Real gross domestic product (GDP) increased at an annual rate of 4.6 percent in the second quarter of 2014, after decreasing 2.1 percent in the first quarter. Both private goods- and services-producing industries contributed to the increase, while the government sector decreased.
- The leading contributors to the increase were durable-good manufacturing; finance and insurance; and retail trade.
- Durable-goods manufacturing real value added increased 8.0 percent in the second quarter, after decreasing 4.5 percent.
- Finance and insurance increased 6.0 percent, after decreasing 9.8 percent.
- Retail trade increased 7.2, after increasing 4.3 percent.