September 16, 2014
- Real GDP increased in 292 of the nation’s 381 metropolitan areas in 2013, led by widespread growth in finance, insurance, real estate, rental, and leasing; nondurable-goods manufacturing; and professional and business services. Natural resources and mining also spurred strong localized growth in several metropolitan areas.
- Finance, insurance, real estate, rental, and leasing and nondurable-goods manufacturing contributed more than 50 percent to real GDP growth in 61 and 46 metropolitan areas, respectively.
- Professional and business services contributed to growth in 245 of the nation’s 381 metropolitan areas in 2013, most notably in Fayetteville-Springdale-Rogers, AR-MO (3.33 percentage points) and Janesville-Beloit, WI (2.61 percentage points).
- Mining in the Utica and Marcellus shale formations led to notable contributions to growth for natural resources and mining in Beckley, WV (11.49 percentage points); Wheeling, WV-OH (8.50 percentage points); and Charleston, WV (3.63 percentage points). Mining in the Niobrara shale formation contributed significantly to the 10.1 percent increase in total real GDP for Greeley, CO.
- In 2013, Baton Rouge, LA was the fastest growing metropolitan area (6.5 percent) among economies with populations of 500,000 or more. Mount Vernon-Anacortes, WA grew the fastest (10.6 percent) of the metro areas with populations of less than 500,000.