10 States That Enjoy the Highest Economic Growth
A new report from the U.S. Bureau of Economic Analysis confirms that the United States is seeing continued widespread economic growth. Of the country’s 50 states, 49, along with the District of Columbia, showed an increase in real gross domestic product in 2012, and durable-goods manufacturing, finance and insurance, and wholesale trade were among the main contributors cited. While the country’s GDP by state saw a 1.6 growth from 2011, this figure increased in 2012 when it posted a 2.5-percent growth. The BEA divides the nation into eight regions — New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West. Although the Southwest grew the fastest, as you will see from our list, the states with the largest increase in growth come from a variety of regions. Here’s a look at the 10 states that have seen the maximum fruits of economic growth lately:
10. West Virginia
Country roads take us home to West Virginia, the state which posts the 10th highest percent change in GDP at 3.3 percent in 2012. That increase ties it with Tennessee for the highest growth out of all other states in the Southeast region, and the others fail to come close.
West Virginia has demonstrated continued expansion ever since its rebound from 2009 — posting a similar 3.3-percent growth figure in 2010. It managed to stay above water in 2009 — with 0.6 percent growth — at a time when most states fell into the negatives, and also posted an impressive 1.9-percent increase in 2011.