New York State economy grew 0.8 percent in 2016 following growth of 1.2 percent in 2015.
Real gross domestic product (GDP) increased in every state and the District of Columbia in the fourth quarter of 2016, according to statistics on the geographic breakout of GDP on May 12th by the U.S. Bureau of Economic Analysis. Real GDP by state growth ranged from 3.4 percent in Texas to 0.1 percent in Kansas and Mississippi (table 1 and chart 1). Finance and insurance; retail trade; and professional, scientific, and technical services were the leading contributors to U.S. economic growth in the fourth quarter. Continue Reading.