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The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.
Also available: a brief summary of highlights.
Technical: Brian C. Moyer: (202) 606-5307 BEA 04-29
Media: Ralph Stewart: 606-9690
GROSS DOMESTIC PRODUCT (GDP) BY INDUSTRY FOR 2003:
Improved Annual Input-Output Accounts and GDP-by-Industry Account
With this release of data on GDP-by-industry for 2003, the U.S. Bureau of Economic
Analysis (BEA) has completed an important step in improving the accuracy of its industry data.
This step introduces annual GDP-by-industry and input-output (I-O) accounts that are released
concurrently and present identical estimates of gross output, intermediate inputs, and value added
by industry. The estimates are produced using a new methodology. This methodology
incorporates the most timely and highest quality source data within an I-O framework that
balances and reconciles industry production with commodity usage. The new estimates present
the same general economic trends as the previously published data, but estimates for individual
industries differ for a number of reasons, including the new methodology, the adoption of the
1997 North American Industry Classification System (NAICS), and the incorporation of results
from the 2003 comprehensive revision of the national income and product accounts (NIPAs).
The next step in improving the industry accounts will further integrate the annual GDP-
by-industry and I-O accounts with the NIPAs. This process will incorporate expanded data on
intermediate inputs by industry from the U.S. Census Bureau.
Today's release of the annual I-O accounts for 1998-2002 accelerates the availability of
these data from 36 to 18 months after the reference year. This fall, these accounts will, for the
first time, be made available fully two years earlier than in the past - one year after the end of the
reference year instead of 3 years as in the past.
The new GDP-by-industry data for 1998-2003 show: the information-technology-based
expansion of the late 1990s, the downturn in private goods-producing industries in 2001, and the
stronger growth in private services-producing industries in 2001-2003. More specifically:
. The services sector led real GDP growth in 2001-2003. Services sector industries
increased 2.2 percent in 2001, moderating the economic slowdown. They increased
2.6 percent in 2002 and 3.6 percent in 2003, leading the economic recovery.
. In 2002 and 2003, growth in the services sector was led by strong growth in both the
retail trade and information industries. Retail trade grew 7.9 percent in 2002
and information increased 9.3 percent in 2003. The strong growth in information
continued a trend spanning the entire 1998-2003 period.
. The goods sector - consisting primarily of manufacturing - continued its recovery in
2003, growing 1.1 percent after increasing 0.9 percent in 2002. Manufacturing
increased 2.4 percent in 2002 and 1.7 percent in 2003, after declining 5.4 percent in
2001.
. The services sector increased its share of current-dollar GDP in 1998-2003,
accounting for 68.1 percent of the economy by 2003; the goods sector continued its
long-term decline in share, accounting for 19.2 percent of the economy by 2003.
Manufacturing's share of current-dollar GDP declined 2.7 percentage-points, from
15.4 percent in 1998 to 12.7 percent in 2003.
All of these data are available without charge on BEA's Web site:
<www.bea.gov>
Summary BEA estimates are available on recorded messages at the time of public
release at the following telephone numbers:
(202) 606-5306 Gross domestic product
606-5303 Personal income and outlays
606-5362 U.S. international transactions
Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
monthly journal. Subscriptions and single copies of the printed Survey are for sale
by the Superintendent of Documents, U.S. Government Printing Office. Internet:
<bookstore.gpo.gov>; phone: 202-512-1800; fax: 202-512-2250; mail: Stop SSOP, Washington,
DC 20402-0001.
