Connecticut’s gross domestic product grew by 0.9 percent in the first quarter of 2016, according to the Bureau of Economic Analysis.
That lags behind both national GDP of 1.2 percent and New England’s 1.5 percent for the quarter.
Connecticut was last in New England for GDP growth for the three months. BEA said Connecticut’s overall GDP for the first quarter was $262.2 billion, second only in New England to Massachusetts, which has a GDP of $485.4 billion.
Information technology, healthcare and social assistance, real estate and rental and leasing, as well as finance and insurance, were the three largest growth segments for the quarter. The construction, utilities, and government sectors saw the biggest declines.
Real GDP by state growth, at an annual rate, ranged from 3.9 percent in Arkansas to –11.4 percent in North Dakota.
Construction; health care and social assistance; and retail trade were the leading contributors to U.S. economic growth in the first quarter
According to the BEA, GDP by state is the market value of goods and services produced by the labor and property located in a state. GDP by state is the state counterpart of the nation’s GDP, the BEA’s most comprehensive measure of U.S. economic activity.
