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TUESDAY November 13, 2012 Growth in Goods and Services Industries Slowed in 2011 Revised Statistics of Gross Domestic Product by Industry for 2009-2011 Retail trade and durable goods manufacturing were the leading contributors to the deceleration in U.S. economic growth in 2011, according to revised statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis. The services-producing sector grew 2.4 percent in 2011 after increasing 2.7 percent in 2010. Retail trade was the largest contributor to the deceleration, increasing 0.2 percent in 2011, after increasing 7.0 percent in 2010. Manufacturing value added decelerated, increasing 2.5 percent in 2011, after increasing 6.9 percent in 2010. Durable goods manufacturing increased 6.8 percent, after increasing 13.3 percent in 2010, primarily reflecting a slowdown in computer and electronic products manufacturing. Growth in value added prices accelerated, increasing 2.1 percent in 2011 after increasing 1.3 percent in 2010. Value added prices for the private goods-producing sector increased 5.6 percent in 2011, reflecting upturns in prices in manufacturing and construction. Nondurable goods prices led the growth in 2011, increasing 9.8 percent. Value added prices for the private services-producing sector accelerated in 2011, increasing 1.5 percent after increasing 1.0 percent in 2010. An upturn in retail trade prices was one of the largest contributors to the acceleration in the GDP price index for 2011. 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 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
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