North Dakota Tops List of Fastest Growing State Economies

Eleven states grew their GDP by over two percent this past fiscal year. North Dakota ranked first, with a GDP growth of 7.6 percent from fiscal year 2010 to 2011, 24/7 Wall Street reported. Most of the improvements across the 11 states that led the nation in GDP growth were driven by growth in professional, scientific and technical services, the information sector — and especially manufacturing. Michigan, one of the states worst hit in the recession, had over 58 percent of its economic expansion come from durable goods manufacturing. Other states, such as North Dakota used the increased sale of natural resources to boost their GDP. The United States as a whole experienced its second year of growth, although this year grew at less than half the rate it grew two years ago.

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