Posts Tagged 'GDP by metro area'

Widespread Growth Across Metropolitan Areas

Metro GDP map

  • Real GDP increased in 282 of the nation’s 381 metropolitan areas in 2014, led by widespread growth in professional and business services; finance, insurance, real estate, rental, and leasing; and trade. Natural resources and mining also spurred strong localized growth in several metropolitan areas.
  • Professional and business services and finance, insurance, real estate, rental, and leasing contributed more than 50 percent to real GDP growth in 49 and 39 metropolitan areas, respectively.
  • Profession and business services contributed to growth in 314 of the nation’s 381 metropolitan areas in 2014, most notably in Midland, MI (4.56 percentage points) and San Francisco-Oakland-Hayward, CA (2.05 percentage points).
  • Mining in the Permian Basin and Cline formation led to notable total real GDP growth for Midland, TX (24.1 percentage points) and San Angelo, TX (11.4 percentage points). Mining in the Marcellus shale formation contributed significantly to the 9.5 percent increase in total real GDP for Wheeling, WV-OH.
  • In 2014, Dallas-Fort Worth-Arlington, TX was the fastest growing metropolitan area (8.5 percent) among economies with populations of 500,000 or more. Midland, TX grew the fastest (24.1 percent) of the metro areas with populations of less than 500,000.

For more information, read the full report.

Economic Growth Widespread Across Metropolitan Areas in 2012

• Metropolitan areas accounted for nearly 91 percent of national current-dollar gross domestic product (GDP). The ten largest metropolitan areas accounted for 34 percent of national GDP in 2012, while the smallest 79 metropolitan areas accounted for less than 2 percent of national GDP.0917blog

• Real GDP grew in 305 metropolitan areas. Durable-goods manufacturing, trade, and financial activities led growth in 2012. Durable-goods manufacturing and financial activities contributed more than 50 percent to real GDP growth in 80 and 53 metropolitan areas, respectively.

• Trade contributed to real GDP growth in 363 metropolitan areas. Growth was strongest for metropolitan areas in the Southwest regions such as Odessa, TX.

• Financial activities contributed more than 2 percentage points to overall growth in real GDP in Missoula, MT; Eau Claire, WI; Bloomington, IL; Minneapolis-St. Paul-Bloomington, MN-WI; and Ocean City, NJ.

• In 2012, San Francisco-Oakland-Hayward, CA was the fastest growing metropolitan area (7.4 percent) among economies with real GDP of more than $100 billion. Midland, TX, grew the fastest (14.4 percent) of the metro areas with real GDP of $10–100 billion. Odessa, TX, grew the fastest (14.1 percent) of the metro areas with real GDP of less than $10 billion.

For more information on GDP by metropolitan area, read the full report.

Growth Continues Across the Nation’s Metropolitan Areas

Metropolitan areas accounted for nearly 90 percent of national current-dollar gross domestic product (GDP). The ten largest metropolitan areas accounted for 38 percent of national GDP in 2011, while the smallest 79 metropolitan areas accounted for 2 percent of national GDP.metro_area_0213

  • Real GDP grew in 242 of the 366 MSAs. Professional and business services, durable-goods manufacturing, and trade led growth in 2011. Professional and business services contributed more than 50 percent to real GDP growth in 57 metropolitan areas. Growth in this sector was strongest for metropolitan areas in the New England and Far West regions, such as Worcester, MA, and San Francisco-Oakland-Fremont, CA.
  • Many metropolitan areas in the Great Lakes region experienced strong growth in durable-goods manufacturing in 2011. Growth in this sector contributed more than 6 percentage points to growth in Kokomo, IN, and Columbus, IN.
  • Trade contributed 1 percentage point or more to overall growth in real GDP in Odessa, TX, Logan, UT-ID, WA, and Midland, TX.
  • In 2011, San Jose-Sunnyvale-Santa Clara, CA, was the fastest growing metropolitan area (7.7 percent) among economies with real GDP of more than $100 billion. Midland, TX, grew the fastest (9.5 percent) of the metro areas with real GDP of $10–100 billion. Odessa, TX, grew the fastest (15.2 percent) of the metro areas with real GDP of less than $10 billion.

For more information on GDP by metropolitan area, read the full report.