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Annual input-output accounts of the U.S. economy, 1982.

Annual Input-Output Accounts of the U.S. Economy, 1982 THIS article presents the annual input-output (I-O) accounts for 1982. These accounts are consistent definitionally with the 1977 benchmark I-O accounts as modified by the comprehensive revision of the national income and product accounts (NIPA's) released in December 1985. The annual accounts were prepared using basically the same procedures as used in the 1977 benchmark accounts, but with less comprehensive and reliable source data.

The 1982 annual I-O estimates of final demand--that is, estimates of GNP components--are consistent definitionally with the NIPA's, but differ from the NIPA estimates for that year because the former incorporate additional source data and are based on different estimating methods. For the major GNP components, these differences are shown in table A. For personal consumption expenditures, the difference is mainly due to the methods used to prepare the estimates of goods. The I-O estimates are based on the commodity-flow method; the NIPA estimates are based primarily on the retail-control method. For gross private domestic investment, the difference is mainly due to improved estimates of business purchases of computers. For net exports of goods and services, the difference reflects the incorporation of recent revisions to BEA's international transactions accounts.

The steps used to prepare the 1982 annual I-O accounts are the same as those used to prepare the 1980 and 1981 annual accounts, although the source data and estimating methods used for the 1982 accounts differed somewhat. These differences primarily affected the determination of the industry and commodity output totals. For manufacturing, data from the 1982 Census of Manufacturers were used to estimate commodity and industry output totals. For 1980 and 1981, the annual survey of manufactures, current industrial reports, and 1977 benchmark relationships were used. For wholesale and retail trade, gross margins from 1982 Census Bureau annual surveys were used. For 1980 and 1981, gross margins were not available from these surveys and were calculated using 1977 markup rates. For nonmerchant wholesalers, receipts data from the 1982 Census of Wholesale Trade were used. For 1980 and 1981, these receipts were estimated using 1977 relationships. For services, receipts for selected industries from the 1982 Census of Service Industries for zero-employee firms were used. For 1980 and 1981, these receipts were estimated using 1977 relationships. For agriculture, transportation, and banking, new data already developed for the 1982 benchmark accounts were used. When these benchmark I-O accounts are completed, additional economic census data on materials consumed, secondary products, operating expenses, and other detail will be included.

The 1982 annual I-O accounts, at the two-digit industry/commodity level, are presented in five tables: (1) Use table, (2) make table, (3) commodity-by-industry direct requirements table, (4) commodity-by-commodity total requirements table, and (5) industry-by-commodity total requirements table. The structure of these tables is identical to those published for the 85 industry/commodity benchmark I-O accounts except that, in tables 1 and 3, the components of value added are not shown. This article presents only tables 1 and 2. See the box for information about the availability of the other tables.
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Publication:Survey of Current Business
Date:Apr 1, 1988
Words:508
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