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The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.
Also available: a brief summary of highlights.
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EMBARGOED FOR RELEASE: 10:30 A.M. EDT, THURSDAY, APRIL 17, 2003
Staff Contact: Brian C. Moyer: (202) 606-5307 BEA 03-11
Press Contact: Larry Moran: (202) 606-2649
Gross Domestic Product (GDP) by Industry for 2002:
Services-Producing Sector Leads Economic Rebound; Manufacturing Begins Recovery
Private services-producing industries led a broad-based economic rebound in 2002 as most industry
groups contributed to stronger growth in real GDP, according to a report released by the Bureau of Economic
Analysis (BEA) of the U.S. Department of Commerce. In 2002, real GDP growth increased to 2.4 percent
from 0.3 percent in 2001. Real GDP for private services-producing industries increased 2.8 percent in 2002.
For private goods-producing industries, it increased 1.3 percent (see table).
All five broad industry groups in the services-producing sector increased, led by retail trade, which
increased 5.9 percent. Electric, gas, and sanitary services, within the transportation and public utilities
industry group, and wholesale trade also increased sharply. Relatively slow growth was reported for finance,
insurance, and real estate. In addition, relatively slow growth in the services sub-group reflected
weakness in the business and professional services industries, which includes software production.
Within the goods-producing sector, all four broad industry groups increased. Manufacturing's
recovery (1.8 percent) was restrained by a slight drop in durable-goods manufacturing (-0.1 percent) caused by
weakness in the industries that produce information and communications technology equipment. Nondurable-
goods manufacturing increased 4.3 percent.
The GDP-by-industry estimates are value-added measures that are based on the NIPA estimates of
gross domestic income. They measure the contribution of each private industry and of government to the
Nation's GDP. The estimates of GDP by industry released today are for broad industry groups and are based
on an abbreviated methodology and limited source data. Release of these estimates in April--an acceleration
of seven months--is one of the goals outlined in BEA's Strategic Plan to provide more timely industry-
accounts data. Last June, BEA reported on its research to develop GDP-by-industry estimates on an
accelerated schedule and provided illustrative 2001 current-dollar estimates for industry groups. The
acceleration has been made possible by recent budget funding of this project.
More information about the GDP-by-industry estimates for 2002 will be available in the May issue of
the Survey of Current Business, BEA's monthly journal.
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>
Summary BEA estimates are available by telephone on recorded messages as follows: Gross
domestic product, (202) 606-5306; personal income and outlays, 606-5303; and U.S. international
transactions, 606-5362.
Table follows:
Percent Changes in Real Gross Domestic Product by Industry Group
average annual
rate of change
2000 2001 2002 1995-2000
Gross domestic product ... 3.8 0.3 2.4 4.0
Private industries............................ 3.9 0.4 2.5 4.6
Private goods-producing industries ... 3.6 -4.2 1.3 4.1
Agriculture, forestry, and fishing..... 7.9 -1.7 0.1 6.2
Mining................................. -11.2 4.8 1.4 -2.0
Construction........................... 2.8 -1.6 0.1 4.8
Manufacturing.......................... 4.7 -6.0 1.8 4.3
Durable goods...................... 10.0 -5.2 -0.1 7.9
Nondurable goods................... -2.2 -7.1 4.3 -0.4
Private services-producing industries ... 5.4 1.7 2.8 5.3
Transportation and public utilities.... 6.8 -0.2 3.9 4.3
Transportation..................... 5.2 -4.3 3.3 4.6
Communications..................... 12.3 12.3 3.2 7.2
Electric, gas, and sanitary service 2.4 -9.1 5.6 0.6
Wholesale trade........................ 5.9 -0.2 5.0 9.2
Retail trade........................... 7.5 4.6 5.9 7.2
Finance, insurance, and real estate.... 6.2 2.8 1.6 5.2
Services............................... 3.3 0.9 1.6 3.9
Government..................................... 2.6 1.7 1.9 1.4
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