5 fastest growing (and shrinking) states by GDP

A new report from the U.S. Bureau of Economic Analysis offers a state-by-state breakdown of real gross domestic product last year. North Dakota saw the largest GDP gain in 2011, up 7.6 percent, while Wyoming experienced the steepest decline (-1.2 percent).

By David Barista, Editor-in-Chief, Professional Builder | June 8, 2012
5 fastest growing (and shrinking) states by GDP

A new report from the U.S. Bureau of Economic Analysis offers a state-by-state breakdown of real gross domestic product last year. North Dakota saw the largest GDP gain in 2011, up 7.6 percent, while Wyoming experienced the steepest decline (-1.2 percent).

The economies in all but six states expanded in 2011, led by North Dakota and Oregon. Other big gainers were West Virginia, Texas, and Alaska.

(Click for interactive map)

Real gross domestic product by state grew 1.5 percent on average last year,  down from 3.1 percent in 2010, according to the report, which was summarized by CNN Money.

Here are the top five fastest-growing and fastest-shrinking states:

Fastest growing
North Dakota: 7.6 percent
Oregon: 4.7 percent
West Virginia: 4.5 percent
Texas: 3.3 percent
Alaska: 2.5 percent

Fastest shrinking
Wyoming: -1.2 percent
Mississippi:  -0.8 percent
Alabama: -0.8 percent
New Jersey: -0.5 percent
Maine: -0.4 percent

For more, including an interactive map, see the CNN Money recap.

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