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Friday, July 19, 2019 Contact: Jeannine Aversa, (301) 278‐9003 Gross Domestic Product by Industry: First Quarter 2019 Finance and Insurance Led Growth in the First Quarter Finance and insurance; retail trade; and health care and social assistance were the leading contributors to the increase in U.S. economic growth in the first quarter of 2019. Overall, 16 of 22 industry groups contributed to the 3.1 percent increase in real GDP in the first quarter. Real GDP and Real Value Added by Sector Percent Change 6 4 2 0 ‐2 2018:Q1 2018:Q2 GDP Private Goods 2018:Q3 2018:Q4 Private Services U.S. Bureau of Economic Analysis 2019:Q1 Government Seasonally adjusted annual rates Finance and insurance increased 9.5 percent in the first quarter, after decreasing 6.2 percent in the fourth quarter. Retail trade increased 11.9 percent, after decreasing 2.5 percent in the fourth quarter. Health care and social assistance increased 6.2 percent, after increasing 2.4 percent. Real Value Added by Industry Percent Change Nondurable goods manufacturing 15 Retail trade 10 Information 5 Finance and insurance 0 Educational services ‐5 Health care and social assistance ‐10 2018:Q4 U.S. Bureau of Economic Analysis 2019:Q1 Seasonally adjusted annual rates BEA statistics—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 at www.bea.gov. E‐mail alerts are also available.
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