Glossary | U.S. Bureau of Economic Analysis (BEA)

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id="main-content"></a> <div class="region region-content"> <section class="views-exposed-form block block-views block-views-exposed-filter-blockglossary-page-1 clearfix" data-drupal-selector="views-exposed-form-glossary-page-1" id="block-exposedformglossarypage-1" data-block-plugin-id="views_exposed_filter_block:glossary-page_1"> <h2 class="block-title">Glossary</h2> <form region="content" action="/help/glossary" method="get" id="views-exposed-form-glossary-page-1" accept-charset="UTF-8"> <div class="panel panel-form"> <div class="panel-body"> <label for="edit-title-1--2" class="control-label">A-Z:</label> <select data-drupal-selector="edit-title-1" class="form-select form-control" id="edit-title-1--2" name="title_1"><option value="All" selected="selected"> - Any - </option><option value="1"> A </option><option value="2"> B </option><option value="3"> C </option><option value="4"> D </option><option value="5"> E </option><option value="6"> F </option><option value="7"> G </option><option value="8"> H </option><option value="9"> I </option><option value="10"> J </option><option value="11"> K </option><option value="12"> L </option><option value="13"> M </option><option value="14"> N </option><option value="15"> O </option><option value="16"> P </option><option value="17"> Q </option><option value="18"> R </option><option value="19"> S </option><option value="20"> T </option><option value="21"> U </option><option value="22"> V </option><option value="23"> W </option><option value="24"> X </option><option value="25"> Y </option><option value="26"> Z </option></select> <div class="form-item js-form-item form-type-textfield js-form-type-textfield form-item-title js-form-item-title form-group"> <label for="edit-title--2" class="control-label">Search Glossary term: </label> <input data-drupal-selector="edit-title" class="form-text form-control" type="text" id="edit-title--2" name="title" value="" size="30" maxlength="128" /> </div> <div data-drupal-selector="edit-actions" class="form-actions form-group js-form-wrapper form-wrapper" id="edit-actions--2"><button data-drupal-selector="edit-submit-glossary-2" class="button js-form-submit form-submit btn-info btn" type="submit" id="edit-submit-glossary--2" value="Apply">Apply</button></div> </div> </div> </form> </section> <div class="views-element-container form-group"><div class="glossary-list view view-glossary view-id-glossary view-display-id-page_1 js-view-dom-id-539bd70e0d6257db20320db3872b28ab154ee3e87afee85998716b304cff411c"> <div class="view-header"> </div> <div class="view-content"> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/additive-additivity" hreflang="en">Additive, additivity</a></h2><div class="glossary-synopsis col-sm-8"><p>A characteristic of a measurement series whereby the summed components equal the aggregate.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/chained-dollar-estimate" hreflang="en">Chained-dollar estimate</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/advance-estimate" hreflang="en">Advance estimate</a></h2><div class="glossary-synopsis col-sm-8"><p>The first estimate of <a href="/help/glossary/gross-domestic-product-gdp">gross domestic product (GDP)</a> and its components for a quarter. It is released 25-30 days after the end of the quarter and is based on source data that are incomplete and subject to revision.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/final-estimate" hreflang="en">Final estimate</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/annual-input-output-i-o-accounts" hreflang="en">Annual input-output (I-O) accounts</a></h2><div class="glossary-synopsis col-sm-8"><p>Set of I-O tables—<a href="/help/glossary/make-table">make table</a>, <a href="/help/glossary/use-table">use table</a>, <a href="/help/glossary/direct-requirements-table">direct requirements table</a>, and <a href="/help/glossary/total-requirements-table">total requirements tables</a>—that are an update of the most recent benchmark I-O accounts. Annual tables are consistent with the <a href="/help/glossary/gross-domestic-product-gdp-industry-accounts">gross domestic product (GDP)-by-industry accounts</a>, but incorporate less comprehensive source data than those used for the benchmark I-O tables.