BEA's New Measure for Metropolitan Areas
The U.S. Bureau of Economic Analysis (BEA) recently released experimental measures of economic output produced in the nation’s metropolitan statistical areas (MSA). Gross Domestic Product (GDP) by metropolitan area estimates are being released for evaluation and comment by data users. These prototype statistics are a new tool that can be used to answer a variety of questions for business, such as:
- What is the size of a metropolitan area’s economy?
- Is a metropolitan area’s economy growing or declining?
- What industries are driving a metropolitan area’s economic growth?
- How does the growth in one metropolitan area’s economy compare with growth in other metropolitan areas, with the state, with the Nation?
According to this preliminary data, the St. Louis MSA had the greatest economic output of Missouri’s metropolitan areas. The fastest growing Missouri metropolitan areas from 2004 to 2005 were the Columbia and Springfield MSAs.
Real GDP by Metropolitan Area
Source: U.S. Bureau of Economic Analysis
For more information, visit the BEA website.