
The chart above using annual GDP data by sector from the BEA shows the downward trend in the private goods-producing sector, from 40% in 1947 to less than 19% in 2008. More reason that the importance of industrial production as an economic indicator has been declining over time. (Note: The BEA defines these two sectors as "private goods-producing" and "private services-producing," with the remaining percentage in the non-private or government sector.)
See related WSJ article "Nation’s Goods-Producing Sector Continues to Shrink"
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