According to gross domestic product (GDP) by industry statistics released by the Bureau of Economic Analysis, 16 of 22 industry groups contributed to the overall 3.1% increase in real GDP 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.
Nondurable goods manufacturing increased 8.4% in the first quarter, after increasing 1.1% in the fourth quarter. The first quarter growth primarily reflected increases in petroleum and coal products.
Information services increased 4.5%, after increasing 8.9%. The first quarter growth primarily reflected increases in data processing, internet publishing, and other information services, as well as publishing industries.
Related Posts
-
MDM’s top news briefs from News briefs from May 11 – May 25, 2020. To…
-
CEO Michael DeCata reports the company is positioned for solid future growth, including acquisitions.
-
MDM’s top news briefs from News briefs from April 26 – May 10, 2020. To…