Statistics released by the U.S. Dept. of Commerce’s Bureau of Economic Analysis show Connecticut’s gross domestic product grew 4.8 percent in the second quarter of 2015, putting the state ahead of the national average.
The statistics cover the second quarter of 2015 across 21 business segments. This was the first time since at least 2013 that Connecticut’s GDP growth has exceeded the national average of 3.8 percent. The bulk of Connecticut’s growth came from the insurance and finance sector, which was responsible for over one-third of the 4.8 percent growth. Educational services dropped .12 percent.
Real GDP increased in 46 states and the District of Columbia in the second quarter of 2015. Overall, U.S. real GDP by state grew at an annual rate of 3.8 percent in the second quarter of 2015 after increasing 0.7 percent in the first quarter of 2015. Finance and insurance; professional, scientific, and technical services; and wholesale trade were the leading contributors to real U.S. economic growth in the second quarter.
