Washington state had the nation's third-fastest growth rate last year, according to gross domestic product data from the Bureau of Economic Analysis.
Washington state posted the nation’s third-fastest growth rate last year, and was one of only 13 states where economic activity expanded, according to federal data released Thursday.
State gross domestic product — the sum of all goods and services produced within a state’s borders — rose 4.3 percent in Washington after adjustment for inflation, according to the Bureau of Economic Analysis. That put the state’s 2007 growth rate behind just Utah (5.3 percent) and New York (4.4 percent).
Growth in Washington accelerated from 3.5 percent in 2006. Nationally, GDP growth slowed to 2 percent last year from 3.1 percent in 2006.
Information industries, retail and durable-goods manufacturing were the largest contributors to Washington’s GDP growth last year; construction and finance were the biggest drags on growth.
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