Five Takeaways From New GDP-by-Industry Report
▻http://blogs.wsj.com/economics/2014/04/25/five-takeaways-from-new-gdp-by-industry-report
#Finance remains cornerstone of economy: A broad category encompassing banking, insurance, real estate and rentals made the second-largest contribution to growth in 2013—0.35 percentage point. The outcome likely reflects soaring housing prices that helped compensate for a slowdown in sales activity and a buoyant market for home rentals. Unconvinced about the strength of the economic recovery, many prospective home buyers prefer to rent. The sector remained the largest of the nation’s economy, accounting for 19.6% of output in 2013.
#PIB