EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, THURSDAY, APRIL 26, 2012 Technical: Edward Morgan (202) 606-9541 BEA 12-16 Media: Ralph Stewart (202) 606-2649 Durable-Goods Manufacturing Led Growth in 2011 Advance GDP by Industry Statistics for 2011 Durable-goods manufacturing, professional, scientific, and technical services, and information services were the leading contributors to U.S. economic growth in 2011, according to advance statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis. Overall, 15 of 22 industry groups contributed to the 1.7 percent increase in real GDP. • Real manufacturing value added—a measure of an industry’s contribution to GDP— rose 4.3 percent in 2011, after increasing 11.2 percent in 2010. Durable-goods manufacturing, the largest contributor to overall growth, increased 7.9 percent, after increasing 17.0 percent in 2010. Nondurable-goods manufacturing rose 0.3 percent in 2011, after increasing 5.1 percent in 2010. • Professional, scientific, and technical services increased 4.9 percent in 2011, matching the 2010 growth rate. • Information services, which includes publishing and telecommunications, accelerated in 2011, increasing 5.1 percent after increasing 3.0 percent in 2010. Prices: Value added prices accelerated in 2011, increasing 2.1 percent after increasing 1.2 percent in 2010. Retail trade and nondurable-goods were among the largest contributors to the acceleration in the GDP price index for 2011. Value added prices measure changes in an industry’s unit costs of capital and labor inputs, as well as the profits per unit of output, and reflect the productivity of capital and labor used by the industry. • Value added prices for the goods-producing sector accelerated in 2011, increasing 5.5 percent after increasing 1.5 percent in 2010. Value added prices for the services-producing sector also accelerated in 2011, increasing 1.7 percent after increasing 0.7 percent in 2010. • Value added prices for retail trade turned up in 2011, increasing 1.6 percent after decreasing 4.0 percent in 2010. • Value added prices for real estate and rental and leasing turned up in 2011, increasing 1.9 percent in 2011, after decreasing 1.0 percent in 2010. Other highlights: • Manufacturing’s current-dollar share of GDP increased for the second consecutive year, to 12.2 percent, its highest share since 2006, and reflected increases in both durable and nondurable-goods manufacturing. • Mining value added turned up in 2011, increasing 6.4 percent after decreasing 6.1 percent in 2010. • Real value added for the utilities sector turned down in 2011, decreasing 6.2 percent after increasing 3.3 percent in 2010. BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. * * * Table 1. Real Value Added by Industry Group [Percent change] 2008 2009 2010 2011 Gross domestic product…………………………………………………………………………………… -0.3 -3.5 3.0 1.7 Private industries…………………………………………………………………………………………………… -1.0 -4.4 3.6 1.8 Agriculture, forestry, fishing, and hunting…………………………… 8.7 10.8 -3.1 -12.4 Mining……………………………………………………………………………………………………………………………… -3.8 20.9 -6.1 6.4 Utilities……………………………………………………………………………………………………………………… 4.6 -11.4 3.3 -6.2 Construction……………………………………………………………………………………………………………… -6.6 -12.9 -3.2 -0.3 Manufacturing…………………………………………………………………………………………………………… -5.8 -9.4 11.2 4.3 Durable goods……………………………………………………………………………………………………… -1.6 -14.9 17.0 7.9 Nondurable goods………………………………………………………………………………………………-10.9 -2.7 5.1 0.3 Wholesale trade……………………………………………………………………………………………………… -1.1 -13.5 3.9 3.3 Retail trade……………………………………………………………………………………………………………… -5.7 -2.4 10.1 2.0 Transportation and warehousing……………………………………………………………… 0.9 -12.0 3.5 0.3 Information………………………………………………………………………………………………………………… 