Manufacturing Led Growth In 2011

Durable-goods manufacturing, professional, scientific, and technical services, and information services were the leading contributors to U.S. economic growth in 2011, according to advance statistics on the breakout of real gross domestic product (GDP) by industry from the U.S. Bureau of Economic Analysis.

  • Manufacturing “value added”—total output minus the value of intermediate products—rose 4.3 percent after increasing 11.2 percent in 2010. Durable-goods manufacturing led the growth in 2011, increasing 7.9 percent.
  • The services-producing sector grew 1.6 percent after increasing 3.0 percent in 2010. Professional, scientific, and technical services was the largest contributor, increasing 4.9 percent. Information services accelerated, increasing 5.1 percent after increasing 3.0 percent in 2010.

Value added prices accelerated, increasing 2.1 percent in 2011 after increasing 1.2 percent in 2010.

  • Value added prices for the private goods-producing sector increased 5.5 percent in 2011, reflecting upturns in prices in manufacturing and construction. Nondurable-goods prices led the growth in 2011, increasing 7.4 percent.
  • Value added prices for the private services-producing sector accelerated in 2011, increasing 1.7 percent after increasing 0.7 percent in 2010. An upturn in retail trade prices was one of the largest contributors to the acceleration in the GDP price index for 2011.

To learn more about GDP by industry, read the full report.



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