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[IWS] BEA: REVISED STATISTICS OF GDP BY INDUSTRY: 1997 THROUGH FIRST QTR. 2014 [13 November 2014]
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Widespread Growth Across Industries in Second Quarter 2014
Revised Statistics of Gross Domestic Product by Industry: 1997 through First Quarter 2014 [13 November 2014]
[full-text, 10 pages]
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. Durable‐goods manufacturing; finance and insurance; and retail trade were the leading contributors.
· Durable‐goods manufacturing real value added—a measure of an industry's contribution to GDP—increased 8.0 percent in the second quarter, after decreasing 4.5 percent in the first quarter.
· Finance and insurance increased 6.0 percent, after decreasing 9.8 percent.
· Retail trade increased 7.2 percent, after increasing 4.3 percent.
· Real value added for agriculture, forestry and fishing turned up in the second quarter, increasing 14.2 percent following a decrease of 44.3 percent. This industry group was the second leading contributor to the upturn in real GDP.
· The 8.0 percent increase in durable-goods manufacturing, which includes motor vehicle manufacturing and computer and electronic products manufacturing, was the largest increase since the fourth quarter of 2011.
· Mining increased 11.5 percent, following a decrease of 7.5 percent. This was the largest increase since the fourth quarter of 2011.
2013 GDP by industry
· Real GDP increased 2.2 percent in 2013, with 20 of 22 industry groups contributing to the increase. Finance and insurance; real estate and rental and leasing; and information were the leading contributors.
· Finance and insurance increased 4.6 percent in 2013, after increasing 4.2 percent. This was the third consecutive annual increase.
· The real estate and rental and leasing group increased 1.6 percent, reflecting an increase in housing.
· Information services increased 4.4 percent in 2013, after increasing 1.7 percent. This was the largest increase since 2008.
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