Economic Slowdown Widespread Among States in 2008

Source: Bureau of Economic Analysis, Press Release, BEA 09–22, June 2, 2009

New statistics released today by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. in 2008 as economic growth overall slowed. Real GDP growth slowed in 38 states, with downturns in construction, manufacturing, and finance and insurance restraining growth in many states. Growth in real U.S. GDP by state slowed from 2.0 percent in 2007 to 0.7 percent in 2008.

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