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TUESDAY May 25, 2010 2009 Decline Widespread Across Industries Advance GDP by Industry Statistics for 2009 and Revised Statistics for 1998-2008 Downturns in durable-goods manufacturing and finance and insurance and a continued contraction in construction were the leading contributors to the downturn in U.S. economic growth in 2009, according to preliminary statistics on real gross domestic product (GDP) by industry from the Bureau of Economic Analysis. The goods sector contracted for the second consecutive year, falling 5.3 percent in 2009, led by a downturn in durable-goods manufacturing. Annual Growth in Real GDP 5.0 4.0 3.0 3.6 3.0 2.8 3.1 2.3 1.9 2.0 Construction value added contracted for the fifth consecutive year, declining 9.9 percent in 2009. 0.0 -1.0 -2.0 -3.0 The services sector fell 1.9 percent, led by a 2.7 percent drop in finance and insurance. Growth in health care helped partially offset declines in this sector. 0.4 0.6 1.0 Percent -4.0 GDP Private services-producing sector -5.0 Private goods-producing sector -2.5 -2.4 -1.9 -6.0 -5.3 1998-2002 2002-2007 2008 2009 Source: U.S. Bureau of Economic Analysis Growth in the GDP price index continued to slow in 2009, reflecting a sharp downturn in goods-sector prices. Annual Growth in Prices In the goods sector, mining and agriculture prices turned down and were accompanied by a steep slowdown in prices for nondurable-goods manufacturing. Services-sector prices grew 1.9 percent, led by increases for finance and insurance and real estate. 3.0 3.7 2.9 1.9 2.0 2.5 3.3 2.1 2.1 2.0 1.0 Percent 4.0 1.9 1.2 0.2 0.0 -1.0 -2.0 -3.0 GDP Private services-producing sector -4.0 Private goods-producing sector -5.0 1998-2002 2002-2007 2008 -4.4 2009 Source: U.S. Bureau of Economic Analysis BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. Contact: Ralph Stewart 202–606–9690 Bureau of Economic Analysis, U.S. Department of Commerce