FROM: The National Association of Manufacturers:
According to new data from the Bureau of Economic Analysis, manufacturing was one of the larger contributors to real GDP growth in the second quarter, adding 0.36 percentage points to top-line growth of 3.1 percent. Real value-added output from manufacturing increased 3.2 percent in the second quarter, extending the 4.0 percent gain in the first quarter. Overall, value-added output for manufacturing rose from $2.206 trillion in the first quarter to $2.219 trillion in the second quarter, a new all-time high. Value-added output for durable goods increased from $1.196 trillion to $1.205 trillion, with nondurable goods value-added output rising from $1.010 trillion to $1.014 trillion. The bottom line is that manufacturing accounted for 11.5 percent of real GDP in the second quarter.
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