* * *
- Tables 1-2 follow -
Table 1.--Percent Changes in Real Value Added by Industry Group |
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|
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|
1999 |
2000 |
2001 |
2002 |
2003 |
Average Annual Rate of Change 1998-2000 |
Gross domestic product |
4.5 |
3.7 |
0.5 |
2.2 |
3.1 |
4.1 |
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|
|
|
|
|
|
Private industries |
4.9 |
4.0 |
0.6 |
2.2 |
3.0 |
4.4 |
Agriculture, forestry, fishing, and hunting |
3.3 |
12.2 |
-0.2 |
2.2 |
1.8 |
7.7 |
Mining |
2.6 |
-4.1 |
-5.3 |
-0.2 |
-2.2 |
-0.8 |
Utilities |
4.6 |
5.6 |
-8.4 |
5.2 |
2.8 |
5.1 |
Construction |
2.4 |
0.6 |
-2.1 |
-3.1 |
0.1 |
1.5 |
Manufacturing |
4.4 |
6.3 |
-5.4 |
2.4 |
1.7 |
5.3 |
Durable goods |
6.2 |
11.6 |
-5.2 |
2.0 |
3.4 |
8.9 |
Nondurable goods |
1.5 |
-1.3 |
-5.8 |
2.9 |
-0.6 |
0.1 |
Wholesale trade |
5.2 |
-0.4 |
5.9 |
2.2 |
2.5 |
2.4 |
Retail trade |
5.8 |
4.5 |
6.9 |
7.9 |
5.0 |
5.2 |
Transportation and warehousing |
4.2 |
4.9 |
-3.4 |
-0.6 |
3.0 |
4.6 |
Information |
16.1 |
4.7 |
3.5 |
3.1 |
9.3 |
10.3 |
Finance, insurance, real estate, rental, and leasing |
5.3 |
5.3 |
2.4 |
1.7 |
3.8 |
5.3 |
Professional and business services |
5.4 |
3.2 |
0.5 |
2.4 |
1.9 |
4.3 |
Educational services, health care, and social assistance |
1.8 |
2.8 |
2.2 |
3.9 |
3.1 |
2.3 |
Arts, entertainment, recreation, accommodation, and food services |
3.6 |
3.3 |
0.7 |
1.9 |
1.9 |
3.4 |
Other services, except government |
-1.6 |
-0.2 |
2.3 |
-4.0 |
2.8 |
-0.9 |
Government |
1.1 |
2.0 |
0.9 |
1.2 |
1.4 |
1.6 |
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|
Addenda: |
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|
Goods-sector industries/1/ |
3.8 |
4.8 |
-4.4 |
0.9 |
1.1 |
4.3 |
Services-sector industries/2/ |
5.3 |
3.7 |
2.2 |
2.6 |
3.6 |
4.5 |
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing |
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. |
Source: U.S. Bureau of Economic Analysis |
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Table 2.--Percent Changes in Real Value Added by Industry |
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|
|
|
|
|
|
|
1999 |
2000 |
2001 |
2002 |
2003 |
Average Annual Rate of Change 1998-2000 |
Gross domestic product |
4.5 |
3.7 |
0.5 |
2.2 |
3.1 |
4.1 |
|
|
|
|
|
|
|
Private industries |
4.9 |
4.0 |
0.6 |
2.2 |
3.0 |
4.4 |
Agriculture, forestry, fishing, and hunting |
3.3 |
12.2 |
-0.2 |
2.2 |
1.8 |
7.7 |
Farms |
2.1 |
13.7 |
-4.2 |
1.9 |
....
|
7.8 |
Forestry, fishing, and related activities |
7.2 |
8.0 |
11.8 |
3.1 |
....
|
7.6 |
Mining |
2.6 |
-4.1 |
-5.3 |
-0.2 |
-2.2 |
-0.8 |
Oil and gas extraction |
1.0 |
-11.5 |
-2.4 |
1.6 |
....
|
-5.5 |
Mining, except oil and gas |
9.0 |
1.1 |
-5.3 |
-5.8 |
....
|
5.0 |
Support activities for mining |
-6.1 |
21.4 |
-20.7 |
1.9 |
....
|
6.8 |
Utilities |
4.6 |
5.6 |
-8.4 |
5.2 |
2.8 |
5.1 |
Construction |
2.4 |
0.6 |
-2.1 |
-3.1 |
0.1 |
1.5 |
Manufacturing |
4.4 |
6.3 |
-5.4 |
2.4 |
1.7 |
5.3 |
Durable goods |
6.2 |
11.6 |
-5.2 |
2.0 |
3.4 |
8.9 |
Wood products |
1.7 |
3.2 |
-2.6 |
4.2 |
....
|
2.5 |
Nonmetallic mineral products |
2.2 |
1.4 |
-1.8 |
-2.3 |
....
|
1.8 |
Primary metals |
4.9 |
0.1 |
-8.2 |
-3.7 |
....
|
2.5 |
Fabricated metal products |
0.4 |
5.9 |
-9.0 |
-1.8 |
....
|
3.1 |
Machinery |
-7.8 |
4.1 |
-8.1 |
-5.9 |
....
