May 7, 2018
Under fiscally responsible Republican leadership, Idaho’s economy continues to soar: Idaho ranked second highest in the nation for its Gross Domestic Product (GDP) growth in the 4th Quarter of 2017, according to new numbers released Friday by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA).
Idaho’s 2017 4th Quarter GDP growth was 4.8 percent, second only to Texas’ 5.2 percent.
For year-to-year GDP growth from 2016 to 2017, Idaho ranked seventh highest in the nation with an annual 2.7 percent growth rate.
Gross Domestic Product, according to the BEA, “is the market value of goods and services produced by the labor and property located in a state…GDP is calculated as the sum of what consumers, businesses, and government spend on final goods and services, plus investment and net foreign trade.”
Durable goods manufacturing contributed the most to Idaho’s GDP growth.