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How Is Connecticut’s Economy Doing? Kinda Well

Cautious good news from the latest federal figures.

CT's GDP, courtesy of U.S. Bureau of Economic Analysis
CT's GDP, courtesy of U.S. Bureau of Economic Analysis

Connecticut’s economy is growing - but at half the pace of the rest of the country, according to figures released Wednesday by the Bureau of Economic Analysis.

Last year, The Hartford Courant used Bureau of Economic Analysis figures to report that Connecticut was the only state in which the economy shrunk in 2012. The newest figures show that the state’s economy did grow last year - 0.9 percent. This was thanks to revenue from real estate rental and leasing and information, according to Clifford Woodruff from the Bureau of Economic Analysis.

In 2013 nondurable manufacturing, transportation and warehousing and finance and insurance all shrunk in the state.

But Connecticut didn’t fare so well in comparison with its New England neighbors. Massachusetts, Vermont and Rhode Island all saw more growth in 2013.

The U.S. economy grew 1.8 percent overall last year, with North Dakota experiencing the largest growth of 7.6 percent. Alaska and D.C.’s economies shrunk in comparison with 2012.

The BEA used real gross domestic product to calculate growth.

What do you think about this growth? Do you work in one of the sectors that shrunk or grew in 2013? Let us know in the Comments section.
Paula Antolini June 19, 2014 at 12:03 PM
Rob W ... My "cognent point" as you put it, is referring to your comments and how much of what you say about the economy is incorrect, based on your personal observation of your own business, for starters, and more, check the comment. Also I am not arguing, we are discussing...why do you describe it as such? (Delete must have been a glitch because it did not show and I checked fully.)
Rob W June 19, 2014 at 12:17 PM
OK, so your cogent point is "you're wrong." I get that. Please expand on that thought. Otherwise, we ARE just arguing, and there's no value being added here.
Captain Obvious June 19, 2014 at 01:14 PM
Since Ms. Antolini has taken to the patch to assail our community with her vindictive rhetoric she has negated a once useful source of information. Her abrasive, self-serving approach is not representative of our community. Her irrational rants create unneeded controversy doing nothing but leaving Ms. Antolini feeling fulfilled that she has cast, yet again, a dark cloud over our community. Credible community leaders will not engage with any patch representative because of Ms. Antolini. Her act has grown tiresome and we, as a community we need to send her the resounding message that she is not our voice, advocate or representative in any way and her work is of no value to our town. Obviously, we can't prevent Ms. Antolini from posting, that is her right, what we can do is no longer react to her and allow these incessant rants to die a death through not validating them with a response. A.W.
Paula Antolini June 19, 2014 at 02:23 PM
Nice to see you think of me often "Andrew Wiggins."
Dave Lersch July 10, 2014 at 08:25 AM
No problem here with energy production...fracking/drilling .... If you don't like it stop using products made from, or transported by petroleum or gas. As to schools and quality of life....I've spent 30 years travelling around the country and lived in 10 different areas. All had great schools and a rich/pleasant culture to raise a family. In fact, generally speaking, folks in the midwest and south are overly friendly, courteous, civic minded, etc, and that draws attention. I ended up here when I retired and just can't make up my mind as to where I want to move next. P.s. this state government overreacts and fails to understand longer term implications of their actions.... like last year's firearm legislation may not seem like a big deal to most of CT; however for businesses to see how quickly something significant can change, without the benefit of a healthy two-sided debate, portrays a sense of instability and poor mgt. People from around the US aren't flocking to CT because we're safer or due to other reasons stated above. Anyone who votes to keep an incumbent politician in power is just asking for more of the same stagnancy as we've seen.

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