Indiana GDP Grew By 2.1% In 2013
By Mike Perleberg
(Undated) – Indiana joined most other states is expanding its economy in 2013.
The Bureau of Economic Analysis reports that the state’s gross domestic product grew at 2.1 percent last year. That was the 19th largest increase in the country and ahead of the national increase of 1.8 percent.
Contributing most to the growth in Indiana and nationally was an increase in nondurable goods manufacturing. Declining sectors in Indiana included mining, construction, and government.
Indiana’s per capita GDP of $44,775 was still below average, ranking 30th in the nation. The national per capita GDP was $49,115.
In neighboring states, GDP grew by 2.0 percent in Michigan, 1.8 percent in Ohio, 1.6 percent in Kentucky, and 0.9 percent in Illinois.
The bureau defines real GDP by state as an inflation-adjusted measure of each state’s production based on national prices for those goods and services produced within each state.
The BEA’s GDP by state report can be found online at http://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm.