In the first quarter of 2018, Minnesota’s economic growth lagged that of the nation
Data released today by the Bureau of Economic Analysis shows that Minnesota’s economic growth lagged that of the United States as a whole in the first three months of the year. While the United States grew at a rate of 1.8%, Minnesota’s GDP grew at 1.6%. This marked the third straight quarter, and the fourth out of the last five, in which our state’s economy has grown at a slower rate than that of the United States. Minnesota’s growth rate ranked it 26th among the states and the District of Columbia.
Figure 1: GDP growth, Q4-2017 to Q1-2018, %
Source: Bureau of Economic Analysis
This is a point we have long made here at the Center. Minnesota is a great place to live that offers a high standard of living. We want to see that continue.
John Phelan is an economist at the Center of the American Experiment.