Between 1988 and 2023, the U.S. IT sector generated about 45% of private-business TFP growth while representing about 8% of private-business value added.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 10: BUILDING-BLOCK REALITY Symbiotic, Rather than Adversarial

"Between 1988 and 2023, the U.S. IT sector generated about 45% of private-business TFP growth while representing about 8% of private-business value added."

The Chicago Fed finds that the IT sector contributed roughly 45% of aggregate private-business TFP growth over 1988-2023 while averaging only about 8% of private-business value added.

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Source title Concentrated Growth: The Role of the IT Sector

Source authors Joel M. David; Gustavo de Souza; Adalyn G. Schommer

Source year 2025

Confidence high

Importance high