Real gross domestic product increased in 41 states and the District of Columbia in the fourth quarter of 2015, according to the Bureau of Economic Analysis. Gross domestic product is the value of goods manufactured and services provided during a specific time frame and geographic area.
In Colorado, real GDP grew 2.8 percent between 2014 and 2015.
Real GDP by state growth, at an annual rate, ranged from 3 percent in Indiana to -3.4 percent in Wyoming. The leading contributors to the figures were information, construction, and professional, scientific and technical services.
In Colorado, the real GDP for all industries, including government, increased from $312 million in the fourth quarter 2014 to $318 million in Q4 in 2015, the Bureau of Economic Analysis reported. That compares with a real GDP of $235 million for Q4 2006.
Colorado’s GDP growth was due in large part to real estate, which contributed .89 percentage point to the real GDP growth in the state.
Nationally, the information industry group grew 10.6 percent in Q4 of last year. Construction grew 7.6 percent and professional, scientific and technical services grew 3.9 percent in Q4 last year.