Construction Leads Economic Growth in 1Q - Modern Distribution Management

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Construction Leads Economic Growth in 1Q

Health care and social assistance and retail trade also contributed to the increase.

Real gross domestic product for the U.S. increased at an annual rate of 1.1 percent in the first quarter of 2016, according to the Bureau of Economic Analysis. Construction (+ 9 percent); health care and social assistance (+3.8 percent); and retail trade (+4.8 percent) were the leading contributors to the increase in U.S. economic growth.

Overall, 11 of 22 industry groups contributed to the increase in the first quarter.

Real gross output increased in the first quarter, which reflected increases in real gross output for both the private goods- and services-producing sectors, as well as the government sector.

Overall, real gross output increased in 16 of 22 industry groups.

Real gross output for construction increased 14.5 percent, information services increased 2.3 percent, and health care and social assistance increased 7.3 percent. 

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