Des Moines GDP growth outpaces larger neighbors
BUSINESS RECORD STAFF Sep 25, 2015 | 7:47 pm
1 min read time
139 wordsAll Latest News, Economic DevelopmentA new federal report this week showed Iowa’s statewide gross domestic product growth lagging neighboring states, but Des Moines’ GDP grew more than its much-larger neighbors last year.
The new data released by the Bureau of Economic Analysis shows that the Des Moines-West Des Moines metropolitan statistical area added 2.6 percent in 2014. Omaha-Council Bluffs gained 2.4 percent, Minneapolis and Kansas City 2 percent, Chicago 1.8 percent, St. Louis 1.7 percent and Milwaukee 0.8 percent. The average gain for U.S. metropolitan areas was 2.3 percent.
Des Moines ranked 95th based in percentage growth, based on 2009 dollars adjusted for inflation. Omaha-Council Bluffs was 107th, Minneapolis-St. Paul-Bloomington was 137th, Kansas City 141st, Chicago-Naperville-Elgin 147th, St. Louis 151st, and Milwaukee-Waukesha-West Allis, 218th.
Midland, Texas, ranked first with 24.1 percent growth.
Real GDP increased in 282 of the nation’s 381 metropolitan areas in 2014.
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