GDP Gains Are Highest in Western States

According to MarketWatch, many Western states saw GDP gains that were higher than the national average in the first quarter of 2018.

The Bureau of Economic Analysis found that the U.S. GDP grew 2 percent in the first quarter of this year. In comparison, many Western states, including Washington (3.6 percent), Utah (3.2 percent), South Dakota (3.1 percent), Colorado (3 percent), and Texas (2.9 percent) saw much greater gains.

At the other end of the spectrum, North Dakota was the only state to experience a decline in GDP, falling 0.6%. The state’s growth has exploded in recent years owing to a surge in oil production via fracking. Lower oil prices early in the year caused a temporary dip in energy extraction and related construction.

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