BATON ROUGE — The Bureau of Economic Analysis (BEA) announced that the Gross Domestic Product (GDP) grew in Louisiana for the second quarter (Q2) of 2018 at a rate of 4.3 percent, outpacing the national average of 4.2 percent. As a result, Louisiana had the third fastest growing economy in the Southeast region out of 12 states- surpassing nine other states.
“Today’s announcement from the federal government is further proof that Louisiana’s economy is trending in the right direction. We have come a long way over the last three years, but there is no question that our state is doing much better. Our economic growth is ranked the 12th fastest in the nation. I am so optimistic about our state’s future, and while I know that we have more work to do to grow our economy, create jobs and invest in education, I know that by working together we can continue to accomplish great things for Louisiana,” said Gov. John Bel Edwards.
Today’s news follows a report by the BEA earlier this year in which Louisiana’s GDP growth outpaced the nation in the first quarter of 2018 as well.
2018 Q2 GDP Facts:
- Outpaces the national average of 4.2%
- Ranks 12th in the nation fastest growing economy
- Beats out nine other states in the Southeast region including Alabama, Georgia and Mississippi