Real gross domestic product (GDP) decreased at an annual rate of 2.9 percent in the first quarter of 2014. Both private services- and goods-producing industries contributed to the decrease, while the government sector increased slightly.
- Overall, 16 of 22 industry groups contributed to the decrease in U.S. economic activity. The leading contributors to the decrease were durable-goods manufacturing; wholesale trade; and agriculture, forestry, fishing, and hunting.
Real GDP turned down in the first quarter, declining 2.9 percent after an increase of 2.6 percent in the fourth quarter of 2013.
- Overall, 19 out of 22 industry groups contributed to the downturn in the percent change in real GDP. The leading contributors to the downturn were wholesale trade; professional, scientific, and technical services; and durable-goods manufacturing.
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