Triad production trails RTP, Charlotte

The Business Journal

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

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Manufacturing, Economic Snapshot

The Gross Metropolitan Product" of the Winston-Salem and Greensboro/High Point metro areas fell further in 2009 than did those of the Triangle or Charlotte, according to new numbers from the U.S. Bureau of Economic Analysis.

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