Springfield-area GDP rises 1.4%

The 2010 gross domestic product for the Springfield metropolitan statistical area increased 1.4 percent to $14.3 million, compared to $14.1 million in 2009, according to data released yesterday by the U.S. Bureau of Labor Statistics.

With the increase, the Springfield MSA's 2010 rank is 137 among the 366 metropolitan areas in the country. Out of five, the Springfield MSA is in the second-lowest quintile for percent change by metropolitan area.

Nationally, the GDP by metropolitan area increased by 2.5 percent in 2010.

Real GDP by metropolitan area is an inflation-adjusted measure of each area’s gross product based on national prices for the goods and services produced.

GDP increased in 304, or 83 percent, of the nation's metropolitan areas in 2010, the release said.
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