Adjusted for inflation, Idaho's gross domestic product (GDP) grew by 2.7 percent between 2013 and 2014, which is the 12th largest increase among states in the country. Altogether the value of the goods and services produced in the state is worth almost $58 billion dollars. Just two years ago, Idaho ranked 45th when it comes to the increase in GDP.
Craig Shaul is an analyst with the Idaho Department of Labor. He says the new numbers reflect a wider positive trend post-recession.
"Seeing this for 2013 and 2014 kind of confirms what we've been seeing in other areas of our labor market and other areas of the economy," says Shaul, "that Idaho's economy is growing."
States like North Dakota and Texas saw bigger jumps of six and five percent, but Shaul says he's happy with Idaho's economic growth. He says the state's growth is sustainable.
Perhaps surprisingly, the new leader among industries is Idaho's financial sector, which grew by 17.8 percent. Shaul says retail and wholesale trade came in second, and manufacturing remains in the top five state industries in terms of growth. Idaho's construction industry, however, declined.
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