Article Body
Office of Gov. Dennis Daugaard
500 E. Capitol Ave.
Pierre,S.D.57501
(605) 773-3212
FOR IMMEDIATE RELEASE: Wednesday, June 6, 2012
CONTACT: Mary Lehecka Nelson, Governor’s Office of Economic Development, 605-773-3301
South Dakota Ranked 9th In Gross Domestic Product Growth
PIERRE, S.D. – South Dakota was ranked the 9th fastest growing economy in Gross Domestic Product (GDP) growth last year, according to a new state-by-state report released by the U.S. Department of Commerce.
South Dakota’s GDP totaled slightly over $40.1 billion in 2011, an increase of nearly 5 percent.
“The growth of South Dakota’s Gross Domestic Product last year was impressive and exceeded the national average of 3.92 percent,” said Gov. Dennis Daugaard.
Especially impressive was the increase in durable manufacturing, the Governor said. Durable goods include manufactured equipment and products with a normal shelf life of three years or longer.
“South Dakota saw a measurable upswing in the durable manufacturing sector,” Gov. Daugaard said. “Companies like Angus Palm, Trail King, Adam’s Thermal Systems and Masaba are all leaders in helping South Dakota achieve this type of growth.”
Gross Domestic Product state statistics are released by the U.S. Department of Commerce’s Bureau of Economic Analysis as a measure of comprehensive economic activity. For more information about national and regional statistics, visit http://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm
South Dakota Gross State Product: (in current $)
•2011: $40.117 billion +4.98 percent
•2010: $38.215 billion +3.22 percent
•2009: $37.022 billion -0.66 percent
•2008: $37.266 billion + 6.83 percent
•2007: $34.885 billion + 7.99 percent
•2006: $32.304 billion + 2.39 percent
•2005: $31.549 billion + 3.21 percent
•2004: $30.569 billion + 5.69 percent
•2003: $28.922 billion + 4.75 percent
•2002: $27.610 billion + 9.51 percent
-30-