Income and profit are two measures of an industry's performance. Income of transportation industries declined 8.8 percent from the second quarter of 2000 through the fourth quarter of 2001 before a 3 percent increase over the first two quarters of 2002. Overall, the slowdown has caused transportation industries' profits to be negative (a loss) for three consecutive quarters for the first time since 1983.
|For-Hire Transportation Industries||Q1 02||Q2 02|
|Income (billions of dollars)||57.75||58.18|
|Income percent change from previous quarter||2.21||0.74|
|Profit (billions of dollars)||-0.13||-0.43|
|Profit percent change from previous quarter||(--)||(--)|
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; Sept. 27, 2002; available at: http://www.bea.doc.gov/bea/dn/nipaweb/AllTables.asp?Selected=N#S6; based on Survey of Current Business.