News Release
Gross Domestic Product (GDP) by Industry for 2001
This entire release is available in PDF format for easier printing;
the tables are available in an XLS spreadsheet.
Technical Contact: Brian C. Moyer; (202) 606-5307 BEA 02-34
Press Contact: Larry Moran; (202) 606-2649
Gross Domestic Product (GDP) by Industry for 2001:
Continued Growth in Service Sector Despite
Significant Declines in Manufacturing
The 2001 economic slowdown was mild by historical standards because of strong growth
in real GDP for private services-producing industries that helped to offset
sharp declines in real GDP for private goods-producing industries, according
to a report released by the Bureau of Economic Analysis (BEA) of the U.S.
Department of Commerce. In 2001, real GDP for private services-producing
industries increased 1.7 percent, while private goods-producing industries
dropped 4.2 percent, primarily reflecting a 6.0-percent drop in manufacturing (table 1).
Real GDP grew 0.3 percent in 2001, though growth rates varied widely among industries.
Growth was led by such large private services-producing industries as communications (12.3
percent); retail trade (4.6 percent); finance, insurance, and real estate (FIRE) (2.8 percent); and
services (0.9 percent).
Declines, particularly in the manufacturing industries, were steep. Durable-goods
manufacturing decreased 5.2 percent, and nondurable-goods manufacturing decreased 7.1
percent.
Growth rates in some industries--mainly in services but also some in manufacturing--
remained strong, partly reflecting reductions in unit labor costs and unit capital costs achieved by
increases in productivity.
Other highlights of the newly released estimates include:
Real GDP growth decelerated for several services-producing industries in 2001, but
remained relatively strong. Growth in retail trade decelerated to 4.6 percent in 2001 from
7.5 percent in 2000, FIRE decelerated to 2.8 percent from 6.2 percent, and services
decelerated to 0.9 percent from 3.3 percent. Growth in communications was 12.3 percent
in both 2001 and 2000.
Within FIRE, double-digit growth was reported for nondepository institutions (including
credit-card companies, motor vehicle finance leasing companies, and mortgage banking
firms) and for security and commodity brokers (table 2).
Performance of information technology (IT)-related industries was mixed in 2001. Real
GDP in the industrial machinery and equipment industry and in the instruments and
related products industry decreased sharply. In contrast, real GDP in the communications
industry and in the electronic and other electric equipment industry increased strongly; in
the face of falling prices in both industries and falling demand in the electronic and other
electric equipment industry, these industries were able to lower their unit labor costs and
unit capital costs by increases in productivity, and thus, they were able to increase their
real GDP (value-added) growth.
Declines in real GDP in the transportation-by-air industry and in the hotels and other
lodging places industry lowered overall real GDP growth by 0.1 percentage point, partly
reflecting sharp reductions in business air travel and tourism-related services after the
terrorist attacks on September 11, 2001.
The GDP-by-Industry estimates are value-added measures that are based on the NIPA
components of Gross Domestic Income. They are used to measure the contribution of each
private industry and of government to the Nation's GDP. BEA prepares estimates of GDP by
Industry for 62 private industries and for 4 government classifications including Federal general
government, Federal government enterprises, State and local general government, and State and
local government enterprises.
The GDP-by-Industry Accounts provide annual estimates. They include estimates of
current-dollar and real GDP by Industry, gross output by industry, and intermediate inputs by
industry. In addition, they include estimates of prices, unit costs, and contributions by industry.
These data are available on BEA's Web site:
<www.bea.gov/industry/index.htm>
More information about the GDP-by-Industry Accounts can be found in the November 2002
issue of the Survey of Current Business, BEA's monthly journal. Information on how to obtain
the Survey of Current Business is provided below.
