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June 25, 2021

CT 1Q GDP rises 6%

HBJ File Photo

A key measure of Connecticut’s economy grew during the first three months of 2021, but lagged behind most of the Northeast, according to newly released federal data.

According to the U.S. Bureau of Economic Analysis, Connecticut’s gross domestic product (GDP) -- defined as the market value of all goods and services produced within the state’s borders -- grew 6% from the fourth quarter of 2020.

The national average for the quarter was 6.4%.

In New England, only Maine (5.2%) performed worse than Connecticut, and in the 11 Northeast states, Connecticut was ahead of only New Jersey (5.6%) and Delaware (5.6%), and tied for seventh with Pennsylvania.

Connecticut’s GDP growth ranked 34th nationally.

Durable goods manufacturing saw the single highest increase in the quarter in Connecticut. That sector also led increases in 23 other states.

While COVID-19 stimulus funds played a role in the GDP numbers, BEA said their precise impact could not be measured from its data.

“The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP by state estimates for the first quarter of 2021, because the impacts are generally embedded in source data and cannot be separately identified,” the agency said.

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