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Louisiana economic growth lags nation in 2013

1 year ago June 11, 2014 Jun 11, 2014 Wednesday, June 11 2014 Wednesday, June 11, 2014 9:25:19 AM CDT in News
Source: Associated Press
By: Jeff Amy

BATON ROUGE - New figures show Louisiana's economy grew by 1.3 percent in 2013, lagging neighboring states and the nation.

Gross domestic product numbers released Wednesday by the federal Bureau of Economic Analysis try to measure all of the economic output of each state.

Louisiana's 2013 growth rate was below the national average of 1.8 percent, and ranked 34th among the 50 states. The numbers can change later - Louisiana's 2012 growth was revised up to 2.1 percent from an earlier estimate of 1.5 percent.

Federal figures show the biggest contributor to growth in Louisiana last year came from makers of nondurable goods, including oil and chemical refiners. But mining, including oil and gas extraction, was the biggest drag on the state's $254 billion economy.

Louisiana posted per-capita gross domestic product of $47,997.

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