Archive for the 'GDP by Industry' Category

The New Way to Find Industry Data Fast

industry-icons-for-blog-sized (2)

Interested in industries? Our newest data tool shows you BEA’s statistics about an industry, pulled together in one place.

Industry Facts starts with a printable one-page overview of your industry of choice. There’s also a data table with more statistics and a longer time span, plus options for digging deeper into the numbers.

Industry Facts features an industry’s:

  • Gross output, the total market value of the goods or services it produces.
  • Value added (also known as GDP by industry), which is the value added in the production process; it excludes the value of intermediate inputs, such as raw materials.
  • Intermediate inputs, the raw materials and other goods and services the industry uses in its production.

The Industry Facts tool is a handy shortcut for businesspeople, government officials, researchers, students or anyone who wants to focus on specific industries within BEA’s expansive data.

Wondering which industries are driving the nation’s growth? The Industry Facts main page shows the top six contributors to real gross domestic product in the most recent data available. Hover over one of those six industry icons to see the industry’s contribution to GDP. Or click on the icon to go to that industry’s overview.

You can also get started by choosing your industry of interest — such as construction, finance and insurance, or retail trade — from the dropdown list at the top left of the main page. You’ll get an overview with current-dollar estimates and rates of change, adjusted for inflation, for both gross output and value added. Charts make it easy to spot trends over eight quarters of data. Click the PDF button to print this one-page report.

Need more info? Go to the industry’s Data Table tab for additional statistics, including intermediate inputs, and price indexes for value added, gross output, and intermediate inputs. The table shows the most recent 10 quarters of data available.

Need a longer time frame? The Modify button lets you select your start and end years. It also gives you the option of limiting the types of data shown.

Ready to save or analyze your new table? Use the Download button to export your data in Excel or CSV format.

Want to visualize your data? Click the Chart button to create a customized line chart with data you choose. Within the chart, you can use the circular icon to download your chart as an image file or to save the chart’s data.

Industry Facts includes 31 categories of industries. Twenty-two of these are core groupings from BEA’s GDP by industries statistics (some are North American Industry Classification System sectors and some are BEA’s own groupings). The other nine categories are aggregates. For a description of what’s included in an industry category, see the top of its Overview page.

For further exploration, such as comparing output across different industries, follow the links within an Industry Facts data table to the broader sets of statistics in BEA’s interactive data tables.

If you’re looking for the Industry Facts tool in the future, remember you can find it on the bea.gov homepage in the Factsheets section. (Click on Industry GDP.) You can also find Industry Facts at the top of bea.gov’s industry page.

Want to learn even more about an industry or its goods or services? You might want to visit other parts of BEA’s interactive data tables, as well. For example, you can explore consumer spending by type of product in the personal consumption expenditure tables. The input-output tables show interactions with other industries. Or you can research international trade and investment related to your industry.

Have questions or comments about Industry Facts or need help finding BEA’s industry data? Contact industryeconomicaccounts@bea.gov.

Finance and Insurance Led Growth in the Fourth Quarter

Finance and insurance; retail trade; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2016. Overall, 19 of 22 industry groups contributed to the 2.1 percent increase in real GDP in the fourth quarter.

GDP By industry April 21 2017

  • Finance and insurance increased 6.3 percent in the fourth quarter, after increasing 9.0 percent in the third quarter.
  • Retail trade increased 5.7 percent, after increasing 2.6 percent.
  • Professional, scientific, and technical services increased 3.6 percent, after increasing 2.6 percent.

Real Value Added by Industry April 21 2017

For more information, read the full report.

Industry in Focus: Construction on the Rise

Although the U.S. economy has changed considerably over time, construction is an industry that’s maintained its importance. We no longer depend on telegraphs as we once did, but we’ll always need a place to live. Construction also is an industry in which the products can differ to a great degree. While cellphones may be quite similar to one another, office buildings take shapes ranging from the Empire State Building to a one-story structure in the suburbs. Moreover, the construction industry is unusually sensitive to regional and seasonal differences. Buildings in Chicago, Honolulu and Anchorage can look quite different from each other, and the amount of time that can be spent building in those cities differs as well.

In the first quarter of this year, construction was the largest contributor to the U.S. economy’s growth of 1.1 percent. Construction contributed 0.36 percentage point to inflation-adjusted, or real, GDP growth. The industry’s growth in real value added accelerated to 9.0%, after increasing 7.6% in the previous quarter.  Construction has expanded for six consecutive quarters, and when you compare construction’s performance since the beginning of 2015 with industries that may get more attention in the news (such as two of our previous Industry in Focus subjects, information and health care), you see the construction industry has performed well (see the blue bar in the chart below).  Charts like these are just one of the many tools you can create automatically using BEA’s interactive data retrieval application, iTables.

Price changes in chain-type july 21


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