Mass. GDP Growth Outpaces Region, Nation In 2010
Real gross domestic product in Massachusetts increased 4.2 percent in 2010 over the previous year, according to the latest statistics from the U.S. Bureau of Economic Analysis.
The Bay State's growth outpaced the average for New England - which was 3.4 percent - as well as the average for the nation - 2.6 percent. In fact, Massachusetts' growth placed it in the top quartile in the United States.
Forty-eight states and the District of Columbia saw an increase in real GDP. The growth was driven in part by increases in durable-goods manufacturing, retail trade and finance and insurance.
Construction continued to hold the economy back. Nationally, that sector declined for the sixth consecutive year and deterred growth in most states.
North Dakota was the fastest growing state in the nation in 2010, with a real GDP bump of 7.1 percent. Nearly two points of the increase in GDP in that state came from the mining sector.
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