Springs not on economic ‘hardest hit’ list

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The Bureau of Economic Analysis has ranked the “hardest hit” metropolitan areas in the nation during 2008.

Colorado Springs is not on the list, but Grand Junction, with a gross domestic product growth rate of 12.3 percent, claimed the top spot on the list of metropolitan areas with the highest GDP growth in the nation.

In all eight BEA regions, real economic growth slowed-but the three hit hardest were the Great Lakes, the Southeast and the Southwest.

Sixty percent of metropolitan areas experienced slowing or reverse growth.

Much of the real gross domestic product decline was due to housing-related industries, and metropolitan areas in California, Arizona, Florida and Nevada had the greatest declines.

However, growth accelerated in 146 metropolitan areas-especially in areas with concentrations of mining industries and natural resources.

And the business and professional services industry contributed the most to GDP growth in 112 metropolitan areas.

For the full report, visit the Bureau of Economic Analysis Web site.