Worcester GDP Growth Slowed In 2011
After rebounding in 2010 from a down year, the growth of the Worcester metropolitan area's real gross domestic product slowed in 2011, the federal Bureau of Economic Analysis (BEA) said today.
The Worcester area's real GDP, or output of goods and services, grew 1.4 percent in 2011, following growth of 5.9 percent in 2010, which was a rebound year after growth dropped 4 percent in the midst of the recession in 2009. However, the area's growth was below the national average of 1.6 percent for the year.
The BEA's preliminary statistics for 2011 put Worcester squarely in the midst of the pack of the 366 metro areas around the country. The area's growth ranks it at 134th.
Of those 366 areas, 242 experienced growth in real GDP during 2011, the BEA said.
Here in Central Massachusetts, professional services contributed 1.66 percentage points to the growth, while financial activities took away a half point.
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