1.7 -3.6 3.0 5.1 Finance, insurance, real estate, rental, and leasing…… -0.7 1.1 -0.2 -0.8 Finance and insurance………………………………………………………………………………… -6.5 6.8 6.6 1.8 Real estate and rental and leasing……………………………………………… 2.8 -1.9 -4.4 -2.6 Professional and business services…………………………………………………… 3.9 -6.9 3.8 4.2 Professional, scientific, and technical services………… 5.2 -7.0 4.9 4.9 Management of companies and enterprises………………………………… 2.0 -2.4 -4.4 2.0 Administrative and waste management services…………………… 1.7 -9.5 6.4 3.7 Educational services, health care, and social assistance………………………………………………………………………………………………………… 4.6 1.0 2.8 2.1 Educational services…………………………………………………………………………………… 2.3 0.8 0.2 -0.9 Health care and social assistance………………………………………………… 5.0 1.0 3.2 2.6 Arts, entertainment, recreation, accommodation, and food services………………………………………………………………………………………………… -5.1 -7.6 7.8 3.3 Arts, entertainment, and recreation…………………………………………… -5.8 -3.8 6.5 3.3 Accommodation and food services……………………………………………………… -4.8 -8.8 8.2 3.3 Other services, except government……………………………………………………… -4.2 -5.1 2.1 -0.2 Government………………………………………………………………………………………………………………………… 1.8 0.9 0.6 -0.5 Federal…………………………………………………………………………………………………………………………… 2.7 3.7 3.2 0.7 State and local……………………………………………………………………………………………………… 1.4 -0.4 -0.7 -1.0 Addenda: Private goods-producing industries/1/…………………………………………… -5.1 -6.4 5.6 2.5 Private services-producing industries/2/…………………………………… 0.2 -3.9 3.0 1.6 Information-communications-technology-producing industries/3/………………………………………………………………………………………………… 6.1 1.7 14.7 6.9 /1/ Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. /2/ Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. /3/ Consists of computer and electronic products within durable-goods manufacturing; publishing industries (includes software) and information and data processing services within information; and computer systems design and related services within professional, scientific, and technical services. Source: U.S. Bureau of Economic Analysis Table 2. Contributions to Percent Change in Real GDP by Industry Group 2008 2009 2010 2011 Gross domestic product/1/…………………………………………………………………………… -0.3 -3.5 3.0 1.7 Private industries……………………………………………………………………………………………………-0.87 -3.82 3.07 1.52 Agriculture, forestry, fishing, and hunting…………………………… 0.09 0.10 -0.03 -0.15 Mining………………………………………………………………………………………………………………………………-0.08 0.37 -0.10 0.11 Utilities……………………………………………………………………………………………………………………… 0.08 -0.22 0.06 -0.11 Construction………………………………………………………………………………………………………………-0.30 -0.55 -0.12 -0.01 Manufacturing……………………………………………………………………………………………………………-0.71 -1.09 1.23 0.50 Durable goods………………………………………………………………………………………………………-0.10 -0.95 0.96 0.49 Nondurable goods………………………………………………………………………………………………-0.60 -0.14 0.27 0.01 Wholesale trade………………………………………………………………………………………………………-0.06 -0.81 0.21 0.18 Retail trade………………………………………………………………………………………………………………-0.36 -0.14 0.60 0.12 Transportation and warehousing……………………………………………………………… 0.03 -0.36 0.10 0.01 Information………………………………………………………………………………………………………………… 0.08 -0.16 0.13 0.22 Finance, insurance, real estate, rental, and leasing……-0.15 0.23 -0.05 -0.17 Finance and insurance…………………………………………………………………………………-0.51 0.49 0.53 0.15 Real estate and rental and leasing……………………………………………… 0.36 -0.25 -0.58 -0.32 Professional and business services…………………………………………………… 0.47 -0.86 0.46 0.52 Professional, scientific, and technical services………… 0.38 -0.54 0.36 0.37 Management of companies and enterprises………………………………… 0.04 -0.04 -0.08 0.04 Administrative and waste management services…………………… 0.05 -0.28 0.18 0.11 Educational services, health care, and social assistance………………………………………………………………………………………………………… 