The 2020 Mid-Year Economic Update_long

Nondurable Goods Manufacturing Led Decline in 1Q

Professional, scientific and technical services and wholesale trade also contributed to the decrease.

Real gross domestic product for the U.S. decreased at an annual rate of 0.2 percent in the first quarter of 2015, according to the Bureau of Economic Analysis. A deceleration in nondurable goods manufacturing (+0.2 percent) and downturns in both professional, scientific and technical services (-0.6 percent) and wholesale trade (-3.4 percent) were the leading contributors to the downturn in U.S. economic growth. Overall, 15 of 22 industry groups contributed to the downturn in the first quarter.

Also contributing to the decline, transportation and warehousing services decreased 17.3 percent, while utilities decreased 18.4 percent. Conversely, retail trade contributed the largest positive offset to the decrease in real GDP in the first quarter, increasing 8.7 percent.

Real gross output decelerated in the first quarter, reflecting a downturn in real gross output for the private services-producing sector that was partly offset by an acceleration in the private goods-producing sector and an upturn in the government sector.

Wholesale trade real gross output decreased 10.9 percent, while transportation and warehousing services decreased 7.8 percent and professional, scientific and technical services decreased 4.1 percent.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.