The Bureau of Economic Analysis released GDP growth by state today, showing Louisiana ranking in the bottom 40% and Mississippi in the bottom 20%, among all 50 states. Broken into quintiles, or 5 groups with 20% each, Louisiana ranked in the 2nd quintile and Mississippi in the lowest quintile. The map below shows GDP growth by state with the highest growth shown in the dark blue states and the slowest growth shown in the orange states. GDP increased in 43 states and overall US GDP grew in 2011 by 1.5% compared to 2010 which grew by 3.1% over 2009.
Broken down into regions, GDP growth was highest in the Southwest region with 2011 GDP growth of 2.7%, led by Texas with a 3.3% GDP growth in 2011 over 2010.
In our Southeast region, the highest 2011 GDP growth was in West Virginia with 4.5% growth, followed by Tennessee, North Carolina and Georgia.
Louisiana experienced the fastest GDP growth in 2010 at 9.4% compared to US growth of 3.1%. In 2011, Louisiana ranked 36 and experienced growth of .5%, compared to the US GDP growth of 1.5%.
Contributions to Louisiana GDP growth came mostly from mining and finance sectors, with government and non-durable goods manufacturing experiencing the highest decline.
copyright 2012. Louisiana Commercial Realty. LLC.New Orleans’ Commercial Real Estate.