Widespread Growth Across Metropolitan Areas

Percent Change in Real GDP by Metropolitan Area

 

  • Real GDP increased in 292 of the nation’s 381 metropolitan areas in 2013, led by widespread growth in finance, insurance, real estate, rental, and leasing; nondurable-goods manufacturing; and professional and business services. Natural resources and mining also spurred strong localized growth in several metropolitan areas.
  • Finance, insurance, real estate, rental, and leasing and nondurable-goods manufacturing contributed more than 50 percent to real GDP growth in 61 and 46 metropolitan areas, respectively.
  • Professional and business services contributed to growth in 245 of the nation’s 381 metropolitan areas in 2013, most notably in Fayetteville-Springdale-Rogers, AR-MO (3.33 percentage points) and Janesville-Beloit, WI (2.61 percentage points).
  • Mining in the Utica and Marcellus shale formations led to notable contributions to growth for natural resources and mining in Beckley, WV (11.49 percentage points); Wheeling, WV-OH (8.50 percentage points); and Charleston, WV (3.63 percentage points). Mining in the Niobrara shale formation
    contributed significantly to the 10.1 percent increase in total real GDP for Greeley, CO.
  • In 2013, Baton Rouge, LA was the fastest growing metropolitan area (6.5 percent) among economies with populations of 500,000 or more. Mount Vernon-Anacortes, WA grew the fastest (10.6 percent) of the metro areas with populations of less than 500,000.

Read the full report here.


Enter your email address to follow this blog and receive notifications of new posts by email.

Archives


%d bloggers like this: