Growth slow for Erie economy
By Jim Martin, Erie Times-News, Pa. | |
McClatchy-Tribune Information Services |
The county's gross domestic product -- the value of all finished goods and services produced -- edged up 0.2 percent to
Those and other numbers in the bureau's report are expressed in so-called real dollars, which are based on 2009 values.
That means that
The figure also means that the amount of goods and services produced in
Less encouraging, however, is the rate at which the local economy is growing.
Of the 292 metropolitan areas that saw their economies grow in 2013,
"The good news is that the economy expanded," said
But that growth -- about 2 percent in unadjusted dollars, "was pretty lackluster," he said. "That barely beat inflation."
The news could be worse. Of the nation's 381 metro areas, the economy shrank in 89 during 2013.
The fastest growing economy in the nation belonged to
In
That gain was offset in large part by a 3.5 percent decline in durable goods manufacturing and an 8.8 percent decline in education, Kurre said.
With the exception of sectors that include agriculture and mining and a second sector that includes finance and insurance, most sectors remain below their pre-recession levels.
"We have been treading water," Kurre said, despite establishing a record for GDP.
He's hopeful, however, that
"There's no reason we can't turn this around," he said.
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