The second quarter of 2009 has more states recording positive growth, according to e-forecasting.com. It was just last quarter where NO states had positive growth, and back to 2008Q4 only one state had recorded positive growth: Washington DC with 0.3% growth. In the second quarter of 2009, we see that 25 states recorded positive growth. North Dakota beat out all other states in terms of GDP growth in the second quarter. With a 6.1% growth rate over the previous quarter, it is double the growth of the runner-up: Mississippi. Rounding out the top five are: Vermont, Montana and Washington, DC.
Even with this positive news, the national average growth in the second quarter was –0.7%. That being said, 32 states managed to improve over the previous quarter. On the bottom, West Virginia experienced heavy declines, shrinking 9.5% compared with the first quarter.
According to the economic forecasting organization, taking a look at all the states is useful as you can clearly see by looking at just one chart, not all states are moving in the same direction. This is important for businesses that work in different states, policy experts, managers and more. Differentiating strategies on a state or region basis will help maximize your results.
Notice: This publication is based on information e-forecasting.com believes is reliable. However, e-forecasting.com cannot guarantee its accuracy and is not liable for any damages rising out of its use.
Source: e-forecasting.com newsletter. www.e-forecasting.com. Maria Simos (603) 868-7436 or email: [email protected] All proprietary materials and analysis are copyrighted. © 2009
Vermont third fastest growing state in Q2
Submitted by tim
on