BEA News: Gross Domestic Product by Metropolitan Area, 2016

The U.S. Bureau of Economic Analysis (BEA) issued the following news release on September, 20 2017:
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Wed  20 Sept 2017
Gross Domestic Product by Metropolitan Area, 2016



Real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016. Real GDP by metropolitan area growth ranged from 8.1 percent in Lake Charles, LA and Bend-Redmond, OR to –13.3 percent in Odessa, TX.
Real GDP for U.S. metropolitan areas grew 1.7 percent in 2016, led by growth in professional and business services
information services
finance, insurance, real estate, rental, and leasing.
The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/regional/gdp_metro/gdp_metro_newsrelease.htm 
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GDP SW Region included

 

Highlights

• Professional and business services grew 2.7 percent across the nation's metropolitan areas in 2016 (table 3). This industry contributed to growth in 273 metropolitan areas, most notably in Oshkosk-Nennah, WI and Ocala, FL, which grew 2.6 percent and 5.0 percent, respectively.
• Information services grew 6.5 percent. This industry contributed to growth in 260 metropolitan areas, and was the leading contributor to growth in Provo-Orem, UT and Seattle-Tacoma-Bellevue, WA, which grew 6.1 percent and 4.3 percent, respectively.
• Finance, insurance, real estate, rental, and leasing grew 1.2 percent. This industry contributed to growth in 217 metropolitan areas, and made major contributions to growth in Elizabethtown-Fort Knox, KY and Saint Cloud, MN, which grew 4.6 percent and 5.3 percent, respectively.
• Natural resources and mining declined 5.3 percent. This industry subtracted from growth in 169 metropolitan areas. Notable declines in this industry occurred in Odessa, TX (-13.3) and Casper, WY (-11.6).

 

Updates to Gross Domestic Product by Metropolitan Area

In addition to the statistics presented in this news release, BEA also revised GDP by metropolitan area statistics for 2001–2015. Updates incorporated revised earnings data from BEA's Local Area Personal Income release published in November 2016.

More metropolitan area highlights can be found on the regional highlights pages that accompany this release.

 

 

 

 

 

Next release – September 2018 for: Gross Domestic Product by Metropolitan Area, 2017

 

GDP by Metropolitan Area, 2016

Highlights for GDP by Metropolitan Area

Links >

1. https://www.bea.gov/newsreleases/regional/gdp_metro/2017/pdf/gdp_metro0917_SW_Highlights.pdf

 

2. https://www.bea.gov/newsreleases/regional/gdp_metro/2017/gdp_metro0917_highlights.htm