Finance and Insurance Led Growth Across States in the Fourth Quarter
Real gross domestic product (GDP) increased in every state and the District of Columbia in the fourth quarter of 2016, according to statistics on the geographic breakout of GDP released today by the U.S. Bureau of Economic Analysis. Real GDP by state growth ranged from 3.4 percent in Texas to 0.1 percent in Kansas and Mississippi (table 1 and chart 1). Finance and insurance; retail trade; and professional, scientific, and technical services were the leading contributors to U.S. economic growth in the fourth quarter.
Finance and insurance grew 6.3 percent in the fourth quarter of 2016. This industry contributed to growth in 49 statesRead More »