Washington, the fastest-growing state in the nation, was the only state to move up the rankings this year, Commerce Department data show.
A construction worker is seen inside a new Amazon building in Seattle, Washington on March 13, 2019. By Andrew Van Dam Andrew Van Dam Reporter focusing on economic data Email Bio Follow May 2 at 1:06 PM Washington state was the fastest growing economy in the nation in 2018, expanding output by 5.7 percent a year earlier adjusted for inflation, almost double the national rate, Commerce Department data show.
Unsurprisingly, the biggest boost to Washington’s economy came from the information services and retail sectors, industries which include fast-growing, globe-spanning behemoths Microsoft and Amazon.The figures aren’t quite comparable, but with annual economic output of more than a half of a trillion dollars, Washington would fit right around Poland, Sweden and Belgium on the World Bank’s global list.
[The government shutdown is hitting Alaska hard, and it already had the worst economy in the country] The state’s economy is bigger than the 25 smallest states combined . It produces about 88 times the goods and services of Vermont, the state with the smallest economy.Adjusting for population, D.C. has the highest per-person economic output in the country at about $200,000 in 2018 dollars. The district is a hyper-urbanized anomaly, of course.
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