Economic growth slowed during 2007
Published June 5, 2008 by CSBJ Staff
New estimates released today by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. last year and that Colorado ranked 10th in the nation for real gross domestic product.
Real GDP growth slowed in 36 states, with declines in construction and finance and insurance restraining growth in many states. Nationally, real economic growth slowed from 3.1 percent in 2006 to 2 percent in 2007, one percentage point below the average growth of 3 percent for 2002 to 2006.
Colorado ranked 10th in the nation in real GDP, at $40,805 per capita. Delaware led the nation, at $56,496, while Mississippi lagged at $24,477.
Colorado’s GDP grew at a rate of 2 percent during 2007-precisely the national average. Utah, at 5.3 percent, was the fastest-growing state.
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