Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

BEA - Bureau of Economic Analysis : Revised Statistics of Gross Domestic Product by Industry, 2009-2011

11/13/2012 | 09:21am US/Eastern
Growth in Goods and Services Industries Slowed in 2011
Revised Statistics of Gross Domestic Product by Industry for 2009-2011

Retail trade and durable goods manufacturing were the leading contributors to the deceleration in U.S. economic growth in 2011, according to revised statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis. Real GDP growth slowed in 2011, increasing 1.8 percent after increasing 2.4 percent in 2010.  The revised statistics do not change the general picture of the economy: 12 of 22 industry groups contributed to the slowdown in real GDP. 

  • Retail trade real value added-a measure of an industry's contribution to GDP-rose 0.2 percent in 2011, after increasing 7.0 percent in 2010.
  • Durable goods manufacturing increased 6.8 percent, after increasing 13.3 percent in 2010, primarily reflecting a slowdown in computer and electronic products manufacturing. 
  • Nondurable goods manufacturing turned down in 2011, decreasing 2.1 percent after increasing 0.4 percent in 2010, primarily reflecting a downturn in food, beverage, and tobacco manufacturing.

Prices:

Value added prices accelerated in 2011, increasing 2.1 percent after increasing 1.3 percent in 2010. Nondurable goods manufacturing and retail trade were 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 and reflect the productivity of capital and labor used by the industry.

  • Value added prices for the goods-producing sector accelerated in 2011, increasing 5.6 percent after increasing 1.8 percent in 2010. Value added prices for the services-producing sector also accelerated, increasing 1.5 percent after increasing 1.0 percent in 2010.
  • Value added prices for nondurable goods manufacturing accelerated in 2011, increasing 9.8 percent after increasing 1.0 percent in 2010, reflecting an acceleration in petroleum and coal products manufacturing.
  • Value added prices for retail trade turned up in 2011, increasing 3.2 percent after decreasing 3.3 percent in 2010, reflecting an upturn in retail margin prices.

Other highlights:

  • Overall, 15 of 22 industry groups contributed to the increase in real GDP.  Durable goods manufacturing-reflecting strong growth in motor vehicle manufacturing, and professional, scientific and technical services were the leading contributors to growth.
  • Manufacturing's current-dollar share of GDP increased for the second consecutive year, to 11.5 percent, its highest share since 2007.
  • Professional, scientific, and technical services, which include accounting and payroll services and management, scientific, and technical consulting services, increased 5.4 percent in 2011, after increasing 2.6 percent in 2010.

Summary of Revisions of the Annual Industry Accounts

The estimates released today reflect the regular annual revision of the annual industry accounts for 2009-2011.  Annual revisions incorporate source data that are more complete, more detailed, and otherwise more reliable than those previously available.  Revisions primarily reflected the incorporation of newly available and revised annual source data (e.g., Census's Annual Survey of Manufactures and the Department of Treasury's Statistics of Income).  Compared to the previously published statistics, the overall picture of the economy for 2009-2011 did not change. 

  • In 2011, the direction of growth in real value added was unchanged for 14 of the 22 industry groups.  Four of the top-five industry group contributors to the deceleration in real GDP remained in the top-five and seven of the top-10 contributors to the increase in real GDP remained in the top-10.
  • In 2010, the direction of growth in real value added was unchanged for 19 of the 22 industry groups.  Nine of the top-10 industry group contributors to the upturn in real GDP remained in the top-10 and six of the top-10 contributors to the increase in real GDP remained in the top-10.
  • In 2009, the direction of growth in real value added was unchanged for 21 of the 22 industry groups.  All of the top-five contributors to the larger decrease in real GDP remained in the top-five.

Revisions to real value added reflect revisions to real gross output and real intermediate inputs.  A new table presenting revisions in percent changes in real gross output, real intermediate inputs, and real value added by industry group has been added to this release in order to better illustrate the relationship between these three measures (table 6).  In most instances, changes in real value added are largely consistent with changes in real gross output.

More detailed Annual Industry Accounts statistics are available on BEA's website at www.bea.gov/industry.  Additional information on this revision will be available in an article in the December 2012 issue of the Survey of Current Business.

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.

* * *

Advance statistics of gross domestic product (GDP) by industry for 2012 will be released on April 25, 2013 at 8:30 A.M. EDT.

distributed by
Latest news
Date Title
<1m ago NOVARTIS : announces CTL019 data published in NEJM demonstrating efficacy in certain patients with acute lymphoblastic leukemia ALL
1m ago Findings on Cancer Gene Therapy Reported by Investigators at National Institute of Advanced Industrial Science and Technology (NIAIST)...
1m ago PHARMERICA : Announces Third Quarter 2014 Earnings Call and Webcast
2m ago TC ORIENT LIGHTING : Announcements and Notices - Grant of Share Options
2m ago RESTAURANT BRANDS NEW ZEALAND : announces half year profit results for the half year ended 8 September 2014
2m ago EXPONENT : Reports Regularly Quarterly Dividend
2m ago PACIFIC CONTINENTAL : Reports Third Quarter 2014 Results
4m ago VARIAN MEDICAL SYSTEMS : Schedules Investor Meeting for Year-End Review of Fiscal 2014
4m ago "Treatment Agent And/Or Prophylactic Agent for Side Effects of Cancer Drugs" in Patent Application Approval Process
4m ago New Squamous Cell Carcinoma Study Findings Reported from Royal Infirmary Edinburgh NHS Trust (An evaluation of the Qiagen HPV sign for the detection...
Latest news
Advertisement
Hot News 
BOULDER BRANDS : Announces Preliminary Third Quarter 2014 Results
TUPPERWARE BRANDS : Reports Third Quarter Results
WILLBROS : Elects John T. McNabb, II Chief Executive Officer
CLICKSOFTWARE TECHNOLOGIES : Appoints New CFO
ALTISOURCE PORTFOLIO SOLUTIONS : INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Altisource Portfolio Solutions S.A.
Most Read News
11m ago AT&T revenue lower than expected as customers bring in their own phones
21m ago TERADYNE : beats Street 3Q forecasts
24m ago EXELON : ICC Approves ComEd’s Grand Prairie Gateway Project
24m ago TESORO LOGISTICS : Announces Pricing of $1.3 Billion of Senior Notes
23m ago ATMEL : Patent Issued for Apparatus and Method for Increasing the Quantity of Discrete Electronic Components in an Integrated Circuit Package
Most recommended articles
6m ago P&G shuffles management, focuses on streamlining co
11m ago AT&T revenue lower than expected as customers bring in their own phones
31m ago Analysis- Fresh turbulence tests post-crisis financial markets
45m agoDJLOW INFLATION, FLATTER COLA : Social Security Benefits to Get 1.7% Bump
48m agoDJStocks' Recent Rally May Not Last
Dynamic quotes  
ON
| OFF