* * *
BEA's major national, international, regional, and industry estimates; the Survey of
Current Business; and BEA news releases are available without charge on BEA's Web site:
<www.bea.gov>
STAT-USA maintains an Internet site that contains BEA estimates, the Survey of Current
Business, and BEA news releases. For information about STAT-USA, go to <www.stat-
usa.gov> or call (202) 482-1986. Subscriptions for single-user unlimited access to STAT-USA's
Internet information are $75.00 for 3 months or $175.00 for 1 year.
Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
monthly journal. Subscriptions and single copies of the printed Survey are for sale by the
Superintendent of Documents, U.S. Government Printing Office. Internet: <bookstore.gpo.gov>;
phone: (202) 512-1800; fax: (202) 512-2250; mail: Stop SSOP, Washington, DC 20402-0001.
* * *
Table 1.--Percent Changes in Real Gross Domestic Product by Industry Group
average annual
rate of change
1999 2000 2001 1995-2000
Gross domestic product ... 4.1 3.8 0.3 4.0
Private industries............................. 4.8 3.9 0.4 4.6
Private goods-producing industries ... 4.6 3.6 -4.2 4.1
Agriculture, forestry, and fishing..... 6.3 7.9 -1.7 6.2
Mining................................. -4.2 -11.2 4.8 -2.0
Construction........................... 5.4 2.8 -1.6 4.8
Manufacturing.......................... 4.8 4.7 -6.0 4.3
Durable goods...................... 6.3 10.0 -5.2 7.9
Nondurable goods................... 2.8 -2.2 -7.1 -0.4
Private services-producing industries ... 5.0 5.4 1.7 5.3
Transportation and public utilities.... 7.2 6.8 -0.2 4.3
Transportation..................... 4.1 5.2 -4.3 4.6
Communications..................... 10.4 12.3 12.3 7.2
Electric, gas, and sanitary service 7.8 2.4 -9.1 0.6
Wholesale trade........................ 6.8 5.9 -0.2 9.2
Retail trade........................... 5.8 7.5 4.6 7.2
Finance, insurance, and real estate.... 4.1 6.2 2.8 5.2
Services............................... 4.1 3.3 0.9 3.9
Government..................................... 1.3 2.6 1.7 1.4
Table 2.--Percent Changes in Real Gross Domestic Product by Industry
Average annual
rate of change
Line 1999 2000 2001 1995-2000
1 Gross domestic product 4.1 3.8 0.3 4.0
2 Private industries 4.8 3.9 0.4 4.6
3 Private goods-producing industries 4.6 3.6 -4.2 4.1
4 Agriculture, forestry, and fishing 6.3 7.9 -1.7 6.2
5 Farms 7.8 11.5 -5.1 7.1
6 Agricultural services, forestry, an 4.0 3.0 3.1 4.8
7 Mining -4.2 -11.2 4.8 -2.0
8 Metal mining 16.8 -11.3 19.9 7.6
9 Coal mining 13.3 -12.3 17.5 3.3
10 Oil and gas extraction -8.3 -14.0 3.4 -4.5
11 Nonmetallic minerals, except fuels -1.4 14.0 1.1 6.1
12 Construction 5.4 2.8 -1.6 4.8
13 Manufacturing 4.8 4.7 -6.0 4.3
14 Durable goods 6.3 10.0 -5.2 7.9
15 Lumber and wood products 1.9 2.3 -6.8 0.1
16 Furniture and fixtures 3.5 1.7 -7.4 3.1
17 Stone, clay, and glass products 2.1 -0.6 -8.9 2.5
18 Primary metal industries 4.6 -1.6 -4.6 2.5