|
-2.0 |
Computer and electronic products |
30.3 |
48.0 |
0.5 |
11.4 |
....
|
38.8 |
Electrical equipment, appliances, and components |
7.7 |
5.3 |
-5.3 |
-3.5 |
....
|
6.5 |
Motor vehicles, bodies and trailers, and parts |
2.5 |
3.1 |
-8.4 |
15.5 |
....
|
2.8 |
Other transportation equipment |
-1.3 |
-4.4 |
-1.9 |
-6.7 |
....
|
-2.9 |
Furniture and related products |
4.2 |
3.9 |
-9.4 |
-3.3 |
....
|
4.1 |
Miscellaneous manufacturing |
3.3 |
10.5 |
-4.7 |
0.0 |
....
|
6.8 |
Nondurable goods |
1.5 |
-1.3 |
-5.8 |
2.9 |
-0.6 |
0.1 |
Food and beverage and tobacco products |
1.3 |
-0.2 |
-2.5 |
-0.4 |
....
|
0.6 |
Textile mills and textile product mills |
-2.7 |
3.5 |
-17.3 |
0.6 |
....
|
0.4 |
Apparel and leather and allied products |
-7.5 |
2.7 |
-8.9 |
2.9 |
....
|
-2.5 |
Paper products |
1.7 |
-8.9 |
-10.5 |
-1.0 |
....
|
-3.8 |
Printing and related support activities |
1.6 |
1.1 |
-6.6 |
-1.4 |
....
|
1.3 |
Petroleum and coal products |
-8.2 |
-21.6 |
-12.7 |
31.6 |
....
|
-15.2 |
Chemical products |
4.9 |
0.0 |
-2.6 |
7.1 |
....
|
2.4 |
Plastics and rubber products |
3.6 |
3.2 |
-8.1 |
-2.1 |
....
|
3.4 |
Wholesale trade |
5.2 |
-0.4 |
5.9 |
2.2 |
2.5 |
2.4 |
Retail trade |
5.8 |
4.5 |
6.9 |
7.9 |
5.0 |
5.2 |
Transportation and warehousing |
4.2 |
4.9 |
-3.4 |
-0.6 |
3.0 |
4.6 |
Air transportation |
8.6 |
9.1 |
-0.7 |
2.6 |
....
|
8.9 |
Rail transportation |
1.6 |
2.9 |
-3.9 |
-7.3 |
....
|
2.3 |
Water transportation |
-9.1 |
13.4 |
-3.5 |
-7.5 |
....
|
1.5 |
Truck transportation |
1.1 |
1.0 |
-6.3 |
-0.5 |
....
|
1.0 |
Transit and ground passenger transportation |
3.2 |
-1.9 |
4.6 |
1.0 |
....
|
0.6 |
Pipeline transportation |
11.3 |
12.7 |
-5.0 |
-7.6 |
....
|
12.0 |
Other transportation and support activities |
5.7 |
6.1 |
-4.2 |
0.8 |
....
|
5.9 |
Warehousing and storage |
6.7 |
6.5 |
-1.9 |
-1.3 |
....
|
6.6 |
Information |
16.1 |
4.7 |
3.5 |
3.1 |
9.3 |
10.3 |
Publishing industries (includes software) |
20.2 |
-3.7 |
-1.2 |
1.6 |
....
|
7.6 |
Motion picture and sound recording industries |
9.9 |
0.8 |
-1.8 |
-1.1 |
....
|
5.3 |
Broadcasting and telecommunications |
14.3 |
9.3 |
6.0 |
3.6 |
....
|
11.7 |
Information and data processing services |
21.6 |
4.2 |
5.6 |
7.9 |
....
|
12.6 |
Finance, insurance, real estate, rental, and leasing |
5.3 |
5.3 |
2.4 |
1.7 |
3.8 |
5.3 |
Finance and insurance |
6.9 |
9.2 |
2.9 |
1.6 |
7.2 |
8.0 |
Federal Reserve banks, credit intermediation, and related activities |
7.4 |
-2.9 |
5.9 |
-0.2 |
....
|
2.1 |
Securities, commodity contracts, and investments |
23.3 |
47.6 |
7.8 |
3.8 |
....
|
34.9 |
Insurance carriers and related activities |
-1.7 |
6.3 |
-4.2 |
2.6 |
....
