November 13, 2014
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.
- The leading contributors to the increase were durable-good manufacturing; finance and insurance; and retail trade.
- Durable-goods manufacturing real value added increased 8.0 percent in the second quarter, after decreasing 4.5 percent.
- Finance and insurance increased 6.0 percent, after decreasing 9.8 percent.
- Retail trade increased 7.2, after increasing 4.3 percent.