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Dayton Business Journal...
Ohio’s economic
growth lagged neighbors last year
Monday, June 13, 2011
New figures from the U.S. Bureau of Economic Analysis compiled by The
Business Journals, the online arm of the Dayton Business Journal parent
American City Business Journals, show Ohio’s gross state product – the
dollar value of its goods and services – hit $426.1 billion last year.
That’s up 2.1 percent from $417.3 billion in 2009.
Figures are adjusted to 2005 levels, which allows for direct
comparisons without the misleading impact of inflation.
The typical state in 2010 saw its GSP grow 2.6 percent, placing Ohio
below average and 26th for growth even though its output is the
eighth-most-valuable in the nation. In total, 48 of 50 states enjoyed
economic growth last year, North Dakota leading the pack with a 7.1
percent gain. New York was next with an increase of 5.1 percent,
ticking past the $1 trillion mark.
All of Ohio’s neighboring states saw faster GSP growth in 2010, led by
Indiana at 4.55 percent. West Virginia and Kentucky saw growth of
between 3 percent and 4 percent, while Michigan was just shy of 3
percent.
Fourteen states experienced economic growth of 3 percent or more
between 2009 and 2010.
The only states to decline in 2010 were Nevada and Wyoming, which were
down 0.2 percent and 0.3 percent, respectively.
Check out the sortable database at the bottom of the Business Journals
story, which features state-by-state details and rankings.
Read it with links at Dayton Business Journal
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