PROVIDENCE – The real gross domestic product of the Providence metropolitan area in 2016 increased 1.2 percent year over year according to a report from the Bureau of Economic Analysis released Wednesday.
Based on real GDP in 2016 of $70.5 billion (in 2009 dollars), BEA calculated the metro area grew 1.2 percent from 2015 to 2016, the 196th-fastest growth among the nation’s 382 metro regions. That growth follows increases of 1.6 percent, -0.1 percent, 1.1 percent and 1.7 percent from 2012 through 2015. The BEA report said that real GDP increased in 267 of 382 metropolitan areas in 2016.
Lake Charles, La.’s, real GDP rose at a faster rate than any other metro area in the country in 2016, climbing 8.1 percent, while Odessa, Texas, experienced the largest real GDP downswing, with a decline of 13.3 percent year over year.
At a current-dollar value of $80.2 billion, the Providence metro ranked as the 43rd-largest metro in the nation last year.
The Boston metro ranked No. 9 for current-dollar GDP in 2016 with a value of $422.7 billion and ranked No. 149 for year-over-year percent growth of real GDP with a increase of 2 percent on the year.
Chris Bergenheim is the PBN web editor.
