Slight decline in Colorado GDP

Colorado’s state GDP fell 0.86 percent to $231.89 billion in 2009 from $233.9 billion the previous year, according to the U.S. Bureau of Economic Analysis.

The report indicated declines in state GDP, also referred to as gross state product,  for 38 states. The average decline by state was 2.1 percent over that period, making Colorado’s slight dip the 17^th strongest performance in the nation.

Aggregate figures showed declines across each of the eight regions surveyed by the Bureau, with the Rocky Mountain region posting the strongest numbers, off just 0.6 percent from the previous year.  The largest decline, 3.4 percent, was reported by the Great Lakes region.

Colorado’s state GDP rose 2.88 percent from 2006 to 2007, and 1.91 percent from 2007 to 2008. It still has the 19^th highest state GDP overall.

The nationwide decline was led by downturns in construction and durable-goods manufacturing.

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