The 2020 Mid-Year Economic Update_long

Nondurable Goods Manufacturing Led Growth in 4Q

Private goods- and services-producing sectors contributed to the real GDP increase.

Real GDP increased 2.2 percent in the fourth quarter, according to the Bureau of Economic Analysis, with both private goods- and services-producing sectors contributing to the increase. The government sector, however, decreased.

Nondurable goods manufacturing (+9.7 percent); professional, scientific, and technical services (+6.5 percent) and mining (+16 percent) were the leading contributors to U.S. economic growth in the fourth quarter of 2014. Overall, 15 of 22 industry groups contributed to the increase in real GDP.

Real gross output increased in 18 of 22 industry groups, reflecting increases from the private goods-producing (+0.3 percent) and private services-producing (+4.4 percent) sectors. Nondurable goods manufacturing real gross output increased 2.8 percent, reflecting growth in manufacturers' shipments.

Both the private goods- and services-producing sectors contributed to the 2.4 percent increase in real GDP in 2014, while the government sector decreased.

Growth was widespread, with 18 of 22 industry groups contributing to the increase. Professional, scientific, and technical services; nondurable goods manufacturing; and real estate and rental and leasing were the leading contributors to the increase in real GDP.

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