The 2020 Mid-Year Economic Update_long

Real Estate, Rental & Leasing Lead Economic Growth in 1Q

Mining and durable goods manufacturing also contributed to the increase.

Real gross domestic product for the U.S. increased at an annual rate of 1.4 percent in the first quarter, according to the "GDP by industry" statistics released by Bureau of Economic Analysis.

Real estate and rental & leasing, mining and durable goods manufacturing were the leading contributors to the increase. Overall, 13 of 22 industry groups contributed to the increase in the first quarter.

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 in the first quarter. This reflected increases in real gross output for both the private goods- and services-producing sectors, while the government sector decreased. Overall, real gross output increased in 15 of 22 industry groups.

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