Real GDP increased 2.9% in 2018, according to gross domestic product by industry statistics released by the Bureau of Economic Analysis.
The private goods and services producing sectors, as well as the government sector, contributed to the increase. Growth was widespread, with 19 of 22 industry groups contributing to the increase. Information, professional, scientific and technical services, and durable goods manufacturing were the leading contributors to the increase in real GDP.
Durable goods manufacturing increased 5.4%, after increasing 3.2%. The growth primarily reflected increases in motor vehicles, bodies and trailers, and parts as well as computer and electronic products.
Real GDP growth slowed to 2.2% in the fourth quarter from 3.4% in the third quarter. Finance and insurance was the leading contributor to the deceleration with real value added for the industry group decreasing 6.2% in the fourth quarter, after increasing 5.5% in the third quarter.
Wholesale trade, mining and information were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2018. Fifteen of 22 industry groups contributed to the overall 2.2% increase in real GDP in the fourth quarter.