10 States had Remarkable Growth in 2013, Even With the Nation Lagging
Friday, June 13th, 2014 -- 10:18 AM
-The United States economy grew 1.9% in 2013, down from the 2.8% growth rate in 2012, as growth in the world?s largest economy remained inconsistent.The largest contributors to the national economy were nondurable goods manufacturing, real estate and leasing, as well as agriculture and related industries. While the U.S. economy grew less than 2%, the output of a number of states grew well in excess of 3% last year.
There were considerable differences in what drove national growth and what drove output in the fastest growing states, according to Cliff Woodruff, an economist at the BEA. ?For the nation, it was nondurable goods manufacturing and agriculture, forestry, fishing and hunting [that] were the top two contributors to national growth,? Woodruff said.
On the other hand, in ?five of the top states, growth was primarily a result of mining,? which includes oil, natural gas and coal production. The top 10 states with the highest growth last year, going from number 10 to number 1, include Nebraska, South Dakota, Texas, Utah, Colorado, Idaho, Oklahoma, West Virginia, Wyoming and North Dakota.
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