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State’s GDP up 3.6 percent in 2016’s third quarter

Led by growth in the finance and insurance, wholesale trade and information industries, New York’s real GDP—calculated as the sum of what consumers, businesses and governments spend on final goods and services, plus investment and net foreign trade—grew by 3.6 percent in the third quarter of 2016, according to annualized, seasonally adjusted data published by the Bureau of Economic Analysis on Feb. 2. The state’s current-dollar GDP was $1.49 trillion or 8.1 percent of the total U.S. GDP for the third quarter of 2016, according to the BEA report.

2/10/2017 (c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email rbj@rbj.net.
 

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