Idaho’s second quarter 2016 GSP growth third in the nation

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KMVT/KSVT - Idaho's gross state product (GSP) increased by nearly 3 percent (2.8 percent) during the second quarter of the year, which makes the state the third fastest growth rate in the nation.

Nebraska and Utah rounds up the top two.

According to data from the Bureau of Economic Analysis (BEA), the nation's second quarter gross domestic product (GDP) growth was just over 1 percent overall.

So what is it that helped the GSP in the Gem State, you ask? Agriculture, forestry, fishing and hunting industries were the biggest contributors and real estate followed as the second largest contributor.

For majority of the states, transportation and warehousing made the biggest impact on the change.

BEA began producing quarterly GSP forecasts earlier in the year. The latest data series are designed to show how certain industries affect a state's economic growth from quarter to quarter.



 
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