Show-Me State GDP growth outpaces nation

Missouri’s gross domestic product growth rose at a quicker pace in the third quarter than the national average, according to the latest data from the U.S. Bureau of Economic Analysis.

During the quarter, the Show-Me State’s GDP increased 3.2 percent to $306.9 billion compared with the same period a year earlier. The U.S. GDP moved up 2.9 percent to $18.6 trillion, according to a news release.

Missouri’s GDP in the third quarter was the second highest among the seven states in the BEA’s Plains region. The No. 1 state in the Plains region was Minnesota with a third-quarter GDP of $326 billion.

Compared with the same period a year earlier, third-quarter GDP grew in 48 states and Washington, D.C. GDP changes ranged from 7.1 percent in South Dakota to -0.1 percent in New Mexico. Leading the increases in the national GDP was the finance and insurance, wholesale trade and information industries, according to the release.

The BEA defines GDP as the market value of goods and services produced in a state or the country as a whole.

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