|
2.2 |
Funds, trusts, and other financial vehicles |
-20.6 |
-24.1 |
-1.2 |
2.9 |
....
|
-22.4 |
Real estate and rental and leasing |
4.4 |
2.9 |
2.0 |
1.7 |
1.8 |
3.6 |
Real estate |
4.1 |
2.9 |
2.2 |
1.2 |
....
|
3.5 |
Rental and leasing services and lessors of intangible assets |
7.1 |
2.6 |
0.2 |
6.8 |
....
|
4.8 |
Professional and business services |
5.4 |
3.2 |
0.5 |
2.4 |
1.9 |
4.3 |
Professional, scientific, and technical services |
6.5 |
8.2 |
1.1 |
0.5 |
1.9 |
7.3 |
Legal services |
2.3 |
2.7 |
-0.5 |
0.5 |
....
|
2.5 |
Computer systems design and related services |
12.7 |
11.8 |
6.8 |
-5.1 |
....
|
12.3 |
Miscellaneous professional, scientific, and technical services |
6.3 |
9.0 |
-0.1 |
2.3 |
....
|
7.7 |
Management of companies and enterprises |
0.8 |
-1.2 |
4.2 |
8.0 |
4.4 |
-0.2 |
Administrative and waste management services |
5.7 |
-4.9 |
-3.1 |
3.5 |
0.2 |
0.2 |
Administrative and support services |
5.2 |
-5.5 |
-3.9 |
3.9 |
....
|
-0.3 |
Waste management and remediation services |
10.4 |
2.1 |
4.9 |
0.0 |
....
|
6.2 |
Educational services, health care, and social assistance |
1.8 |
2.8 |
2.2 |
3.9 |
3.1 |
2.3 |
Educational services |
2.0 |
2.7 |
1.2 |
0.5 |
0.5 |
2.4 |
Health care and social assistance |
1.8 |
2.8 |
2.3 |
4.4 |
3.4 |
2.3 |
Ambulatory health care services |
2.0 |
4.2 |
4.3 |
7.4 |
....
|
3.1 |
Hospitals and nursing and residential care facilities |
0.7 |
0.4 |
-0.3 |
1.2 |
....
|
0.5 |
Social assistance |
5.4 |
5.5 |
2.6 |
1.2 |
....
|
5.4 |
Arts, entertainment, recreation, accommodation, and food services |
3.6 |
3.3 |
0.7 |
1.9 |
1.9 |
3.4 |
Arts, entertainment, and recreation |
3.8 |
0.9 |
2.3 |
1.6 |
2.3 |
2.3 |
Performing arts, spectator sports, museums, and related activities |
1.9 |
-0.4 |
0.9 |
1.9 |
....
|
0.8 |
Amusements, gambling, and recreation industries |
5.3 |
2.0 |
3.3 |
1.3 |
....
|
3.6 |
Accommodation and food services |
3.6 |
4.1 |
0.2 |
2.1 |
1.8 |
3.8 |
Accommodation |
3.9 |
4.2 |
-4.5 |
2.0 |
....
|
4.0 |
Food services and drinking places |
3.4 |
4.1 |
2.7 |
2.1 |
....
|
3.7 |
Other services, except government |
-1.6 |
-0.2 |
2.3 |
-4.0 |
2.8 |
-0.9 |
Government |
1.1 |
2.0 |
0.9 |
1.2 |
1.4 |
1.6 |
Federal |
-0.7 |
1.5 |
-1.4 |
1.1 |
....
|
0.4 |
General government |
-0.8 |
0.9 |
0.2 |
1.7 |
....
|
0.0 |
Government enterprises |
-0.1 |
4.9 |
-9.5 |
-1.9 |
....
|
2.4 |
State and local |
2.0 |
2.3 |
2.0 |
1.3 |
....
|
2.1 |
General government |
1.8 |
2.1 |
2.3 |
1.6 |
....
|
1.9 |
Government enterprises |
4.1 |
4.0 |
-1.8 |
-1.9 |
....
|
4.0 |
|
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Addenda: |
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Goods-sector industries/1/ |
3.8 |
4.8 |
-4.4 |
0.9 |
1.1 |
4.3 |
Services-sector industries/2/ |
5.3 |
3.7 |
2.2 |
2.6 |
3.6 |
4.5 |
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. |
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. |
Source: U.S. Bureau of Economic Analysis |
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