Nevada’s economy shrunk 6.4 percent in 2009
Nevada produced about $112 billion in goods and services in 2009, marking a 6.4 percent decline in its overall economic output – the steepest decline in the nation.
That’s according to a report released Thursday by the U.S. Bureau of Economic Analysis, which tallied every state’s real GDP adjusted for inflation in 2009.
All but eight states experienced a decline last year, led by drops in the manufacturing and construction sectors.
“The decline in construction subtracted more than one percentage point from growth in Nevada, Arizona and Idaho,” according to the report. “In addition to the decline in construction, declines in accommodation and food services, and real estate, rental and leasing, caused Nevada to have the largest downturn in 2009.”
Nevada’s per capita real GDP was $42,564 in 2009, down from $45,942 in 2008, ranking at No. 20. Nevada ranked No. 9 in 2006 when it posted $47,931 in per capita real GDP.
Delaware had the highest per capita GDP of $62,080 and Mississippi had the lowest at $29,634.
The states that posted the largest gains were in the Great Plains. Oklahoma grew the fastest last year at 6.6 percent thanks to its mining industry. States like North Dakota, South Dakota and Nebraska all grew because of agriculture, forestry, fishing and hunting.