And the winner is? Handful of states spurs on U.S. economic growth

By Catholic Online (NEWS CONSORTIUM)
6/12/2012
Catholic Online (www.catholic.org)

Nation's economy continues to grow, just not as quickly

There's been lots of negative economic news as of late that obscures the fact that the United States' economy continues to grow. The economy is growing, although not as fast as last year - 1.5 percent as compared to 2011's 3.1 percent - and a handful of states are fueling this ongoing growth.

In North Dakota, this had the largest GDP increase, the number of employed people in the state increased by 4.8 percent, the biggest relative increase in the country.

Facebook Delicous MySpace

Twitter Stumble Digg

More Destinations

LOS ANGELES, CA (Catholic Online) - The biggest contributions to the nation's economic growth were professional, scientific and technical services and the information sector. These fields represented 24.7 percent and 14.7 percent of total U.S. GDP growth, respectively.

Durable goods manufacturing remains the most vital growth industry in the U.S. Manufacturing contributed to nearly a third of U.S. GDP growth. An analysis by 24/7 Wall St. examined 11 states with the largest GDP growth in the in the nation for 2011.

The real GDP of 11 states grew by at least a two percent last year. Some of these states, such as North Dakota, Utah, Texas and Alaska, showed economic strength throughout the recession, while other states proved a reversal of shrinking economies and hard times during the recession. The economies of California and Michigan in particular have weathered hardships for the past few years.

According to 24/7 Wall St., the states with the biggest GDP increases run the gamut from the largest in the country such as California to the third-least populous, North Dakota.

In North Dakota, this had the largest GDP increase, the number of employed people in the state increased by 4.8 percent, the biggest relative increase in the country. The next three biggest relative increases - Utah, Texas, and Michigan - all experienced 2 percent or higher GDP growth.

The five states with the largest growth in GDP:

1. North Dakota
GDP growth: 7.6 percent
Real 2011 GDP: $34.262 billion (5th lowest)
Population change: +1.38 percent (3rd highest)
Percent increase in employment: 4.8 percent (the highest)

2. Oregon
GDP growth: 4.7 percent
Real 2011 GDP: $186.228 billion (25th highest)
Population change: +0.87 percent (16th highest)
Percent increase in employment: 1.0 percent (tied-21st highest)

3. West Virginia
GDP growth: 4.5 percent
Real 2011 GDP: $55.765 billion (11th lowest)
Population change: +0.05 percent (3rd lowest)
Percent increase in employment: 1.0 percent (tied-21st highest)

4. Texas
GDP growth: 3.3 percent
Real 2011 GDP: $1.149908 trillion (2nd highest)
Population change: +1.67 percent (The highest)
Percent increase in employment: 2.1 percent (3rd highest)

5. Alaska
GDP growth: 2.5 percent
Real 2011 GDP: $44.702 billion (7th lowest)
Population change: +1.2 percent (6th highest)
Percent increase in employment: 1.1 percent (tied-15th highest)

� 2012, Catholic Online. Distributed by NEWS CONSORTIUM.

- - -

Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.

Keywords: Economic growth, U.S., North Dakota, Alaska, California

NEWSLETTERS »

Rate This Article

Was this helpful to you? Very Helpful Somewhat Helpful Not Helpful at All

Would you be interested in more articles like this? Yes, I am Interested No, I am not Interested

Rate Article

0 Comments

Comments submitted must be civil, remain on-topic and not violate any laws including copyright. We reserve the right to delete any comments which are abusive, inappropriate or not constructive to the discussion.

Though we invite robust discussion, we reserve the right to not publish any comment which denigrates the human person, undermines marriage and the family, or advocates for positions which openly oppose the teaching of the Catholic Church.

This is a supervised forum and the Editors of Catholic Online retain the right to direct it.

We also reserve the right to block any commenter for repeated violations. Your email address is required to post, but it will not be published on the site.

We ask that you NOT post your comment more than once. Catholic Online is growing and our ability to review all comments sometimes results in a delay in their publication.

Name *

Email *

Comment *

Send me important information from Catholic Online and it's partners. See Sample

Post Comment

More Business & Economics News

Featured News

Disclaimer: The columns, articles, advertisers claims and any other features provided on Catholic Online Business & Economics are provided for personal finance and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of Catholic Online and there is no implied endorsement by Catholic Online of any advice or trading strategy.