Advance 2014, and Revised 2001–2013 GDP-by-Metropolitan-Area Statistics
Real GDP increased in 282 of the nation’s 381 metropolitan areas in 2014, led by growth in several industry groups: professional and business services, wholesale and retail trade, and the group of finance, insurance, real estate, rental, and leasing. Natural resources and mining remained a strong contributor to growth in several metropolitan areas. Collectively, real GDP for U. S. metropolitan areas increased 2.3 percent in 2014 after increasing 1.9 percent in 2013.
Professional and business services contributed 0.61 percentage point to U.S. metropolitan area real GDP growth in 2014. This industry contributed to growth in 314 of the nation’s 381 metropolitan areas. Growth in this industry accounted for more than half of real GDP growth in 49 metropolitan areas, and contributed more than one percentage point to growth in 28 metropolitan areas, most notably in Midland, MI (4.56 percentage points) and San Francisco-Oakland-Hayward, CA (2.05 percentage points).
Wholesale and retail trade contributed 0.34 percentage point to U.S. metropolitan area real GDP growth in 2014. This industry contributed to growth in 323 metropolitan areas and contributed more than one percentage point to growth in 16 metropolitan areas. The largest contributions from this industry occurred in Battle Creek, MI (2.85 percentage points) and Mobile, AL (1.96 percentage point).
Finance, insurance, real estate, rental, and leasing contributed 0.34 percentage point to U.S. metropolitan area real GDP growth in 2014. This industry contributed to growth in 188 metropolitan areas and contributed more than one percentage point to growth in 41 metropolitan areas, most notably in Naples-Immokalee-Marco Island, FL (3.84 percentage points) and Panama City, FL (3.46 percentage points).
Although natural resources and mining was not a major contributor to growth for the nation, this industry contributed to strong growth in several of the fastest growing metropolitan areas. Mining in the Permian Basin and Cline formation led to notable growth in total real GDP for Midland, TX (24.1 percent) and San Angelo, TX (11.4 percent). Mining in the Marcellus shale formation contributed significantly to the 9.5 percent increase in total real GDP for Wheeling, WV.1
The government sector subtracted 0.01 percentage point from U.S. metropolitan area real GDP growth in 2014. This sector subtracted from growth in 236 metropolitan areas. The largest subtractions occurred in Jacksonville, NC (1.64 percentage point), Hinesville, GA (1.40 percentage point), and Clarksville, TN-KY (1.09 percentage point).
Tables 1–3 show these results in more detail; complete detail is available on the BEA Web site at www.bea.gov.
1The location of these formations can be found on the following map released by the EIA: http://www.eia.gov/oil_gas/rpd/shale_gas.jpg.
Advance Statistics of GDP by Metropolitan Area for 2014 by NAICS Sector
The advance statistics of GDP by metropolitan area for 2014 are based on source data that are incomplete or subject to further revision by the source agency. Revised statistics, based on more complete data, will be released in 2016.
More information on the methodology used to produce these advance 2014 statistics, on the revised statistics of GDP by metropolitan area for 2001–2013, and on revisions to these statistics will appear in an article in the October 2015 issue of the Survey of Current Business, BEA’s monthly journal.