Real gross domestic product (GDP) edged down 0.1% in May for the second consecutive month, as goods-producing industries declined while services-producing industries were essentially unchanged.
The goods-producing industries edged down in May, driven primarily by a contraction in the mining, quarrying and oil and gas extraction sector, while the manufacturing sector expanded in the month. The services-producing industries were essentially unchanged, as real estate, rental and leasing and transportation and warehousing posted increases while retail trade and public administration contracted. Overall, 7 of 20 industrial sectors expanded in May.
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