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Louisiana economic growth lags nation in second quarter

11 months 3 weeks 6 days ago December 12, 2015 Dec 12, 2015 Saturday, December 12 2015 December 12, 2015 1:39 PM in News
Source: Associated Press
By: APnewsNow

NEW ORLEANS  - New figures show Louisiana's economy grew at a 2.4 percent annual rate from April through June, slower than the nation's economy.

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

Louisiana's performance was an improvement from 2015's first quarter, when the economy shrank 1.5 percent, and from 2014, when economic output grew by 1.5 percent.

The 2014 figures have been lowered, originally showing Louisiana grew 1.9 percent.

A decline in oil and gas mining offset strength in non-durable goods manufacturing, which includes petrochemical refining. Transportation and warehouse and real estate leasing also grew.

Nationwide, economic output rose 3.8 percent during 2015's second quarter. Louisiana, with a $250 billion-plus economy, ranked 42nd for growth among states.

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