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Originally Posted by tayser
Fascinating map.
I plead ignorance in a lot of what I'm about to say/ask... however
The Dakotas: what sends North Dakota backwards by 6.5% but sends South Dakota forwards by 1.7%? What are the primary differences between those two states economies? If I understand/remember correctly, this is the part of the US which has Australian-like levels of [outback] population sparsity - resources dependence? agriculture not firing on all cylinders at the moment?
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Yes the energy industry, specifically Oil & Gas, has been in decline for about 2 years now. That also explains TX, AK, LA and OK.
Texas however has already begun to recover and actually topped the nation in Q4 2016 growth and that's due to the oil industry improving but also the state's fast population increases resonating in other industries.
Dallas at the moment is booming btw. Houston is not.
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Is it normal/expected that New York and Illinois are in the realm that they are - less than 1% GDP growth?
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I know that NY( and CA) saw slow downs in their real estate markets towards the end of the year but since February this year things have begun to pick up again.
Imo, the Greater NYC Area( CSA) is the figure to look for as far as NY is concerned because the 4-state encompassing mega region has 23 million people and a $1.7 Trillion GDP as of 2015.
Perhaps our friends from NY and IL might shed some light.