New York had fastest-growing economy in nation last quarter
The BEA says the New York’s GDP grew 4% from the first quarter to the second, which is the highest of any state and nearly double the national growth rate.
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New York had the fastest-growing economy in the nation last quarter, according to new data released by the U.S. Department of Commerce’s Bureau of Economic Analysis.
The BEA says the New York’s GDP grew 4% from the first quarter to the second, which is the highest of any state and nearly double the national growth rate.
Gov. Kathy Hochul’s office attributes the feat to local innovation, jobs and community investments.
Companies like Micron, IBM, Regeneron, Chobani, Fairlife supported the economy by bringing tens of thousands of jobs to the state.
The BEA says finance and insurance were the leading contributors in New York’s GPD growth, followed by information, real estate and rental leasing and professional, scientific and technical services.
Hochul vowed to sustain economic advancement in a recent press release.
“I'll continue building on this progress every day, as my administration moves forward with nation-leading policies and investments to keep sparking even more economic growth and put more money in the pockets of New York families,” she said.
