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.
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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.
