Gross Domestic Product by Metropolitan Area, 2016

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Home > News Release: Gross Domestic Product by Metropolitan Area

Professional and Business Services Led Growth Across Metropolitan Areas successful 2016

Real gross home merchandise (GDP) accrued successful 267 retired of 382 metropolitan areas successful 2016 according to statistic connected nan geographic breakout of GDP released coming by nan Bureau of Economic Analysis. Real GDP by metropolitan area maturation ranged from 8.1 percent successful Lake Charles, LA and Bend-Redmond, OR to -13.3 percent successful Odessa, TX (table 2).

Percent Change successful Real GDP by Metropolitan Area

Real GDP for U.S. metropolitan areas grew 1.7 percent successful 2016, led by maturation successful master and business services; accusation services; and finance, insurance, existent estate, rental, and leasing.

Highlights

Professional and business services grew 2.7 percent crossed nan nation's metropolitan areas successful 2016 (table 3). This manufacture contributed to maturation successful 273 metropolitan areas, astir notably successful Oshkosk-Nennah, WI and Ocala, FL, which grew 2.6 percent and 5.0 percent, respectively.
Information services grew 6.5 percent. This manufacture contributed to maturation successful 260 metropolitan areas, and was nan starring contributor to maturation successful Provo-Orem, UT and Seattle-Tacoma-Bellevue, WA, which grew 6.1 percent and 4.3 percent, respectively.
Finance, insurance, existent estate, rental, and leasing grew 1.2 percent. This manufacture contributed to maturation successful 217 metropolitan areas, and made awesome contributions to maturation successful Elizabethtown-Fort Knox, KY and Saint Cloud, MN, which grew 4.6 percent and 5.3 percent, respectively.
Natural resources and mining declined 5.3 percent. This manufacture subtracted from maturation successful 169 metropolitan areas. Notable declines successful this manufacture occurred successful Odessa, TX (-13.3) and Casper, WY (-11.6).

Large Metropolitan Area Highlights

Of nan ample metropolitan areas, those pinch organization greater than 2 million, San Francisco-Oakland-Hayward, CA (5.4 percent) and Austin-Round Rock, TX (4.9 percent) were nan fastest increasing metropolitan areas. Real GDP maturation successful San Francisco-Oakland-Hayward, CA was led by maturation successful finance, insurance, existent estate, rental, and leasing, while maturation successful Austin-Round Rock, TX was led by master and business services.
The only ample metropolitan area that declined was Houston-The Woodlands-Sugar Land, TX (-3.0 percent). The existent GDP diminution successful Houston-The Woodlands-Sugar Land, TX was led by a diminution successful earthy resources and mining.

Small Metropolitan Area Highlights

Of nan mini metropolitan areas, those pinch organization little than 2 million, Bend-Redmond, OR (8.1 percent) and Lake Charles, LA (8.1 percent) were nan fastest increasing metropolitan areas. Bend-Redmond, OR was led by maturation successful finance, insurance, existent estate, rental, and leasing, while Lake Charles, LA was led by maturation successful nondurable-goods manufacturing.
The largest declines successful existent GDP for mini metropolitan areas were successful Odessa, TX (-13.3 percent) and Casper, WY (-11.6 percent). Natural resources and mining subtracted from maturation successful each of these metropolitan areas.

Updates to Gross Domestic Product by Metropolitan Area

In summation to nan statistic presented successful this news release, BEA besides revised GDP by metropolitan area statistic for 2001–2015. Updates incorporated revised net information from BEA's Local Area Personal Income merchandise published successful November 2016.

More metropolitan area highlights tin beryllium recovered connected nan location highlights pages that travel this release.

Next merchandise – September 2018 for: Gross Domestic Product by Metropolitan Area, 2017

Additional Information

Resources

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Historical clip bid for these estimates tin beryllium accessed successful BEA's Interactive Data Application.
Access BEA information by registering for BEA's Data Application Programming Interface (API).
For much connected BEA's statistics, spot our monthly online journal, nan Survey of Current Business.
BEA's news merchandise schedule.

