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NM experiences GDP growth


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New Mexico ranked seventh in the nation for gross domestic product growth for the second quarter of 2017, according to a report from the Bureau of Economic Analysis, a division of the U.S. Department of Commerce.

New Mexico was among the 48 states and the District of Columbia that recorded GDP growth for April through June 2017. The state’s growth rate was 4.5 percent.

South Dakota and Iowa saw a decrease in GDP of 0.3 and 0.7. North Dakota had the highest growth rate, 8.3 percent.

“By streamlining regulations and cutting taxes, we’re making New Mexico more competitive for jobs and investment than ever before,” said Gov. Susana Martinez. “I’m committed to keeping up the fight for the tools and reforms that help businesses grow and hire more New Mexicans.”

The U.S. Department of Commerce report is available online at bea.gov. This is the second consecutive quarter New Mexico has ranked in the top ten nationally for GDP growth. At 4.5 percent, New Mexico’s second quarter GDP growth was even higher than its first quarter rate of 1.2 percent.

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