Wisconsin ranks last among neighboring states in 2012 GDP growth - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Wisconsin ranks last among neighboring states in 2012 GDP growth

MADISON (WKOW) -- A new report shows Wisconsin's economy grew at 1.5% in 2012, placing it behind all of its neighboring states.

The U.S. Department of Commerce's Bureau of Economic Analysis released a report on the gross domestic product (GDP) of all 50 states in 2012, showing Wisconsin ranked 32nd overall and last in the five-state Great Lakes Region.

A state's GDP represents the value of all goods and services produced within its borders.

The Great Lakes Region includes Indiana, which saw its GDP grow by 3.3% in 2012.  Michigan and Ohio each grew by 2.2%, while Illinois grew by 1.9%.

Minnesota and Iowa are in the Plains Region, but both grew at a much higher rate than Wisconsin.  Minnesota's GDP increased by 3.5%, good for 5th nationwide.  Iowa's GDP grew at 2.4%.

North Dakota saw the largest increase in GDP in 2012, finishing with a whopping 13.4% gain.  Texas was second at 4.8%.

Connecticut experienced the slowest GDP growth of any state at -0.1%, the only state to post a loss.

Wisconsin's 1.5% GPD growth rate is up from 1.1% in 2011, but the state's overall ranking dropped from 29th to 32nd.

Indiana and Ohio were tied with Wisconsin at 1.1% in 2011, but Indiana tripled its growth rate in 2012, while Ohio doubled theirs.  Minnesota nearly tripled its 2011 growth rate of 1.2%.

You can find a link to the BEA report here.

 

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