Statistics reflected by the most recent press release of the (BEA), Bureau of Economic Analysis shows that durable goods manufacturing led U.S. economic growth in 2011. According to the Bureau, manufacturing value rose 4.3%, after increasing 11.2% in 2010.
More specifically, according to the Bureau, durable goods manufacturing led the growth in 2011, increasing 7.9% for the year. The service producing sector grew 1.6%, after increasing 3.0% in 2010. The highest increasing sectors were professional, scientific and technical, which contributed 4.9%. Information services increased 5.1%, after increasing 3.0% in 2010.
With regard to prices, the Bureau reported that value added prices increased 2.1% in 2011, after increasing 1.2% in 2010. Value added prices for the private goods producing sector increased 5.5% in 2011, which reflected upturns in pricing in manufacturing and construction.
Value added prices for the private services producing sector accelerated by 1.7% in 2011, after increasing by .7% in 2010. An upturn in retail trade prices was one of the largest contributors to the acceleration of the GDP price index in 2011.
Small Business Loan Resources:
SBA Community Blog and Forum – Blog and Forums by the SBA, Small business administration. Questions can be asked and answers provided.
U.S. Department of Commerce – Helps american businesses become more innovative at home and competitive abroad.
U.S. Bureau of Economic Analysis – Provides statistics on consumer spending, corporate profits, travel and tourism and much more.
Entrepreneurworld – Resource for Entrepreneurs, including starting your own business, growing your business.
Bureau of Labor Statistics – Provides companies with up to date information on employment, demand, hiring, productivity and other information that may be useful to companies.
International Trade Administration – Creates jobs and economic growth by promotingU.S. companies abroad to governments in other countries.
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Department of Labor – Provides information on many labor issues that can be useful to companies, such as insurance, regulation, wages, wage hours, compensation, safety and health
U.S. Patent and Trademark Office –U.S. office to file patents to protect a companies new or existing proprietary products.
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