Professional and Business Services Led Growth Across Metropolitan Areas in 2016
Real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016 according to statistics on the geographic breakout of GDP released today by the Bureau of Economic Analysis. Real GDP by metropolitan area growth ranged from 8.1 percent in Lake Charles, LA and Bend-Redmond, OR to -13.3 percent in Odessa, TX (table 2).
Real GDP for U.S. metropolitan areas grew 1.7 percent in 2016, led by growth in professional and business services; information services; and finance, insurance, real estate, rental, and leasing.
Professional and business services grew 2.7 percent across the nation’s metropolitan