ECONOMIC INDICATORS

Real GDP in Providence metro rises 0.9% in 2011

COURTESY U.S. BUREAU OF ECONOMIC ANALYSIS
THE PROVIDENCE-NEW BEDFORD-FALL RIVER metropolitan area was one of 242 U.S. metro areas to see its real gross domestic product improve in 2011.
Posted 2/22/13

WASHINGTON – Real gross domestic product increased in 242 of the nation’s 366 metropolitan areas in 2011, including the Providence-New Bedford-Fall River area, according to new statistics released Friday by the U.S. Bureau of Economic Analysis.

The real GDP in the metro area in 2011 was $59.3 million in chained 2005 dollars, the 169th highest in the U.S. and a 0.9 percent increase from the $58.8 million reported in 2010.

Industries that contributed positively to the 0.9 percent real GDP change in the Providence metro area included: information (0.27 percent), professional and business services (0.39 percent), education and health services (0.06 percent), leisure and hospitality (0.08 percent), and government (0.25 percent).

Industries that decreased year over year and contributed negatively to the 2011 real GDP included: natural resources and mining (0.04 percent), transportation and utilities (0.08 percent), financial activities (0.22 percent) and “other services” (0.01 percent).

The BEA analysis did not include the year-over-year changes in the Providence metro area’s construction, durable-goods manufacturing, nondurable-goods manufacturing or trade industries.

The U.S. as a whole saw its real GDP increase 1.5 percent from 2010. Improvement was led by growth in professional and business services, durable-goods manufacturing and trade.

The report also listed the Providence metro area’s GDP in current U.S. dollars. The 2011 GDP in current dollars is $68.1 billion, the 43rd highest in the United States and a 2.9 percent increase from the $66.2 billion reported in 2010.

To view the full BEA report, visit: www.bea.gov.

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement