Mary: This is Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at North Carolina’s GDP. Mike, GDP stands for gross domestic product, and it measures the aggregate production of a region, like as state. During the pandemic recession in the spring, GDP in the nation and in North Carolina plunged by one-third, at an annual rate. Has GDP made a recovery in North Carolina?
Mike: Summary Answer
- Yes, numbers were just released
- In 3rd quarter, NC’s GDP rose at an annual rate of 36%
- More than the nation
- And among the states, was in the second highest group
- Also higher than GA, VA, and FL; about same as SC, but lower than TN
- So, NC economy is coming back
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.