Downturns in durable-goods manufacturing and finance and insurance and a continued contraction in construction were the leading contributors to the downturn in U.S. economic growth in 2009, according to preliminary statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis. The economic downturn was widespread: 15 of 22 industry groups contributed to the decline in real GDP growth.

• Manufacturing value addeda measure of an industrys contribution to GDPfell 5.9 percent in 2009, a sharper decline than the 3.6 percent drop in 2008. Durable-goods manufacturing turned down for the first time since 2001, decreasing 7.5 percent after growing 0.3 percent in 2008. Nondurable-goods manufacturing fell 3.8 percent, a slower decline than the 8.2 percent drop in 2008.
• Construction value added fell 9.9 percent in 2009, reflecting declines in residential and nonresidential activity. Construction contracted for the fifth consecutive year.
• Finance and insurance value added dropped 2.7 percent in 2009, after increasing 3.2 percent in 2008.

Prices:

Declines in value added prices for mining and agriculture and a sharp deceleration in prices for nondurable-goods manufacturing were the largest contributors to the slowdown in the GDP price index for 2009. Value added prices measure changes in an industrys labor and capital input prices, including profit margins.

• Value added prices for mining fell sharply in 2009, decreasing 27.4 percent after increasing 26.4 percent in 2008, primarily reflecting decreases in prices for petroleum.
• Value added prices for agriculture industries fell 20.1 percent in 2009, after increasing 1.4 percent in 2008, primarily reflecting decreases in prices for crops and livestock.
• Growth in value added prices for finance and insurance and real estate partially offset the sharp declines in prices for mining and agriculture.