Mining review

The average annual growth rate of real gross domestic product (GDP) from the third quarter of 2001 through the second quarter of 2003 in the United States was about 2.6 percent. GDP growth rates in the third and fourth quarters of 2003 were about 8 percent and 4 percent, respectively. The upward trends in many sectors of the U.S. economy in 2003, however, were shared by few of the mineral materials industries. Annual output declined in most nonfuel mining and mineral processing industries, although there was an upward turn toward yearend as prices began to increase.