Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

6/12/2012 (2 years ago)

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.

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.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

6/12/2012 (2 years ago)

Published in Business & Economics

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


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)

.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2014
Peace:
That the Lord may grant peace to those parts of the world most battered by war and violence.
World Mission Day: That World Mission Day may rekindle in every believer zeal for carrying the Gospel into all the world.



Comments


More Business & Economics

Is it a sign of impending collapse? Financial savant Warren Buffett loses two billion in stock market Watch

Image of Warren Buffett recently lost $2 billion from investments in Coke and IBM, which have led some to believe that a stock market slowdown might be imminent.

By Catholic Online (NEWS CONSORTIUM)

Warren Buffett, the man known for focusing on long-term investment performance as apposed to making the quick buck, has lost $2 million in investments. LOS ANGELES, CA (Catholic Online) - Buffett owned Berkshire Hathaway investment house has large investments in ... continue reading


Christmas shopping in October? Apparently it's becoming a big deal Watch

Image of Shoppers are already out, despite the fact Halloween hasn't even arrived.

By Catholic Online (NEWS CONSORTIUM)

Shoppers are starting early with October 5 being declared by retailers as "Stock Up Saturday." Consumers are already Christmas shopping which means more of the revenue available to retailers will be harvested earlier in the shopping season. For retailers that choose to ... continue reading


List of Top 20 World Brands - Apple tops Google as world's leading brand for second time in row Watch

Image of The Apple Watch has enjoyed success in numerous fashion circles, featured on the cover of Vogue, among others.

By Catholic Online (NEWS CONSORTIUM)

Apple has topped Google as the world's most valuable brand for the second year in a row. The two companies are the only brands to be valued at more than $100 billion, according to the annual Best Global Brands report. LOS ANGELES, CA (Catholic Online) - ... continue reading


Here they come! China passes U.S. economy based on purchase power Watch

Image of Under President Obama's administration, China may surpass the U.S. economy.

By Catholic Online (NEWS CONSORTIUM)

The International Monetary Fund (IMF) has reported that China has overtaken the United States and is now the world's largest economy, at least based on purchasing power parity (PPP). LOS ANGELES, CA (Catholic Online) - The IMF said that by the end of 2014, China ... continue reading


Rosie the Riveter would cry: Record 55,553,000 women not participating in U.S. workforce Watch

Image of The strides made by women in the workplace sadly isn't reflected in recent job statistics.

By Catholic Online (NEWS CONSORTIUM)

The strides made by women in the workplace seems to have gone up in smoke across the United States. The determined visage of Rosie the Riveter during World War II to women taking the place of men in hard industry - declaring "We can do it!" would certainly shed ... continue reading


400 wealthiest Americans now worth cumulative $2.3 TRILLION Watch

Image of Facebook founder Mark Zuckerberg has finally cracked America's most wealthy top ten at tenth place.

By Catholic Online (NEWS CONSORTIUM)

The rich, indeed get richer -- America's wealthiest are worth more than ever before. The United States' top 400 billionaires are now worth a dazzling $2.3 trillion, according to the latest edition of the Forbes 400. LOS ANGELES, CA (Catholic Online) - It comes ... continue reading


Record debt coupled with slow growth point to economic crisis, Geneva Report says Watch

Image of The Geneva Report says the rapid rise of public sector debt in rich countries and private debt in emerging markets, especially China, may lead to0 fresh economic crisis.

By Catholic Online (NEWS CONSORTIUM)

Record debt and slowing economic growth suggest the global economy could be heading for another crisis, the 16th annual Geneva Report warns. Commissioned by the International Center for Monetary and Banking Studies, the report predicts interest rates across the ... continue reading


Walmart to enter banking world with low-cost checking accounts Watch

Image of Walmart has been eying financial services for some time now.

By Catholic Online (NEWS CONSORTIUM)

Walmart is making its biggest venture into the banking world after several failed attempts in the past. The nation's largest retailer is joining Green Dot, already known for its prepaid payment cards, to supply checking accounts to nearly everyone over 18 years ... continue reading


The Chinese are coming! E-commerce giant Alibaba cleans house with its initial public offering Watch

Image of Chinese e-commerce giant Alibaba has raised more than $21 billion with its IPO, with stocks priced at $68 per share, signaling a strong demand for the tech-giant.

By Catholic Online (NEWS CONSORTIUM)

The Chinese e-commerce giant Alibaba has made the largest U.S.-listed initial public offering (IPO) of all time, with stocks priced at $68 per share, signaling a strong demand. LOS ANGELES, CA (Catholic Online) - Only large investors, like hedge funds, can ... continue reading


Bottom of the Barrel - Thanks to business tax, the U.S. is Number 32 in the world Watch

Image of A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high

By Catholic Online (NEWS CONSORTIUM)

A new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. So says the Wall Street Journal, the nation's leading journal on business. The White House and Sen. Charles Schumer (D., N.Y.) will attempt ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Ephesians 3:2-12
2 You have surely heard the way in which God ... Read More

Psalm, Isaiah 12:2-3, 4, 5-6
2 Look, he is the God of my salvation: I shall have ... Read More

Gospel, Luke 12:39-48
39 You may be quite sure of this, that if the ... Read More

Saint of the Day

Saint of the Day for October 22nd, 2014 Image

St. Pope John Paul II
October 22: Karol J. Wojtyla, known as John Paul II since his October 1978 ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter