West Virginia has Nation’s 2nd Highest GDP Growth in 1st Quarter of 2017
July 31, 2017
Charleston, W.Va. – Information released last week by the U.S. Department of Commerce’s Bureau of Economic Analysis shows that West Virginia had the 2nd highest GDP growth in the nation for the first quarter of 2017.
West Virginia saw 3% GDP growth during the first quarter of the year, following only Texas, which saw 3.9% growth. West Virginia Chamber President Steve Roberts stated, “The information released from the Bureau of Economic Analysis helps confirm the economic trends we have been seeing since the beginning of the year.”
Of West Virginia’s neighboring states, Maryland saw the next highest GDP growth with 2.1%. Virginia, Kentucky, Ohio and Pennsylvania saw 2.0%, 1.8%, 1.4% and 1.2% respectively.
Roberts continued, “According to the U.S. Energy Information Administration, West Virginia coal production has increased 31% from June 2016 – June 2017, and natural gas production is at a five-year high. Additionally, recent reports from the U.S. Department of Labor’s Bureau of Labor Statistics show that in June, total employment in West Virginia climbed to over 747,100 for the first time in nearly a year. All of these numbers indicate that West Virginia’s jobs recovery is real.”
The improvement in West Virginia’s economic picture comes on the heels of crucial reforms enacted by the West Virginia Legislature, as well as those currently being undertaken in our nation’s capital.
The West Virginia Chamber is the voice of business in West Virginia. Chamber members are found in every county and employ over half of our state’s workers.