Follow us:

Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

August 20, 2014 at 10:11 AM

State’s GDP growth slowed in late ’13

Washington ended 2013 with state gross domestic product valued at nearly $386 billion. However, inflation-adjusted GDP growth slowed in the fourth quarter to 1.8 percent, the national average. That put us at 38th in the nation for growth in the generally weak last quarter of the year.

For the year, Washington’s output increased 2.7 percent compared with a national 1.8 percent. It was a strong showing for a state outside the old and new Oil Patch and some small resource states. Even so, this has to be set against the slow growth lesser depression, where the economy in most places isn’t expanding enough to make up for the damage of the 2008-2009 meltdown. The data come from a new report by the federal Bureau of Economic Analysis.

Elsewhere in the Northwest, Alaska GDP fell 2.5 percent for the year, while Idaho increased 4.1 percent and Oregon 2.7 percent. To be sure, the fourth quarter data contain some statistical flukes. For example, Nevada output appears to be a world-beater while in reality the state economy is still a basket case from the housing collapse.

qgsp0814


 

Wednesday Reading: The small-minded anti-streetcar conspiracy | The American Conservative


 

Today’s Econ Haiku:

The ALEC racket

Microsoft shuts that window

What took it so long?


 

Comments | More in

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►