State economy grew at a decent-but-not-stupendous pace in 2011

California's gross domestic product was 2 percent, according to the Bureau of Economic Analysis, which is better than some (New York, Illinois, Pennsylvania, Florida among them) but well below others (Texas, Oregon, North Dakota, Alaska among them). Six states showed negative growth: Wyoming, Mississippi, Alabama, New Jersey, Maine and Hawaii. Overall GDP by state grew 1.5 percent in 2011, down from 3.1 percent the year before. California's growth points to a continued push-pull: The positive effects of the information industry versus the negative effects of a still-struggling housing market. And let's keep in mind that these are 2011 numbers. From CNNMoney:

Manufacturing, information and professional services were the leading contributors to growth across the nation. Dragging down the economies were utilities and real estate rental and leasing, mainly because of weakness in the commercial space and declines in broker commissions. The states with the strongest economic growth benefited from oil and gas drilling (North Dakota, West Virginia, Texas and Alaska) and from the rebound in manufacturing (Michigan, California, Oregon).

GDPstate.jpg


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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