0.35 0.08 0.24 0.18 Educational services…………………………………………………………………………………… 0.02 0.01 0.00 -0.01 Health care and social assistance………………………………………………… 0.33 0.07 0.24 0.19 Arts, entertainment, recreation, accommodation, and food services…………………………………………………………………………………………………-0.20 -0.29 0.29 0.13 Arts, entertainment, and recreation……………………………………………-0.06 -0.03 0.06 0.03 Accommodation and food services………………………………………………………-0.14 -0.25 0.23 0.10 Other services, except government………………………………………………………-0.10 -0.12 0.05 0.00 Government………………………………………………………………………………………………………………………… 0.22 0.12 0.08 -0.06 Federal…………………………………………………………………………………………………………………………… 0.11 0.15 0.14 0.03 State and local……………………………………………………………………………………………………… 0.12 -0.03 -0.06 -0.09 Addenda: Private goods-producing industries/2/……………………………………………-1.00 -1.18 0.97 0.45 Private services-producing industries/3/…………………………………… 0.13 -2.64 2.09 1.07 Information-communications-technology-producing industries/4/………………………………………………………………………………………………… 0.25 0.07 0.62 0.31 /1/ The estimates of gross domestic product under the contributions columns are percent changes. /2/ Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. /3/ Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. /4/ Consists of computer and electronic products within durable-goods manufacturing; publishing industries (includes software) and information and data processing services within information; and computer systems design and related services within professional, scientific, and technical services. Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because the contribution of the "Not allocated by industry" line is excluded. Source: U.S. Bureau of Economic Analysis Table 3. Chain-Type Price Indexes for Value Added by Industry Group [Percent change] 2008 2009 2010 2011 Gross domestic product…………………………………………………………………………………… 2.2 1.1 1.2 2.1 Private industries…………………………………………………………………………………………………… 2.4 1.1 0.9 2.5 Agriculture, forestry, fishing, and hunting…………………………… 1.4 -20.7 15.7 29.2 Mining……………………………………………………………………………………………………………………………… 30.3 -44.7 19.6 12.9 Utilities……………………………………………………………………………………………………………………… -0.9 13.2 -0.7 0.9 Construction……………………………………………………………………………………………………………… 0.6 1.3 -2.5 2.0 Manufacturing…………………………………………………………………………………………………………… 1.9 4.4 -0.7 3.5 Durable goods……………………………………………………………………………………………………… -2.3 4.0 -2.4 0.3 Nondurable goods……………………………………………………………………………………………… 7.2 5.0 1.3 7.4 Wholesale trade……………………………………………………………………………………………………… 2.0 7.9 -0.1 2.6 Retail trade……………………………………………………………………………………………………………… 1.4 1.1 -4.0 1.6 Transportation and warehousing……………………………………………………………… 1.6 7.2 -0.7 3.8 Information………………………………………………………………………………………………………………… -1.5 0.2 -1.6 1.1 Finance, insurance, real estate, rental, and leasing…… 2.8 0.5 1.7 0.8 Finance and insurance………………………………………………………………………………… 3.2 -1.2 6.0 -0.6 Real estate and rental and leasing……………………………………………… 2.6 1.4 -1.0 1.9 Professional and business services…………………………………………………… 1.1 1.1 2.3 2.2 Professional, scientific, and technical services………… 2.0 1.0 1.1 1.9 Management of companies and enterprises………………………………… 0.1 -3.1 10.8 5.0 Administrative and waste management services…………………… -0.6 4.2 0.6 1.2 Educational services, health care, and social assistance………………………………………………………………………………………………………… 2.4 3.9 2.2 1.7 Educational services…………………………………………………………………………………… 4.6 5.4 3.9 4.8 Health care and social assistance………………………………………………… 2.1 3.6 2.0 1.2 Arts, entertainment, recreation, accommodation, and food services………………………………………………………………………………………………… 3.1 4.3 -0.4 2.0 Arts, entertainment, and recreation…………………………………………… 2.4 2.1 0.5 0.3 Accommodation and food services……………………………………………………… 