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What the numbers say: The information industry (which includes media, computer programming, system design, data processing, and telecommunications) contributes significantly more to the gross domestic product (GDP) of the U.S. than it did ten years ago. Primary and secondary sectors like mining and manufacturing have seen far less growth, while the government's overall contribution to the country's GDP barely grew at all. Relevance: The rise of information in the U.S. economy is driven by technological change. These innovations can have radical effects on job markets, public infrastructure, and even politics. The Brookings Institution think tank notes that innovations in America's information industry are pivotal for the country's continued ability to project unmatched power on the world stage. Brands that should care: Hardware manufacturers and companies in the primary and secondary sectors, which are facing slower growth, should explore ways to harness the power of the information industry to increase their profit margins and find new revenue streams. |
