Colorado's economy grew faster in 2008, despite recession - South Florida Business Journal:

olimstgon.blogspot.com
reported Tuesday, suggesting that the recession's impac hit Colorado later than most othed parts ofthe country. Gross domestic product in Colorad grewby 2.9 percent in 2008, up from 2.0 percentg in 2007 and 2.7 percenf in 2006, the Commerce Department's Bureah of Economic Analysis reported in its annual state-by-statd breakdown of GDP. Colorado's 2.9 percent GDP growtyh rate was fourth-highest among the 50 exceeded only by NorthDakota (7.3 percent Wyoming (4.4 percent) and South Dakota (3.5 percent). The last year Colorado'd economy grew faster than 2008 was in witha 4.3 percent GDP increasr that year, BEA said.
Colorado was one of only 12 statesx in 2008 where the rate of growth of GDP increasedc from theprevious year. In fact, 12 states experiencee GDP declines in led by Alaska witha 2.0 percent Average growth in GDP among the 50 stateds slowed from 2.0 percent in 2007 to 0.7 percentr in 2008. (The GDP-by-state figures differ from nationap GDP becausedifferent state-by-state methodology is The nationwide recession officially begahn at the start of 2008.
The report said the biggestf contributors to the growthof Colorado'z GDP in 2008 were professional and technical services, followefd by mining, information and It said the biggest drags on the state'w economy were construction, followed by transportation and warehousing. .