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/input-output-i-o-accounts" hreflang="en">Input-output (I-O) accounts</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/balance-payments" hreflang="en">Balance of payments</a></h2><div class="glossary-synopsis col-sm-8"><p>Record of transactions between <a href="/help/glossary/us-residents">U.S. residents</a> and <a href="/help/glossary/foreign-residents">foreign residents</a> during a given time period. Includes transactions in goods, <a href="/help/glossary/services">services</a>, income, assets, and liabilities. It is broken down into the current accounts (international), <a href="/help/glossary/capital-account-international">capital accounts (international)</a>, and <a href="/help/glossary/financial-account-international">financial accounts (international)</a>.</p> </div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/balance-current-account" hreflang="en">Balance on current account</a></h2><div class="glossary-synopsis col-sm-8"><p>Record of net receipts or payments on goods, <a href="/help/glossary/services">services</a>, income, and <a href="/help/glossary/unilateral-current-transfers">unilateral current transfers</a>. Current transfers include U.S. government grants to foreign countries, <a href="/help/glossary/private-remittances">private remittances</a>, and other current transfers.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/balance-goods" hreflang="en">Balance on goods</a>, <a href="/help/glossary/balance-goods-and-services" hreflang="en">Balance on goods and services</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/balance-current-account-national-income-and-product-accounts" hreflang="en">Balance on current account, national income and product accounts</a></h2><div class="glossary-synopsis col-sm-8"><p><a href="/help/glossary/current-receipts-rest-world">Current receipts from the rest</a> of the world less <a href="/help/glossary/current-payments-rest-world">current payments to the rest of the world</a>, formerly called "net foreign investment." Current receipts equal <a href="/help/glossary/exports-goods-and-services">exports of goods and services</a> plus <a href="/help/glossary/income-receipts-rest-world">income receipts from the rest of the world</a>; current payments are the sum of <a href="/help/glossary/imports-goods-and-services">imports of goods and services</a>, <a href="/help/glossary/income-payments-rest-world">income payments to the rest of the world</a>, and <a href="/help/glossary/current-taxes-and-transfer-payments-rest-world">current taxes and transfer payments to the rest of the world</a> (net).</p> </div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/balance-goods" hreflang="en">Balance on goods</a></h2><div class="glossary-synopsis col-sm-8"><p>Record of the difference between exports of goods and imports of goods.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/balance-current-account" hreflang="en">Balance on current account</a>, <a href="/help/glossary/balance-goods-and-services" hreflang="en">Balance on goods and services</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/balance-goods-and-services" hreflang="en">Balance on goods and services</a></h2><div class="glossary-synopsis col-sm-8"><p>Record of the difference between <a href="/help/glossary/exports-goods-and-services">exports of goods and services</a> and <a href="/help/glossary/imports-goods-and-services">imports of goods and services</a>. In the broad sense, this balance is conceptually equal to <a href="/help/glossary/net-exports-goods-and-services">net exports of goods and services</a>, which is a component of <a href="/help/glossary/gross-domestic-product-gdp">gross domestic product (GDP)</a>.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/balance-current-account" hreflang="en">Balance on current account</a>, <a href="/help/glossary/balance-goods-and-services" hreflang="en">Balance on goods and services</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/base-period" hreflang="en">Base period</a></h2><div class="glossary-synopsis col-sm-8"><p>The period from which the weights for a measurement series are derived. </p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/chained-dollar-estimate" hreflang="en">Chained-dollar estimate</a>, <a href="/help/glossary/laspeyres-price-index" hreflang="en">Laspeyres price index</a>, <a href="/help/glossary/paasche-price-index" hreflang="en">Paasche price index</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/benchmark-input-output-i-o-accounts" hreflang="en">Benchmark input-output (I-O) accounts</a></h2><div class="glossary-synopsis col-sm-8"><p>Statistical description–presented in a <a href="/help/glossary/make-table">make table</a>, <a href="/help/glossary/use-table">use table</a>, <a href="/help/glossary/direct-requirements-table">direct requirements table</a>, and <a href="/help/glossary/total-requirements-table">total requirements tables</a>–of the production of goods and <a href="/help/glossary/services">services</a> and the transaction flows of goods and <a href="/help/glossary/services">services</a> between different industries and to different components of <a href="/help/glossary/final-uses">final uses</a>. These accounts are prepared every five years, coinciding with economic census years.