Economic growth better in Louisiana than Texas

A federal government analysis of the period from 2005 through 2013 revealed that Louisiana’s gross domestic product, or GDP, increased by 5.4 percent, third highest in the nation.
According to a report by the U.S. Bureau of Economic Analysis, released Aug. 20, North Dakota and Wyoming, with their oil and gas boom, tied for top producers with 8.4 percent increase in GDP each. West Virginia was second with 7.5 percent.
The national average was 2.8 percent over that period.
Texas grew by 4.3, Arkansas an even 3 percent, and Mississippi lost ground by minus 3 percent.
“This is not a surprising result given that Louisiana’s economy has outperformed that of the South and U.S. overall since January 2008, whether considering job growth, unemployment, GDP growth, or other economic measures,” Louisiana Economic Development Secretary Stephen Moret told The Times-Picayune.
Moret noted that the Jindal administration took office in 2008.
“Most importantly, over the next five-plus years, the outlook for job growth and state GDP growth in Louisiana is excellent,” he said.
GDP is the sum of what consumers, businesses, and government spend on goods, services and investment. It’s commonly used as a primary economic indicator.