Local Community Development Corporations

Thursday, February 24, 2011

Triad production trails RTP, Charlotte

Date: Thursday, February 24, 2011, 3:23pm EST

GMP is the total output of goods and services within a given metropolitan area for the year. The latest statistics are from 2009 but are expressed in 2005 dollars to control for inflation.

According to the data, the GMP of Greensboro/High Point fell by 6.07 percent from 2008 to 2009, to $28.65 billion. The GMP of Winston-Salem fell by 5.7 percent, to $18.65 billion.

Charlotte, which has the largest GMP in the state, saw its output fall by 4.42 percent to $101.29 billion. Raleigh/Cary's GMP fell by 3.23 percent to $47.63 billion, and Durham/Chapel Hill saw a fall of 1.48 percent to $32.33 billion.

Nationally, four-fifths of the nation's 100 largest markets saw their economies contract in 2009. Detroit saw the most dramatic decline, losing 9 percent of its GMP in 2009.

Oklahoma was the biggest gainer, expanding its GMP by 14.5 percent in that year.

Read more: Triad production trails RTP, Charlotte | The Business Journal

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