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Economic News Release
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Technical notes

Technical Notes

Goods producing sector

This sector contains industries within agriculture, forestry, fishing, and
hunting (NAICS 11), mining (NAICS 21), utilities (NAICS 22), construction 
(NAICS 23), and manufacturing (NAICS 31-33) except computer and electronic
products (NAICS 334). 

Information and communications technology (ICT) sector

Information and communication technology (ICT) contains the following 
industries: computer and electronic products (NAICS 334), broadcasting 
and telecommunications (NAICS 515,517), data processing, internet publishing,
and other information services (NAICS 518,519) and computer systems design 
and related services (NAICS 5415). This definition is generally comparable 
to that used by the Organization for Economic Cooperation and Development 
(OECD), which defines the ICT sector using the International Standard 
Industrial Classification (ISIC) (OECD 2011). 

FIRE sector 

The finance, insurance, and real estate (FIRE) sector contains industries
within finance and insurance (NAICS 52) and real estate and rental and 
leasing (NAICS 53). 

Service providing sector 

This sector contains industries within trade (NAICS 42,44-45), transportation
and warehousing (NAICS 48-49), publishing, except internet (includes software)
(NAICS 511) and motion picture and sound recording (NAICS 512), and industries
within services (NAICS 54-81) except computer systems design and related 
services (NAICS 5415). 

Capital input  

Data on investment for fixed assets are obtained from BEA. Data on inventories
are estimated using data from BEA and additional information from IRS 
Corporation Income Returns. Data for land in the farm industry are obtained 
from USDA. Nonfarm industry detail for land is based on IRS book value data. 
Current-dollar value-added data, obtained from BEA, are used in estimating 
capital rental prices.  

Labor input  

Hours at work data reflect Productivity and Costs data as of the November 7,
2024 “Productivity and Costs” news release (USDL-24-2266).

Labor input is obtained by chained superlative Tornqvist aggregation of the
hours at work, classified by age, education, and gender with weights 
determined by each group’s share of total wages. The growth rate of 
labor composition is defined as the difference between the growth rate of
weighted labor input and the growth rate of the hours. 

Energy, materials, and services 

Data on energy, materials, and services are obtained from BEA based on 
BEA annual input-output tables. Tornqvist indexes of each of these three
input classes are derived at the NAICS industry level and then aggregated
to the industries. Materials inputs are adjusted to exclude transactions 
between establishments within the same industry for goods producing 
industries. Services are adjusted to exclude transactions between 
establishments within the same industry for all non-goods producing 
industries. 

Sectoral output  

The output concept used to measure total factor productivity for industries
is “sectoral output”. Sectoral output equals gross output (sales, receipts,
and other operating income, plus commodity taxes plus changes in 
inventories), excluding transactions between establishments within the 
same industry.  

2023 manufacturing output measures are estimated based on historical 
relationships between BLS industrial output, BLS price indexes, and data
on industrial production from the Federal Reserve Board. For select 
service providing industries, output measures are estimated using data 
from the Quarterly Services Survey from the Census Bureau. For all other
nonmanufacturing industries, sectoral output is based on indexes of real
quantity and cost measures from the BEA. Data sources by industry can be 
found at www.bls.gov/opub/hom/msp/data.htm.

Other information  

Detailed information on methods used in this release can be found in the
BLS Handbook of Methods.  Productivity Measures: Business Sector and Major
Sector section at www.bls.gov/opub/hom/msp/home.htm.

Comprehensive tables containing more detailed data than that which is 
published in this news release are available upon request at 202-691-5606 
or at www.bls.gov/productivity/tables. Industry specific contributions to 
output are available at 
www.bls.gov/productivity/highlights/contributions-of-total-factor-
productivity-major-industry-to-output.htm. 

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Last Modified Date: December 04, 2024