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/annual-input-output-i-o-accounts" hreflang="en">Annual input-output (I-O) accounts</a>, <a href="/help/glossary/input-output-i-o-accounts" hreflang="en">Input-output (I-O) accounts</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/business-current-transfer-payments-net" hreflang="en">Business current transfer payments (net)</a></h2><div class="glossary-synopsis col-sm-8"><p>Net payments by businesses to <a href="/help/glossary/persons">persons</a>, government, and the rest of the world for which no current <a href="/help/glossary/services">services</a> are performed.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/business-current-transfer-payments-government-net" hreflang="en">Business current transfer payments to government (net)</a>, <a href="/help/glossary/business-current-transfer-payments-persons-net" hreflang="en">Business current transfer payments to persons (net)</a>, <a href="/help/glossary/business-current-transfer-payments-rest-world-net" hreflang="en">Business current transfer payments to the rest of the world (net)</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/business-current-transfer-payments-government-net" hreflang="en">Business current transfer payments to government (net)</a></h2><div class="glossary-synopsis col-sm-8"><p>Consists of payments to the Federal government in the form of premiums for deposit insurance, fees for regulatory and inspection activities, and fines; payments to state and local governments in the form of fines, tobacco settlements, and donations; and net insurance settlements paid to governments as policyholders.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/business-current-transfer-payments-net" hreflang="en">Business current transfer payments (net)</a>, <a href="/help/glossary/business-current-transfer-payments-persons-net" hreflang="en">Business current transfer payments to persons (net)</a>, <a href="/help/glossary/business-current-transfer-payments-rest-world-net" hreflang="en">Business current transfer payments to the rest of the world (net)</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/business-current-transfer-payments-persons-net" hreflang="en">Business current transfer payments to persons (net)</a></h2><div class="glossary-synopsis col-sm-8"><p>Consists of net insurance settlements and income payments by businesses to <a href="/help/glossary/persons">persons</a> for which no current <a href="/help/glossary/services">services</a> are performed.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/business-current-transfer-payments-net" hreflang="en">Business current transfer payments (net)</a>, <a href="/help/glossary/business-current-transfer-payments-government-net" hreflang="en">Business current transfer payments to government (net)</a>, <a href="/help/glossary/business-current-transfer-payments-rest-world-net" hreflang="en">Business current transfer payments to the rest of the world (net)</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/business-current-transfer-payments-rest-world-net" hreflang="en">Business current transfer payments to the rest of the world (net)</a></h2><div class="glossary-synopsis col-sm-8"><p>Net insurance settlements paid to the rest of the world as policyholders. Excludes taxes paid by domestic corporations to foreign governments.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/business-current-transfer-payments-net" hreflang="en">Business current transfer payments (net)</a>, <a href="/help/glossary/business-current-transfer-payments-government-net" hreflang="en">Business current transfer payments to government (net)</a>, <a href="/help/glossary/business-current-transfer-payments-persons-net" hreflang="en">Business current transfer payments to persons (net)</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/business-sector" hreflang="en">Business sector</a></h2><div class="glossary-synopsis col-sm-8"><p>All corporate and noncorporate private entities organized for profit and certain other entities that are treated as businesses in the <a href="/help/glossary/national-income-and-product-accounts-nipas">national income and product accounts (NIPAs)</a>, including mutual financial institutions, private noninsured pension funds, cooperatives, nonprofit organizations that primarily serve businesses, Federal Reserve banks, federally sponsored credit agencies, and <a href="/help/glossary/government-enterprises">government enterprises</a>.