GDP By State Improves
The picture of Gross Domestic Product state-by-state changed dramatically for the third quarter of 2016. After a year of negative or minuscule quarter-over-prior quarter GDP growth reports for half of the U.S., the trend reversed course with 40 states reporting more than 2% increases. The Bureau of Economic Analysis (BEA) credits finance and insurance, wholesale trade, and information sectors as the leading contributors to quarter-over-prior-quarter GDP growth in 48 states during the third quarter. National GDP showed an impressive increase of 3.5% growth for the third quarter.
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