Date: July 22, 2019
The leading contributors to the increase in U.S. economic growth in the first quarter of 2019 were Finance and insurance; retail trade; and health care and social assistance. According to The U.S. Bureau of Economic Analysis (BEA), “16 of 22 industry groups contributed to the overall 3.1 percent increase in real GDP in the first quarter.”
For the finance and insurance industry group a 9.5 % increase was realized in the first quarter, after decreasing 6.2 % in the fourth quarter. Retail trade rose 11.9 % in the first quarter, after decreasing 2.5 % in the fourth. Moreover, Health care and social assistance climbed 6.2 %, after increasing 2.4 %. This was the largest increase since the fourth quarter of 2008.
There was a 8.4% increase in Nondurable goods manufacturing in the first quarter, after increasing 1.1 % the previous quarter. Also, Information services grew 4.5 %, after increasing 8.9 %. Education services rose 4.3 % after decreasing 1.9 %.
Gross output by industry
Economy-wide, real gross output rose 1.6 % in the first quarter. This reflected an increase of 2.8 % for the private goods-producing sector, 1.3% for the private services-producing sector, and 0.3% for the government sector. Overall, 14 of 22 industry groups contributed to the increase in real gross output.
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.