Income and profit are two measures of an industry's performance. Income of transportation industries declined 10.1 percent from the fourth quarter of 2000 through the fourth quarter of 2001 before a 2.4 percent increase in the first quarter of 2002. This slowdown has caused transportation industries' profits to be negative (a loss) for two consecutive quarters for the first time since the third and fourth quarters of 1990.
|For-Hire Transportation Industries||Q4 01||Q1 02|
|Income (billions of dollars)||55.70||57.05|
|Income percent change from previous quarter||-6.74||2.42|
|Profit (billions of dollars)||-1.73||-0.55|
|Profit percent change from previous quarter||(--)||(--)|
NOTES: For-hire transportation includes establishments providing passenger and freight transportation and related services on a fee basis to the general public or other business enterprises. For-hire does not include in-house transportation establishments within nontransportation enterprises, which provide transportation services for the enterprises' own use.
Income of a for-hire transportation industry is the difference between its revenue and the cost of its intermediate inputs (or goods and services consumed in providing transportation services). If an industry has no operations in foreign countries and its income comes entirely from its production activities (in contrast to, for example, financial activities), its income would be the same as its contribution to Gross Domestic Product.
SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis; National Income and Product Accounts data, Tables 6.1C and 6.16C; June 27, 2002; available at: http://www.bea.doc.gov/bea/dn/nipaweb/AllTables.asp?Selected=N#S6; based on Survey of Current Business.