South Dakota agriculture played a key role in the state’s economic slowdown, dropping by 2.2 percent while mining fell by 0.4 percent.
South Dakota agriculture played a key role in the state’s economic slowdown, dropping by 2.2 percent while mining fell by 0.4 percent.
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Dec 7, 2016

South Dakota’s Economic Growth Continued to Decline in Second Quarter 2016

While 41 states experienced an increase in gross domestic product (GDP) in the second quarter of 2016, South Dakota’s economy lagged, according to a recent release from the U.S. Bureau of Economic Analysis. South Dakota’s GDP declined by 1.0 percent in the second quarter, placing the state at No. 46 in the nation for economic growth.

Regionally, South Dakota outperformed North Dakota and Wyoming, which experienced declines of 5.6 and 5.3 percent, respectively. Nebraska led the region in growth at 4.3 percent, while Minnesota experienced no growth and Iowa increased modestly at 1.3 percent.

South Dakota agriculture played a key role in the state’s economic slowdown, dropping by 2.2 percent while mining fell by 0.4 percent. Real estate, durable goods and health care industries each edged up by 0.4 percent. South Dakota’s transportation industry increased marginally at 0.1 percent in the second quarter, but it was well below the national growth rate of 14.0 percent for this sector. 

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