Transportation equipment and food shipments top U.S. manufacturing sector
Photo: Courtesy of U.S. Census Bureau
Transportation equipment shipments totaled more than $1 trillion in the U.S. in 2018, according to the 2018 Annual Survey of Manufacturers, whose results were released last week.
The transportation equipment sector led every other manufacturing subsector surveyed both in total value of shipments and total payroll, which came in at $106.2 billion.
The second largest shipments total belonged to the food manufacturing subsector, which totaled $787 billion, according to the report. In turn, the food manufacturing subsector’s payroll was logged at a valuation of $68.8 billion.
The third largest subsector, according to the same measurements, was chemical manufacturing, which totaled $765.1 billion in shipments and $60.2 billion in payroll.
According to the U.S. Census Bureau, which releases the report, the transportation equipment sector was the first manufacturing subsector to surpass the $1 trillion in shipments mark.
Data from the Annual Manufacturers Survey is used by the Bureau of Economic Analysis, which uses the data to determine GDP estimates, and the Bureau of Labor Statistics, which uses the data to calculate annual productivity series and to update producer price indexes, according to the Census Bureau. The Federal Reserve Board also uses the report when compiling the Index of Industrial Production.
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