Durable Goods Manufacturing Led Growth in 2011
A 1.7-percent increase in real gross domestic product (GDP) in 2011 was led by a 7.9-percent growth of durable goods manufacturing, according to the Bureau of Economic Analysis (BEA). The BEA reported that 15 of 22 industry groups – including professional, scientific and technical services, and information services -- contributed to the growth.
Real manufacturing value added – which is used to measure an industry's contribution to GDP —rose 4.3 percent in 2011. Nondurable goods manufacturing rose 0.3 percent in 2011.
Professional, scientific, and technical services increased 4.9 percent in 2011, and information services, which includes publishing and telecommunications, grew 5.1 percent.
The bureau said manufacturing's current-dollar share of GDP increased for the second consecutive year, to 12.2 percent, hitting its highest share since 2006, and reflecting increases in both durable and nondurable goods manufacturing.
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