Louisiana economy ranks worst in US - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Louisiana economy ranks worst in US

Louisiana State Capitol (Source: WAFB) Louisiana State Capitol (Source: WAFB)

Louisiana posted the worst economic performance among the 50 states in 2017, becoming one of only three states where the economy shrank.

Gross domestic product numbers released Friday by the federal Bureau of Economic Analysis measure economic output of each state.

The state's economy contracted by 0.2 percent, getting smaller for the second straight year. Louisiana was hammered by poor economic results in the nondurable goods manufacturing sector, which includes key oil refining and chemical industries.

Nationwide, economic output rose 2.1 percent during 2017.

The Bayou State's economy also shrank in 2016, contracting 0.4 percent.

Louisiana's $246 billion economy remains nearly 6 percent smaller than its 2010 peak, after adjusting for inflation.

Washington grew most among states at 4.4 percent. Economies also contracted in Connecticut and Kansas.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by Frankly