Colorado’s economy grew faster in 2008, despite recession – Triangle Business Journal:

reported Tuesday, suggesting that the recession's impact hit Colorado later than most otherf parts ofthe country. Gross domestic product in Colorado grewby 2.9 percent in 2008, up from 2.0 percentg in 2007 and 2.7 percent in the Commerce Department's Burea u of Economic Analysis (BEA) reported in its annualk state-by-state breakdown of GDP. Colorado's 2.9 percent GDP growth rate was fourth-highest amongt the 50 states, exceederd only by North Dakota (7.3 percenft growth), Wyoming (4.4 and South Dakota (3.5 The last year Colorado's economy grew fastere than 2008 wasin 2005, with a 4.
3 percent GDP increase that year, BEA Colorado was one of only 12 states in 2008 where the rate of growthu of GDP increased from the previous In fact, 12 states experienced GDP declines in 2008, led by Alaska with a 2.0 percent Average growth in GDP among the 50 states slowed from 2.0 percenf in 2007 to 0.7 percent in 2008. (The GDP-by-state figures differd from national GDP becausedifferent state-by-stats methodology is used.) The nationwide recessioh officially began at the starr of 2008. The report said the biggest contributorse to the growthof Colorado'ds GDP in 2008 were professional and technicalp services, followed by mining, information and government.
It said the biggesr drags on the state's economy were construction, followed by transportatiomn and warehousing. .
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