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/general-government-sector" hreflang="en">General government sector</a>, <a href="/help/glossary/households-and-institutions-sector" hreflang="en">Households and institutions sector</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/business-professional-and-technical-services-transactions-bpt" hreflang="en">Business, professional, and technical services transactions (BPT)</a></h2><div class="glossary-synopsis col-sm-8"><p>Transactions covering a wide range of private <a href="/help/glossary/services">services</a> sold to or purchased from foreigners, such as advertising, telecommunications, computer and data processing <a href="/help/glossary/services">services</a>, and accounting and legal <a href="/help/glossary/services">services</a>.</p> </div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/capital-account-international" hreflang="en">Capital account (international)</a></h2><div class="glossary-synopsis col-sm-8"><p>Record of capital transfers between <a href="/help/glossary/us-residents">U.S. residents</a> and <a href="/help/glossary/foreign-residents">foreign residents</a>, such as debt forgiveness and migrants' transfers, and acquisitions and disposals of nonproduced nonfinancial assets between residents and nonresidents.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/balance-payments" hreflang="en">Balance of payments</a>, <a href="/help/glossary/current-account-international" hreflang="en">Current account (international)</a>, <a href="/help/glossary/financial-account-international" hreflang="en">Financial account (international)</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/capital-consumption-adjustment-ccadj-private" hreflang="en">Capital consumption adjustment (CCAdj), (private)</a></h2><div class="glossary-synopsis col-sm-8"><p>The difference between private capital <a href="/help/glossary/capital-consumption-allowance-cca-private">consumption allowances (CCA)</a> and <a href="/help/glossary/consumption-fixed-capital-cfc">private consumption of fixed capital (CFC)</a>.</p> </div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/capital-consumption-allowance-cca-private" hreflang="en">Capital consumption allowance (CCA), (private)</a></h2><div class="glossary-synopsis col-sm-8"><p>Consists of tax-return-based depreciation charges for corporations and nonfarm proprietorships and of historical-cost depreciation (calculated by BEA) for farm proprietorships, <a href="/help/glossary/rental-income-persons-capital-consumption-adjustment">rental income of persons</a>, and nonprofit institutions.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/capital-consumption-adjustment-ccadj-private" hreflang="en">Capital consumption adjustment (CCAdj), (private)</a>, <a href="/help/glossary/consumption-fixed-capital-cfc" hreflang="en">Consumption of fixed capital (CFC)</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/capital-expenditures" hreflang="en">Capital expenditures</a></h2><div class="glossary-synopsis col-sm-8"><p>Expenditures made to acquire, add to, or improve property, plant, and equipment (PP&E). PP&E includes: land, timber, and minerals; <a href="/help/glossary/structures">structures</a>, machinery, equipment, special tools, and other depreciable property; construction in progress; and tangible and intangible exploration and development costs. Changes in PP&E due to changes in entity-such as mergers, acquisitions, and divestitures-or to changes in accounting methods are excluded. Capital expenditures are measured on a gross basis; sales and other dispositions of <a href="/help/glossary/fixed-assets">fixed assets</a> are not netted against them.</p> </div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/capital-flows-table" hreflang="en">Capital flows table</a></h2><div class="glossary-synopsis col-sm-8"><p>Table that expands the <a href="/help/glossary/fixed-investment">fixed investment</a> component of the input-output (I-O) <a href="/help/glossary/use-table">use table</a> to show the types of new equipment, new <a href="/help/glossary/structures">structures</a>, and software used by each industry.