North Dakota, Oregon Had Strong GDP in 2011

In 2011, North Dakota and Oregon enjoyed strong gross domestic product growth, but Wyoming, Mississippi and Alabama suffered shrinking economies.

That was among the findings of a study released by the U.S. Bureau of Economic Analysis on Tuesday.

In 2011, North Dakota had 7.6% real GDP growth, the best of any state. Oregon came in second with 4.7%. Real GDP growth is adjusted for inflation.

The bureau estimated the United States had a real GDP “by state” growth of 1.5% in 2011. The figure may differ from national income and product account figures because, among other things, it excludes military and civilian activity oversees. It followed a 3.1% growth rate in 2010.

The states with the worst economic experience were Wyoming, with negative 1.2%, and Mississippi and Alabama, each with a negative 0.8%. New Jersey, with negative 0.5%, Maine with negative 0.4% and Hawaii with negative 0.2% also had contracting economies.

Fiscal health varied within each U.S. region. However, the Southwest did the best, with a 2.7% growth rate. It was led by Texas’ 3.3%. The Far West did second best at 2.1%. The Mid-Atlantic region and the Southeast did the worst with 0.9% each.

Real GDP grew in 42 states, declined in six and remained basically flat in two.

“Many states are still not participating in the U.S. economic recovery and only a handful are experiencing any meaningful growth,” wrote RBC director of municipal bond research Chris Mauro. “The recent trend of slowing growth in the overall U.S. economy is a worrisome development for the economic and fiscal outlook for those states still struggling to shake off the ill-effects of the recent recession.”

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Washington
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