19 Fabricated metal products 1.2 5.2 -10.2 2.5
20 Industrial machinery and equipment 5.5 20.6 -10.7 14.8
21 Electronic and other electric equip 18.2 25.1 7.5 19.4
22 Motor vehicles and equipment 3.0 2.0 -7.5 2.6
23 Other transportation equipment 9.0 -2.0 2.5 4.1
24 Instruments and related products -3.0 7.1 -9.6 -0.6
25 Miscellaneous manufacturing industr 10.0 14.5 -9.1 6.1
26 Nondurable goods 2.8 -2.2 -7.1 -0.4
27 Food and kindred products 7.5 -7.7 -4.1 -3.6
28 Tobacco products -42.8 -9.8 -19.2 -17.0
29 Textile mill products -4.7 0.8 -10.7 -2.2
30 Apparel and other textile products -9.2 1.5 -4.2 -3.6
31 Paper and allied products -0.1 -5.3 -6.4 0.4
32 Printing and publishing 5.7 -0.4 -10.3 0.2
33 Chemicals and allied products 3.5 1.4 -3.1 1.9
34 Petroleum and coal products 33.3 -15.1 -17.9 2.2
35 Rubber and miscellaneous plastics p 3.6 6.3 -7.1 5.5
36 Leather and leather products -16.4 12.6 -14.4 -7.3
37 Private services-producing industri 5.0 5.4 1.7 5.3
38 Transportation and public utilities 7.2 6.8 -0.2 4.3
39 Transportation 4.1 5.2 -4.3 4.6
40 Railroad transportation -2.0 11.8 0.0 1.9
41 Local and interurban passenger tran 8.5 2.4 0.0 5.5
42 Trucking and warehousing 4.9 3.2 -3.9 3.6
43 Water transportation -8.9 12.0 -0.9 3.5
44 Transportation by air 5.1 5.1 -7.7 6.2
45 Pipelines, except natural gas 3.2 -2.3 -6.1 5.0
46 Transportation services 7.3 8.5 -3.6 6.7
47 Communications 10.4 12.3 12.3 7.2
48 Telephone and telegraph 13.2 15.3 12.3 9.9
49 Radio and television 2.3 3.8 12.4 -0.6
50 Electric, gas, and sanitary service 7.8 2.4 -9.1 0.6
51 Wholesale trade 6.8 5.9 -0.2 9.2
52 Retail trade 5.8 7.5 4.6 7.2
53 Finance, insurance, and real estate 4.1 6.2 2.8 5.2
54 Depository institutions 7.2 4.5 1.1 3.5
55 Nondepository institutions 14.1 20.7 16.4 18.8
56 Security and commodity brokers 7.1 24.0 13.1 23.2
57 Insurance carriers -1.5 9.7 -3.2 2.4
58 Insurance agents, brokers, and serv 5.4 -5.0 3.1 0.8
59 Real estate 3.9 3.5 0.5 3.6
60 Nonfarm housing services 4.0 2.7 0.4 2.2
61 Other real estate 3.9 5.8 0.9 7.6
62 Holding and other investment office -34.9 36.9 65.6 6.8
63 Services 4.1 3.3 0.9 3.9
64 Hotels and other lodging places 1.9 6.1 -4.1 1.8
65 Personal services -0.3 -1.2 0.7 1.9
66 Business services 9.5 2.3 -0.1 7.9
67 Auto repair, services, and parking 8.9 3.7 3.2 5.2
68 Miscellaneous repair services -7.9 5.0 -15.2 -1.4
69 Motion pictures 1.0 -2.1 5.8 3.4
70 Amusement and recreation services -2.3 0.0 -1.5 2.7
71 Health services 2.1 3.7 2.7 1.9
72 Legal services 3.4 5.2 2.9 2.1
73 Educational services 2.1 2.6 3.9 1.8
74 Social services 3.0 4.0 4.1 2.6
75 Membership organizations -0.4 -0.6 -2.6 -0.5
76 Other services 4.8 5.5 1.2 5.7
77 Private households -11.6 2.2 -15.6 -0.4
78 Government 1.3 2.6 1.7 1.4
79 Federal -0.3 2.5 -1.2 0.0
80 General government -0.4 1.5 0.7 -0.7
81 Government enterprises 0.0 7.4 -9.9 3.6
82 State and local 2.1 2.7 3.1 2.0
83 General government 1.7 2.4 2.7 1.9
84 Government enterprises 6.0 6.5 7.2 3.2