Definitions

Gross home product (GDP) by metropolitan area is nan sub-state counterpart of nan Nation's gross home merchandise (GDP), nan Bureau's featured and astir broad measurement of U.S. economical activity. GDP by metropolitan area is derived arsenic nan sum of nan GDP originating successful each nan industries successful nan metropolitan area.

Current-dollar statistics are weighted successful nan prices of nan play erstwhile nan transactions occurred–that is, astatine "market value." Also referred to arsenic "nominal GDP" aliases "current-price GDP."

Real values are inflation-adjusted statistics–that is, these exclude nan effects of value changes.

Contributions to growth are an industry's publication to nan state's wide percent alteration successful existent GDP. The contributions are additive and tin beryllium summed to nan state's wide percent change.

Industry definition

Natural resources and mining. This manufacture is comprised of agriculture, forestry, fishing, and hunting and mining.

Statistical conventions

Quantities and prices. Quantities, aliases "real" measures, are expressed arsenic scale numbers pinch a specified reference twelvemonth adjacent to 100 (currently 2009). Quantity indexes are calculated utilizing a Fisher-chained weighted look that incorporates weights from 2 adjacent periods (quarters for quarterly information and annuals for yearly data). "Real" dollar bid are calculated by multiplying nan published amount scale by nan existent dollar worth successful nan reference twelvemonth (2009) and past dividing by 100. Percent changes calculated from chained-dollar levels and amount indexes are conceptually nan same; immoderate differences are owed to rounding.

Chained-dollar values are not additive because nan comparative weights for a fixed play disagree from those of nan reference year.

Chained-dollar values of GDP by metropolitan area are derived by applying nationalist chain-type value indexes to nan existent dollar values of GDP by metropolitan area for nan 61 elaborate NAICS-based industries. The chain-type scale look that is utilized successful nan nationalist accounts is past utilized to cipher nan values of full existent GDP by metropolitan area and existent GDP by metropolitan area astatine much aggregated manufacture levels. Real GDP by metropolitan area whitethorn bespeak a important measurement of output that is sold to different areas and countries. To nan grade that a metropolitan area's output is produced and sold successful nationalist markets astatine comparatively azygous prices (or sold locally astatine nationalist prices), existent GDP by metropolitan area captures nan differences crossed metropolitan areas that bespeak nan comparative differences successful nan operation of equipment and services that nan areas produce. However, existent GDP by metropolitan area does not seizure geographic differences successful nan prices of equipment and services that are produced and sold locally.

Relation of GDP by metropolitan area existent maturation rates to nationalist GDP. The statistic of GDP by metropolitan area released coming are accordant pinch statistic of GDP by authorities released May 11, 2017, which were based connected nan July 2016 yearly update of nan nationalist income and merchandise accounts and nan November 2016 yearly update of nan yearly manufacture economical accounts. The maturation complaint of existent GDP successful nan nation's metropolitan areas differs from nan nation's existent GDP maturation rates released successful July 2016. In part, nan quality is caused by nan inclusion of nonmetropolitan areas successful nan nationalist statistics. In addition, maturation rates disagree because of differences successful nan timing of accumulation cycles and readiness of information successful preparing nationalist and location statistics, which presently preclude BEA from incorporating nan instantly preceding July yearly revisions of nan NIPAs into nan beforehand statistic of GDP by metropolitan area.

Metropolitan (statistical) areas. The metropolitan (statistical) areas utilized by BEA for its full bid of GDP statistic are nan July 2015 county-based definitions developed by nan Office of Management and Budget (OMB) for national statistical purposes. Future releases will bespeak nan August 2017 definition. OMB's wide conception of a metropolitan area is that of a geographic area consisting of a ample organization nucleus together pinch adjacent communities having a precocious grade of economical and societal integration pinch nan nucleus.