Archive for the 'GDP by Industry' Category



Widespread Growth Across Industries in 2012

Professional and business services; finance, insurance, real estate, rental, and leasing; mining; and manufacturing were the leading contributors to U.S. economic growth in 2012, according to revised statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.gdp_indy1

• Professional, scientific, and technical services increased 4.2 percent in 2012, primarily reflecting strong growth in computer systems design and related services.

• Mining value added rose 14.0 percent in 2012 after increasing 9.9 percent in 2011, reflecting strong growth for oil and gas extraction.

GDP prices modestly decelerated in 2012, increasing 1.7 percent after increasing 2.0 percent in 2011.gdp_indy2

• Value-added prices for the private goods-producing sector decelerated in 2012, increasing 1.8 percent after increasing 6.0 percent in 2011. Mining was the leading contributor to the deceleration in the GDP price index for 2012.

• Value-added prices for the private services-producing sector increased 2.2 percent in 2012 after increasing 1.2 percent in 2011, reflecting accelerated growth in prices for real estate and rental and leasing.

For more, read the full report.

Durable-Goods Manufacturing Led Growth in 2012

gdp_indy1Durable-goods manufacturing, finance and insurance, and wholesale trade services were the leading contributors to U.S. economic growth in 2012, according to advance statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.

  • Manufacturing value added rose 6.2 percent after increasing 2.5 percent in 2011. Durable-goods manufacturing led the growth in 2012, increasing 9.1 percent.
  • The services-producing sector grew 2.4 percent, matching the 2011 growth rate. The leading contributors to the increase were finance and insurance services and wholesale trade services, which increased 3.6 percent and 4.8 percent, respectively.

GDP prices decelerated, increasing 1.8 percent in 2012 after increasing 2.1 percent in 2011.

  • gdp_indy2Value-added prices for the private goods-producing sector decelerated in 2012, increasing 0.9 percent after increasing 5.6 percent in 2011. Nondurable-goods manufacturing was the leading contributor to the deceleration in the GDP price index for 2012.
  • Value-added prices for the private services-producing sector increased 1.7 percent in 2012 after increasing 1.5 percent in 2011, reflecting accelerated growth in prices for finance and insurance and for professional, scientific, and technical services.

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

Growth in Goods and Services Industries Slowed in 2011

Retail trade and durable goods manufacturing were the leading contributors to the deceleration in U.S. economic growth in 2011, according to revised statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.

  • Annual Growth in Real GDPThe services-producing sector grew 2.4 percent in 2011 after increasing 2.7 percent in 2010. Retail trade was the largest contributor to the deceleration, increasing 0.2 percent in 2011, after increasing 7.0 percent in 2010.
  • Manufacturing value added decelerated, increasing 2.5 percent in 2011, after increasing 6.9 percent in 2010. Durable goods manufacturing increased 6.8 percent, after increasing 13.3 percent in 2010, primarily
    reflecting a slowdown in computer and electronic products manufacturing.

Growth in value added prices accelerated, increasing 2.1 percent in 2011 after increasing 1.3 percent in 2010.

  • Annual Growth in PricesValue added prices for the private goods-producing sector increased 5.6 percent in 2011, reflecting upturns in prices in manufacturing and construction. Nondurable goods prices led the growth in 2011, increasing 9.8 percent.
  • Value added prices for the private services-producing sector accelerated in 2011, increasing 1.5 percent after increasing 1.0 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.

For more information, read the full report.