South Dakota’s Economy Off to a Good Start in 2018
If you want to find the fastest growing economies in the United States you need to heed the old adage - go West.
MarketWatch is reporting on new numbers released by the United States Department of Commerce, nine of the ten biggest jumps in gross domestic product in the country during the first quarter of 2018 came West of the Mississippi.
Including South Dakota's economy.
The Mount Rushmore State has seen a 3.1 percent uptick in GDP since January, one of just four states to experience growth higher three percent or better. The others are Washington (3.6%), Utah (3.2%), and Colorado (3.0%).
The U.S. economy as a whole grew just 2% in the first quarter.
South Dakota's rising GDP was bolstered by two main areas of growth - manufacturing is up 4.8 percent and professional and business services are up 3.3 percent through the first four months of 2018.
At the other end of the spectrum, North Dakota was the only state to experience a decline in GDP, falling 0.6%. Lower oil prices are to blame.