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In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction.
Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary and secondary sectors and more emphasis on the tertiary sector. The less developed countries exhibit the inverse pattern.
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
This is the list of countries by purely nominal gross domestic product (GDP) sector composition. By economic sector. Nominal GDP sector composition (November 2024)
S&P Global's flash US composite PMI, which captures activity in both the services and manufacturing sectors, came in at 56.6 in December, up from 54.9 in August. Economists had expected the index ...
In the three-sector model of the economy, widely used in the 20th century, the service sector was assigned the role of transporting, distributing and selling goods produced in the manufacturing (secondary sector), and was therefore described as the tertiary sector of the economy. [citation needed]
Secondary sector of the economy is included in the JEL classification codes as JEL: L6 The main article for this category is Secondary sector of the economy . Subcategories