Monday, July 15, 2013

WIDESPREAD ECONOMIC GROWTH IN 2012

Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2012, according to new statistics released today by the U.S. Bureau of Economic Analysis (BEA) that breakdown GDP by state.1 Durable–goods manufacturing, finance and insurance, and wholesale trade were the leading contributors to real U.S. economic growth. U.S. real GDP by state grew 2.5 percent in 2012 after a 1.6 percent increase in 2011.

Real GDP increased in all eight BEA regions in 2012, with growth accelerating in seven of eight regions. The Great Lakes region was the only region where growth decelerated relative to growth in 2011. The Southwest region grew the fastest (4.1 percent), led by Texas with a 4.8 percent increase. 

READ MORE:  http://www.bea.gov/newsreleases/regional/gdp_state/2013/gsp0613.htm

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