Durable Goods Manufacturing Helps Fuel 3Q Economic Growth - Modern Distribution Management

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Durable Goods Manufacturing Helps Fuel 3Q Economic Growth

Eighteen of 22 industry groups contributed to the increase according to GDP by industry statistics.
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Durable goods manufacturing was among the leading contributors to the 3.2 percent increase in U.S. economic growth in the third quarter of 2017, according the gross domestic product by industry report from the Bureau of Economic Analysis.

Eighteen of 22 industry groups contributed to the overall increase in real GDP in the third quarter; finance and insurance, along with information services, also were among the chief growth drivers.

Durable goods manufacturing increased 7.5 percent in the third quarter, after increasing 2.9 percent in the second. This growth primarily reflected increases in computer and electronic products manufacturing.

Nondurable goods manufacturing decreased 4.1 percent in the third quarter, after increasing 3.5 percent in the second. The decrease was primarily attributed to a decrease in petroleum and coal products manufacturing.

 

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