The value of all goods and products produced in Louisiana increased by 0.3% in 2008, less than half the national rate of growth. According to figures from the U.S. Bureau of Economic Analysis, that still puts Louisiana ahead of the Southeastern average, which showed no growth from 2007 to 2008. The national GDP was up 0.7% in 2008, compared with a 2% jump from 2006 to 2007. The BEA blamed the declining growth on downturns in several major industries, such as construction, manufacturing, finance and insurance. Louisiana’s per capita GDP was $32,842. Alaska posted a 2% decline in GDP because of a dip in the oil industry last year. North Dakota was the biggest gainer; the state GDP was up 7.3% because of improvements in the agriculture, forestry, fishing and hunting industries. See the full report here.
Louisiana GDP growing less than national average
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