Iowa economy grew by 2 percent last year
Iowa’s gross domestic product for 2015 totaled $174 billion, a 2 percent increase from 2014, according to a report from the Legislative Services Agency, an arm of the Iowa Legislature. Farming made up nearly $2.3 billion of the total, an 18 percent decline from 2014. With an exception for mining, all other industrial groups experienced growth in the value of goods and services they produced. The state’s GDP for 2014 has been revised to 4.4 percent from 2.3 percent. The report covers GDP before adjusting for inflation. The national GDP was 3.5 percent. The Iowa economy accounts for slightly less than 1 percent of the U.S. economy.