Manufacturing Leading Contributor to U.S. Upturn

Manufacturing value added rose 5.8% in 2010, a sharp return to growth after declining two consecutive years.

The Bureau of Economic Analysis reported on April 26 that durable-goods manufacturing and retail trade were among the leading contributors to the upturn in U.S. economic growth in 2010. This is according to preliminary statistics on the breakout of real gross domestic product (GDP) by industry from the Bureau of Economic Analysis.

The economic recovery was widespread: 20 of 22 industry groups contributed to real GDP growth.

Manufacturing value added -- a measure of an industrys contribution to GDP -- rose 5.8% in 2010, a sharp return to growth after declining two consecutive years. Durable-goods manufacturing turned up, increasing 9.9% after declining 12.7% in 2009.

Nondurable-goods manufacturing rose 0.8%, after declining 3.4% in 2009.

Information-communications-technology-producing industries increased 16.3% in 2010, returning to double-digit growth for the first time since 2005.

Retail trade value added grew 5.2% in 2010, reflecting increased consumer purchases following two consecutive years of contraction.

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