According to the US Department of Commerce?s (DoC?s) 2003 Digital Economy report, the fifth annual study of its kind, the gross domestic product of US IT-producing industries this year will be over $871 billion. The DoC explains that such industries contribute to roughly 8% of overall GDP in the country. The DoC notes that the software and services industry is the IT-producing industry that will output the most this year with over $328 billion in GDP. The hardware industry, however, will experience the greatest growth in output over last year rising by 9.8%.