Gross Domestic Product by Industry, Third Quarter 2019
Nondurable goods manufacturing; retail trade; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the third quarter of 2019, according to gross domestic product (GDP) by industry statistics released by the Bureau of Economic Analysis. Both private services- and goods-producing industries contributed to the increase; the government sector increased slightly. Overall, 17 of 22 industry groups contributed to the 2.1 percent increase in real GDP in the third quarter.
- For the nondurable goods manufacturing industry group, real value added—a measure of an industry’s contribution to GDP—increased 10.1 percent in the third quarter, after decreasing 0.3 percent in the second quarter. The third-quarter growth primarily reflected increases in petroleum and coal products and chemical products manufacturing.
- Retail trade increased 8.2 percent, after increasing 0.2 percent. The third-quarter growth primarily reflected an increase in other retail, which includes nonstore retailers, gasoline stations, and food and beverage stores.
- Professional, scientific, and technical services increased 5.6 percent, after increasing 7.4 percent. The third-quarter growth primarily reflected an increase in miscellaneous professional, scientific, and technical services, which includes consulting as well as accounting and tax preparation services.
- Real GDP accelerated slightly to 2.1 percent in the third quarter, up from 2.0 percent in the second quarter. The acceleration primarily reflected upturns in wholesale trade and nondurable goods manufacturing, and an acceleration in retail trade.
- Information services increased 5.6 percent, after increasing 4.4 percent. The third-quarter growth primarily reflected increases in publishing as well as in broadcasting and telecommunications.
- Accommodation and food services increased 5.5 percent, after decreasing 1.8 percent, primarily reflecting increases in food services and drinking places.
Gross output by industry
Real gross output—principally a measure of an industry’s sales or receipts, which includes sales to final users in the economy (GDP) and sales to other industries (intermediate inputs)—increased 2.5 percent in the third quarter. This reflected increases of 3.1 percent for the private services-producing sector, 1.6 percent for the private goods-producing sector, and 1.2 percent for the government sector. Overall, 16 of 22 industry groups contributed to the increase in real gross output.
- Real gross output for nondurable goods manufacturing increased 6.7 percent in the third quarter, after increasing 1.0 percent in the second quarter, primarily reflecting chemical products.
- Information increased 6.3 percent, after increasing 6.4 percent, primarily reflecting increases in data processing, internet publishing, and other information services.
- Educational services increased 3.0 percent, after decreasing 0.2 percent.
Next release – April 6, 2020 at 8:30 A.M. EDT for:
Gross Domestic Product by Industry: Fourth Quarter and Annual 2019