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.

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