The fastest growing economies in the past year have been calculated by 24/7 Wall St. and reported upon by Yahoo! News on Thursday. In spite of a very slow economic recovery over the past several years, experts expect the nation’s economy to improve in future years in the United States.
If projections are correct, the nation’s economy should grow by 2.7 percent this year, and it should grow by yet another 3.2 percent next year. Reportedly, in the past year – throughout 2013 – the economy has grown by some 1.9 percent.
The energy boom in the United States is given credit for improving the economies that did improve in the past year. Trade is a bonus to a metro area’s growth as well. The trade can be with other countries or simply other locations in the United States. Most often, metros that grow economically are also areas that have job growth in the United States', otherwise, down job market.
While the data from 24/7 Wall St. lists the metro areas in the United States that grew economically, their data also revealed the metro areas that failed in the past year as well.
America’s Fastest Growing Economies
- Midland, Texas
- Odessa, Texas
- Pascagoula, Mississippi
- Sioux Falls, South Dakota
- Fargo, North Dakota
- Bismarck, North Dakota
- St. Joseph, Missouri
- Cheyenne, Wyoming
- Columbus, Indiana
- Trenton-Ewing, New Jersey
Leading the pack, Midland, Texas’ 2013 GMP change was 7.5 percent. The metro’s change in employment was 6.3 percent, and it’s unemployment for the past year was 3.1 percent.