BEA: State’s economy grew by 2.4 percent in 2012

by Associated Press

Published: June 6,2013

Tags: economic, economy, growth, wealth creation

ACROSS MISSISSIPPI — New figures show that Mississippi’s economy grew by 2.4 percent in 2012.

Gross domestic product numbers released Thursday by the federal Bureau of Economic Analysis try to measure all of the economic output of each state.

Mississippi’s 2012 growth rate was close to the national average of 2.5 percent, and ranked 17th among the 50 states. That was a marked improvement from 2011, when Mississippi’s economy shrank by 1.1 percent, one of only five states to contract.

Federal figures show the biggest contributor to growth in Mississippi last year came from makers of durable goods such as cars.

Only three times in the last 15 years has Mississippi’s economy grown faster than the nation.

Mississippi retained the lowest per-capita gross domestic product of any state, at $28,944 per person.

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