September 22, 2017

Report: Greater Hartford's GDP flat in 2016

PHOTO | HBJ File
PHOTO | HBJ File
The city of Hartford.

The Hartford area's economic growth rate was flat in 2016, ranking in the bottom half of U.S. metropolitan areas tracked by the U.S. Bureau of Economic Analysis (BEA), the BEA said Thursday.

The federal agency tracks 382 metropolitan statistical areas, ranking the relative size of their economies and gross domestic products, adjusted for inflation.

The Hartford-East Hartford-West Hartford metro area ranked 40th in terms of the size of its economy relative to other metros, but 270th in terms of its growth rate, according to the report.

The metro area's GDP growth rate for 2016 was virtually flat at $79.98 billion compared to $79.98 in 2015.

That growth rate had been negative since 2011, when the GDP was $81 billion, with the exception of 2015, when it shot up 4 percent to $79.98 billion.

The metropolitan area with the fastest-growing economy was Lake Charles, La., which had a growth rate of 8 percent in 2016.

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