3.3 5.0 -0.7 2.6 Other services, except government……………………………………………………… 4.1 4.8 2.5 3.5 Government………………………………………………………………………………………………………………………… 3.5 2.7 1.9 1.9 Federal…………………………………………………………………………………………………………………………… 2.4 1.8 2.6 2.1 State and local……………………………………………………………………………………………………… 4.0 3.1 1.6 1.8 Addenda: Private goods-producing industries/1/…………………………………………… 4.2 -4.4 1.5 5.5 Private services-producing industries/2/…………………………………… 1.9 2.6 0.7 1.7 Information-communications-technology-producing industries/3/………………………………………………………………………………………………… -3.9 -1.3 -3.4 -2.2 /1/ Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. /2/ Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. /3/ Consists of computer and electronic products within durable-goods manufacturing; publishing industries (includes software) and information and data processing services within information; and computer systems design and related services within professional, scientific, and technical services. Source: U.S. Bureau of Economic Analysis Table 4. Contributions to Percent Change in the GDP Price Index by Industry Group 2008 2009 2010 2011 Gross domestic product/1/…………………………………………………………………………… 2.2 1.1 1.2 2.1 Private industries…………………………………………………………………………………………………… 2.09 0.93 0.78 2.16 Agriculture, forestry, fishing, and hunting…………………………… 0.02 -0.24 0.15 0.29 Mining……………………………………………………………………………………………………………………………… 0.54 -1.13 0.29 0.22 Utilities………………………………………………………………………………………………………………………-0.02 0.23 -0.01 0.02 Construction……………………………………………………………………………………………………………… 0.03 0.05 -0.09 0.07 Manufacturing…………………………………………………………………………………………………………… 0.22 0.49 -0.07 0.42 Durable goods………………………………………………………………………………………………………-0.15 0.24 -0.14 0.02 Nondurable goods……………………………………………………………………………………………… 0.37 0.25 0.07 0.40 Wholesale trade……………………………………………………………………………………………………… 0.12 0.43 -0.01 0.14 Retail trade……………………………………………………………………………………………………………… 0.08 0.06 -0.25 0.10 Transportation and warehousing……………………………………………………………… 0.05 0.20 -0.02 0.10 Information…………………………………………………………………………………………………………………-0.07 0.01 -0.07 0.05 Finance, insurance, real estate, rental, and leasing…… 0.58 0.10 0.35 0.17 Finance and insurance………………………………………………………………………………… 0.24 -0.09 0.48 -0.05 Real estate and rental and leasing……………………………………………… 0.34 0.19 -0.13 0.22 Professional and business services…………………………………………………… 0.14 0.13 0.28 0.27 Professional, scientific, and technical services………… 0.15 0.07 0.08 0.14 Management of companies and enterprises………………………………… 0.00 -0.06 0.18 0.09 Administrative and waste management services……………………-0.02 0.12 0.02 0.03 Educational services, health care, and social assistance………………………………………………………………………………………………………… 0.19 0.32 0.19 0.15 Educational services…………………………………………………………………………………… 0.05 0.06 0.04 0.05 Health care and social assistance………………………………………………… 0.14 0.26 0.15 0.09 Arts, entertainment, recreation, accommodation, and food services………………………………………………………………………………………………… 0.12 0.16 -0.01 0.08 Arts, entertainment, and recreation…………………………………………… 0.02 0.02 0.00 0.00 Accommodation and food services……………………………………………………… 0.10 0.14 -0.02 0.07 Other services, except government……………………………………………………… 0.10 0.11 0.06 0.09 Government………………………………………………………………………………………………………………………… 0.45 0.35 0.26 0.26 Federal…………………………………………………………………………………………………………………………… 0.10 0.07 0.12 0.09 State and local……………………………………………………………………………………………………… 0.35 0.28 0.14 0.16 Addenda: Private goods-producing industries/2/…………………………………………… 0.80 -0.83 0.27 1.00 Private services-producing industries/3/…………………………………… 1.28 1.76 0.51 1.16 Information-communications-technology-producing industries/4/…………………………………………………………………………………………………-0.17 -0.05 -0.16 -0.10 /1/ The estimates of gross domestic product under the contributions columns are percent changes. /2/ Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. /3/ Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. /4/ Consists of computer and electronic products within durable-goods manufacturing; publishing industries (includes software) and information and data processing services within information; and computer systems design and related services within professional, scientific, and technical services. Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because the contribution of the "Not allocated by industry" line is excluded. Source: U.S. Bureau of Economic Analysis Table 5. Value Added by Industry Group as a Percentage of GDP [Percent] 2008 2009 2010 2011 Gross domestic product……………………………………………………………………………………100.0 100.0 100.0 100.0 Private industries…………………………………………………………………………………………………… 87.0 86.2 86.4 86.8 Agriculture, forestry, fishing, and hunting…………………………… 1.1 1.0 1.1 1.2 Mining……………………………………………………………………………………………………………………………… 2.2 1.5 1.6 1.9 Utilities……………………………………………………………………………………………………………………… 1.8 1.9 1.8 1.7 Construction……………………………………………………………………………………………………………… 4.3 3.9 3.5 3.4 Manufacturing…………………………………………………………………………………………………………… 11.4 11.0 11.7 12.2 Durable goods……………………………………………………………………………………………………… 6.3 5.7 6.3 6.6 Nondurable goods……………………………………………………………………………………………… 5.1 5.3 5.4 5.6 Wholesale trade……………………………………………………………………………………………………… 5.8 5.5 5.5 5.6 Retail trade……………………………………………………………………………………………………………… 5.9 6.0 6.1 6.1 Transportation and warehousing……………………………………………………………… 2.9 2.8 2.8 2.8 Information………………………………………………………………………………………………………………… 4.5 4.4 4.3 4.4 Finance, insurance, real estate, rental, and leasing…… 20.4 21.3 20.7 19.9 Finance and insurance………………………………………………………………………………… 7.3 7.9 8.5 8.3 Real estate and rental and leasing……………………………………………… 13.1 13.4 12.2 11.6 Professional and business services…………………………………………………… 12.5 12.0 12.3 12.6 Professional, scientific, and technical services………… 7.7 7.4 7.5 7.8 Management of companies and enterprises………………………………… 1.8 1.8 1.8 1.9 Administrative and waste management services…………………… 2.9 2.8 2.9 2.9 Educational services, health care, and social assistance………………………………………………………………………………………………………… 8.1 8.7 8.8 8.7 Educational services…………………………………………………………………………………… 1.0 1.1 1.1 1.1 Health care and social assistance………………………………………………… 7.0 7.6 7.6 7.6 Arts, entertainment, recreation, accommodation, and food services………………………………………………………………………………………………… 3.8 3.7 3.8 3.9 Arts, entertainment, and recreation…………………………………………… 0.9 0.9 1.0 1.0 Accommodation and food services……………………………………………………… 2.8 2.8 2.9 2.9 Other services, except government……………………………………………………… 2.4 2.4 2.5 2.4 Government………………………………………………………………………………………………………………………… 13.0 13.8 13.6 13.2 Federal…………………………………………………………………………………………………………………………… 4.1 4.4 4.5 4.4 State and local……………………………………………………………………………………………………… 8.9 9.4 9.1 8.8 Addenda: Private goods-producing industries/1/…………………………………………… 19.0 17.5 18.0 18.7 Private services-producing industries/2/…………………………………… 68.0 68.7 68.5 68.1 Information-communications-technology-producing industries/3/………………………………………………………………………………………………… 4.2 4.3 4.6 4.6 /1/ Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. /2/ Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. /3/ Consists of computer and electronic products within durable-goods manufacturing; publishing industries (includes software) and information and data processing services within information; and computer systems design and related services within professional, scientific, and technical services. Source: U.S. Bureau of Economic Analysis