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/input-output-i-o-accounts" hreflang="en">Input-output (I-O) accounts</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/capital-transfers-rest-world-net" hreflang="en">Capital transfers to the rest of the world (net)</a></h2><div class="glossary-synopsis col-sm-8">Cash or in-kind transfers to foreigners that are linked to the acquisition or disposition of a fixed asset.</div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/chained-dollar-estimate" hreflang="en">Chained-dollar estimate</a></h2><div class="glossary-synopsis col-sm-8"><p>A measure used to approximate the <a href="/help/glossary/chained-type-index">chained-type index</a> level and is calculated by taking the <a href="/help/glossary/current-dollar-estimate">current-dollar</a> level of a series in the <a href="/help/glossary/base-period">base period</a> and multiplying it by the change in the chained-type quantity index number for the series since the <a href="/help/glossary/base-period">base period</a>. Chained-dollar estimates correctly show growth rates for a series, but are not <a href="/help/glossary/additive-additivity">additive</a> in periods other than the <a href="/help/glossary/base-period">base period</a>.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/chained-type-index" hreflang="en">Chained-type index</a>, <a href="/help/glossary/current-dollar-estimate" hreflang="en">Current-dollar estimate</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/chained-type-index" hreflang="en">Chained-type index</a></h2><div class="glossary-synopsis col-sm-8"><p>Index that is based on the linking (chaining) of indexes to create a time series. Annual chained-type Fisher indices are used in BEA's <a href="/help/glossary/national-income-and-product-accounts-nipas">national income and product accounts (NIPAs)</a> whereby Fisher ideal price indices are calculated using the weights of adjacent years. Those annual changes are then multiplied (chained) together, forming the chained-type index time series.</p> </div><div class="glossary-related-terms col-sm-4 pull-right"><span class="label-related-terms">Related terms</span><a href="/help/glossary/chained-dollar-estimate" hreflang="en">Chained-dollar estimate</a>, <a href="/help/glossary/current-dollar-estimate" hreflang="en">Current-dollar estimate</a></div></div> <div class="card card-glossary clearfix"><h2 class="glossary-term"><a href="/help/glossary/change-private-inventories" hreflang="en">Change in private inventories</a></h2><div class="glossary-synopsis col-sm-8"><p>The change in the physical volume of inventories owned by private business, valued at the average prices of the period. It differs from the change in the book value of inventories reported by many businesses; the difference is the <a href="/help/glossary/inventory-valuation-adjustment-iva">inventory valuation adjustment (IVA)</a>.</p> </div></div> </div> <nav class="pager-nav text-center" role="navigation" aria-labelledby="pagination-heading"> <h4 id="pagination-heading" class="sr-only"> Pagination </h4> <ul class="pagination js-pager__items"> <li class="pager__item is-active active"> <a href="?page=0" title="Current page"> <span class="sr-only"> Current page of </span> <span aria-hidden="true">1</span> </a> </li> <li class="pager__item"> <a href="?page=1" title="Go to page 2"> <span class="sr-only"> Go to page 2 of 0 of </span> <span aria-hidden="true">2</span> </a> </li> <li class="pager__item"> <a href="?page=2" title="Go to page 3"> <span class="sr-only"> Go to page 3 of 0 of </span> <span aria-hidden="true">3</span> </a> </li> <li class="pager__item"> <a href="?page=3" title="Go to page 4"> <span 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url("/sites/default/files/logo-youtube-600-white.png"); } .footer-links-toolbar.page-top{ text-align: center; background-color: rgba(0,0,0,0.15); border-radius: 4px; } .footer-links-toolbar.page-top [class*="footer-icon-social"] a { color: rgba(0,0,0,1) !important; } </style> </div> </section> </div> </footer> </div> <script type="application/json" data-drupal-selector="drupal-settings-json">{"path":{"baseUrl":"\/","scriptPath":null,"pathPrefix":"","currentPath":"help\/glossary","currentPathIsAdmin":false,"isFront":false,"currentLanguage":"en"},"pluralDelimiter":"\u0003","suppressDeprecationErrors":true,"data":{"extlink":{"extTarget":false,"extTargetNoOverride":false,"extNofollow":false,"extNoreferrer":false,"extFollowNoOverride":false,"extClass":"ext","extLabel":"(link is external)","extImgClass":false,"extSubdomains":true,"extExclude":"\\.gov","extInclude":"","extCssExclude":"","extCssExplicit":"","extAlert":true,"extAlertText":"This page provides links to non-BEA web sites that 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