Today’s release presents estimates of gross domestic product (GDP) by industry and related measures for the second quarter of 2023, as well as revised quarterly estimates for the first quarter of 2018 through the first quarter of 2023 as part of the comprehensive update of the National Economic Accounts (NEAs).
Second Quarter 2023
Real gross domestic product by industry In the second quarter, the value added of private goods-producing industries increased 7.7 percent, private services-producing industries increased 1.0 percent, and government increased 1.0 percent. Overall, 13 of 22 industry groups contributed to the second-quarter increase in real GDP.
- Within private goods-producing industries, the increase was led by mining, durable goods manufacturing, and nondurable goods manufacturing.
- Within private services-producing industries, the increase was led by utilities and professional, scientific, and technical services. Partly offsetting these increases were decreases in wholesale trade and accommodation and food services.
- The increase in government reflected an increase in federal government that was partly offset by a decrease in state and local government.
Gross output by industry
Real gross output—principally a measure of an industry’s sales or receipts, which includes sales to final users in the economy (GDP) and sales to other industries (intermediate inputs)—increased 1.4 percent in the second quarter, reflecting increases of 3.5 percent for private goods-producing industries, 1.8 percent for government, and 0.6 percent for private services-producing industries. Overall, 12 of 22 industry groups contributed to the second-quarter increase in real gross output.
First Quarter 2018 through First Quarter 2023
Today’s release also includes revised statistics for the first quarter of 2018 through the first quarter of 2023. For additional information, refer to the news release for "Gross Domestic Product by Industry, Second Quarter 2023 and Comprehensive Update" and the Industry Economic Accounts tables in BEA's interactive data application. For additional background materials and results, also refer to “Information on Comprehensive Updates to the National, Industry, and State Economic Accounts.”
For more information, read the full release.