Thursday, June 9, 2011

North Dakota Leads States in Growth

Economix features an interactive graphic showing changes in states' GDP.  North Dakota grew the most, while Wyoming shrank the most:
As for North Dakota and Wyoming, how can two states so similar in shape and population density have such different fates?
The key seems to be mining.
In North Dakota, almost every sector grew at least a little. The biggest contribution to growth, though, was in mining.
In Wyoming, about equal numbers of sectors grew as shrank, but the biggest drag on the state economy was mining.
I would anticipate that North Dakota's increasing shale oil production also contributed significantly versus Wyoming's reliance on natural gas drilling.

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