Construction, health care, other sectors fuel boost in Idaho GDP

newsroom@idahostatesman.comJune 12, 2014 

Idaho is among the most-improved states in the nation for gross state product, according to new data from the U.S. Bureau of Economic Analysis.

Idaho's gross state product rose by 6.9 percent in 2013, the third highest rate in the U.S., which averaged a 3.5 percent increase.

The total value of goods and services produced in Idaho was $62.25 billion in 2013, an increase of $4 billion year over year.

Why? Economic activity from health care, finance, construction and natural resources.

Construction picked up after taking a huge blow in the recession, health care boomed in part because of the growing state population, and natural resources were boosted by economic recovery, according to the Idaho Department of Labor.

"Information and private education services were the only major sectors to see a decline from 2012," the department said.

Adjusted for inflation, Idaho's gross state product rose just over 4 percent, the fifth-highest increase nationally, to more than $57 billion, the department said. The inflation-adjusted national gross product rose 1.8 percent.

Either way, the growth is the "strongest since the peak of the expansion in the mid-2000s," the department said in a press release.

The state's economy, measured by gross product, was "significantly stronger through the recession than previously thought," the department said, adding that the 2013 numbers could be revised later.

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