency I-O data
supplied by BEA.  These annual accounts are based on the 1992 benchmark I-O accounts, supplemented by
a wide range of more recent but less comprehensive data.  The benchmark accounts are prepared at 5-year
intervals and are based on detailed data from quinquennial economic censuses conducted by the Bureau of
the Census.  The 1997 benchmark accounts will be released in late 2002.

     The 1998 I-O accounts update the annual accounts for 1997.  The 1998 estimates show the
continued long term structural shift in the economy towards the use of services and  the rapid growth in
demand for fixed investment commodities, at more than twice the growth rate of the demand for all
commodities.

     The annual I-O accounts for 1998, like those for 1996 and 1997, provide estimates of the flows of
97 commodities through 94 intermediate industries and final uses, recognizable as the more familiar sectors
of GDP expenditures: Personal consumption expenditures, gross private domestic investment, change in
private inventories, exports, imports, and government consumption expenditures and gross investment.

     The1998 I-O accounts are presented in eight matrix tables that are available for free in compressed
files on BEA's Web site <www.bea.doc.gov>.  A summary table showing the basic input-output
relationships among nine industry groups and ten commodity groupings with income earned (or value
added) by industry groups 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.

     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 industry relationships from the accounts can be used to estimate the
relative impact of recent increases in defense spending or the impact of the September 11 attacks on
tourism commodities and their supplying industries.

     Additional information about the 1998 I-O accounts will appear in the December 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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Business; and BEA news releases are available without charge on BEA's Web site:

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    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, 1998
                          [Millions of dollars]



                                                Industries                                                                                                  Final Uses (GDP)
                                                                                         Transport-
                                                                                         ation,                                                            Personal      Gross                                         Government
                                                                                         commu-               Finance,                                     consump-      private                Exports    Imports     consumption
                                                                                         nication,            insurance,                       Total       tion          fixed     Changes in   of goods   of goods    expenditures             Total
                                               Agric-              Cons-     Manufac-    and                  and real                         interme-    expend-       invest-   private      and        and         and gross                Commodity
                                               ulture    Mining    truction  turing      utilities   Trade    estate      Services     Other   diate use   itures        ment      inventories  services   services    investment     GDP       Output

     Commodities
Agricultural products                           68,682       78     5,860     144,622        154      1,816     11,476     12,310        567    245,564     34,596                    1,236      19,563    -23,438       2,984      34,940     280,503
Minerals                                           368   31,478     7,368      81,722     52,354         31          6         32      3,061    176,417        105         956          387       6,961    -47,469        -180     -39,241     137,176
Construction                                     3,369    4,693       895      28,756     47,369     12,694     66,515     28,785     25,895    218,971                577,089                       78                210,040     787,208   1,006,179
Manufactured products                           49,395   14,510   299,429   1,380,590     70,485     68,005     19,318    340,944     17,593  2,260,269  1,078,057     587,174       41,694     523,300   -828,893     210,188   1,611,520   3,871,789
Transportation, communication, and Utilities    12,625   12,652    24,847     179,922    200,933     68,214     52,626    120,762     22,872    695,452    437,478      17,996        1,250      70,106    -15,367      74,784     586,248   1,281,700
Trade                                           13,948    3,498    81,671     230,668     15,081     32,685      4,925     68,036      2,646    453,157    873,411     112,475        5,127      70,298     19,586      22,215   1,103,110   1,556,267
Finance, insurance, and real estate             20,647   33,253    16,485      71,167     40,283    108,418    445,679    243,750      7,945    987,627  1,369,009      51,135                   73,154     -9,896      37,315   1,520,718   2,508,344
Services                                         8,998    5,851   103,708     240,141    144,495    219,223    191,363    530,971     13,585  1,458,335  2,010,510     166,967           25      38,456     -8,322       6,745   2,214,382   3,672,717
Other                                              166       29     1,076      13,826      3,306     11,226     28,196     24,713      3,034     85,574      5,119     -48,174       23,409      93,720     -5,783     963,760   1,032,052   1,117,626
Noncomparable imports                               64    1,872                22,929     21,939      7,722      8,553      5,189      1,144     69,413     47,744                                        -127,801      10,644     -69,413
Total intermediate inputs                      178,262  107,913   541,338   2,394,342    596,399    530,035    828,656  1,375,492     98,341  6,650,777
Value added                                    105,028   39,826   464,841   1,559,242    653,908  1,022,277  1,718,897  2,104,140  1,113,367                                                                                     8,781,523
Total industry output                          283,290  147,738 1,006,179   3,953,584  1,250,307  1,552,311  2,547,553  3,479,631  1,211,707              5,856,029  1,465,618       73,127     895,637  -1,047,382  1,538,494              15,432,301