Real Gross Domestic Product figures released today show two out of three metropolitan areas in the United States saw economic growth in 2011 — led by gains in professional and business services, durable-goods manufacturing, and trade.
The Bureau of Economic Analysis reported real GDP in metropolitan areas slow substantially, increasing 1.6 percent in 2011 after increasing 3.1 percent in 2010.
Medford, which includes all of Jackson County, represents the 242nd-largest GDP area in the country at $6.173 billion. Our 0.4 percent growth, ranked No. 213 out 366 MSAs.
While its the highest dollar figure since a revised $6.2 billion in 2008, compared to other MSAs, Medford has yet to shake entirely free of the Great Recession’s clutches. In 2007, Medford was No. 219 among the nation’s local economies. It has slipped every year — using revised figures — coming in at No. 238 in 2010.
Going into the recession, construction was hit hardest — again no surprise to anyone.
During 2011, Medford’s real GDP rose 0.4 percent, an anemic by any standard. Construction, durable- goods manufacturing, nondurable-goods manufacturing, information, education and health services, and leisure and hospitality — saw marginal gains. Durable-goods manufacturing was the strongest with an 0.67 percent advance.
Natural resources, financial activities, professional and business services, other services, and government faltered, led by an 0.42 percent decline in professional and business services.
Trade, as well as transportation and utilities figures were not reported for fear confidential information might be revealed.
In the Far West region (California, Oregon and Washington), which accounts for 22.3 percent of the nation’s current-dollar GDP, there was a decline in 25 of the 48 MSAs. The BEA reported real estate, rental, and leasing contributed the most to the decline.
During 2011, Mount Vernon-Anacortes, Wash., and Bellingham, Wash., experienced large downturns in real GDP growth due to declines in agriculture, forestry, fishing, and hunting; and information. Tech-rich San Jose-Sunnyvale-Santa Clara, Calif., was No. 6 in growth nationally, while Portland-Vancouver-Hillsboro was No. 10 . The BEA attributed growth in each of the areas to durable-goods manufacturing.
StationIntel data shows the number of sports stations has increased 4 percent during the past year, with 711 stations — including KTMT-AM (580) and KLVB-AM (730) — now programming the format. The list has just grown longer with more stations jumping onto the field, including KXTG-AM (750) in Portland. Unfortunately, most of it is wasted on rabble babble instead of sports events.
A quick hit on the relationship between China and U.S. debt.