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TUESDAY December 14, 2010 2009 Decline Widespread Across Industries Revised Statistics of Gross Domestic Product by Industry for 2007-2009 Downturns in durable-goods manufacturing and professional, scientific, and technical services and a steeper contraction in construction were among the leading contributors to the decline in U.S. economic growth in 2009, according to revised statistics on real gross domestic product (GDP) by industry from the Bureau of Economic Analysis. The goods sector fell 6.4 percent in 2009, led by a downturn in durable-goods manufacturing. 4.0 3.0 2.7 3.1 Annual Growth in Real GDP 2.7 2.5 1.9 2.0 Construction value added fell for the fifth consecutive year, declining at an accelerated rate of 15.6 percent. The services sector fell 2.1 percent, led by a 3.4 percent decline in professional, scientific, and technical services. Growth in the finance and insurance industry partially offset declines in this sector. 0.6 1.0 0.0 0.4 0.0 Percent -1.0 -2.0 -3.0 -4.0 -2.6 -5.0 GDP Private services-producing sector -6.0 Private goods-producing sector -2.1 -4.2 -7.0 -6.4 2006 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. 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 1.4 percent, led by increases in the utilities and the health care industries. Annual Growth in Prices 5.0 4.0 4.1 3.3 3.5 2.9 3.0 2.9 3.2 2.6 2.2 1.9 2.0 Percent 0.9 1.4 1.0 0.0 -1.0 -2.0 -3.0 GDP Private services-producing sector -4.0 Private goods-producing sector -3.0 -5.0 2006 2007 2008 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
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