Missouri GDP growth picked up in fourth quarter 2013

Photo illustration by Nicole Lunger/Missouri Business Alert
After lagging national GDP growth for the first three quarters of 2013, Missouri’s GDP showed life in the fourth quarter. | Photo illustration by Nicole Lunger/Missouri Business Alert

Although the Commerce Department previously reported that Missouri badly underperformed the U.S. economy in 2013, a new report shows positive progress for the state over the year’s final quarter.

The department now calculates state gross domestic product on a quarterly basis, and its numbers indicate Missouri performed much better in the last three months of the year than in the first nine. GDP, or the sum of all the goods and services produced in the state, grew at a 3.0 percent annual rate in the fourth quarter after being below 2 percent in the first three quarters.

That made Missouri’s economy the 21st-fastest growing state economy for the fourth quarter. Missouri ranked 45th, with growth of 0.8 percent, for the year.

Read more from the St. Louis Post-Dispatch

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