Minnesota shows marginal economic growth

Minnesota shows marginal economic growth Click to Enlarge Photo:

Jun 6, 2012 at 10:21 am

MINNEAPOLIS, Minn. (KNSI) The U.S. Commerce Department says Minnesota's economy grew at a rate of 1.2 percent last year.

The state's gross domestic product--the sum of all goods and services produced--was $244.9 billion.

The inflation-adjusted growth rate put Minnesota number 23 among all states in economic growth.

Minnesota state economist Tom Stinson says last summer's state government shutdown likely factored into Minnesota's overall GDP.

North Dakota--in the midst of an oil boom--ranked number one. Its gross domestic product grew by 7.6 percent.

Six states saw their economies contract. They were Maine, New Jersey, Alabama, Mississippi, Wyoming and Hawaii.

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