Wyoming State GDP ranked 50th in nation

2011-06-11T23:45:00Z Wyoming State GDP ranked 50th in nation

Casper Star-Tribune

The Billings Gazette
June 11, 2011 11:45 pm  • 

CASPER, Wyo. — Wyoming’s real gross domestic product in 2010 declined by 0.3 percent and earned the state a national ranking of 50th, according to estimates released last week by the U.S. Bureau of Economic Analysis.

But per capita real GDP for the state reached $61,049 in 2010, trailing only Alaska and Delaware, according to Jim Robinson, senior economist for the state’s Economic Analysis Division.

Real GDP is the value of a state’s production of goods and services in a given period of time that has been adjusted for inflation.

Real GDP grew in 48 states in 2010, with Nevada joining Wyoming as the only states to incur declines. North Dakota had the highest real GDP growth for the year at 7.1 percent, while the U.S. average was 2.6 percent, the bureau stated in a press release.

“Notable declines in real GDP contributions from the nondurable-goods manufacturing and mining industries drove overall real GDP down in 2010 for Wyoming,” Robinson said.

Of the 21 industries that the BEA follows, real GDP associated with government and retail trade provided the largest boost but not enough to offset declines from other industries in the state.

“Overall, there wasn’t much of change for the state in real GDP growth. Wyoming was able to hang on to the gains that were made in 2009 while other states were finally starting to recover from the recession,” Robinson said.

Real GDP for the Rocky Mountain region, which includes Wyoming, Colorado, Idaho, Montana, and Utah, grew at a slower pace of 1.4 percent. Idaho improved the most in the region with growth of 2.0 percent and ranked 30th in the nation, followed by Utah, Colorado, Montana and Wyoming.

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