I'm creating a dedicated for these figures that I posted in the London thread.
Let's compare how the European and US metro areas have fared in the global crisis that started in 2008.
European regional GDP figures are published by Eurostat, the statistical agency of the European Union. Last month, Eurostat published the 2011 GDP figures for the European regions (it takes longer to calculate regional GDP than national GDP, because of complex allocations of production on a regional basis, so we always have a 3 year lag). The comparisons in this thread will be between 2007 (the peak year before the crisis started) and 2011 (the last available year).
US regional GDP figures are published by the US Department of Commerce. Last September, the US Department of Commerce published the 2012 GDP figures for the metropolitan areas of the United States, but in this thread I will use the 2011 and 2007 figures to make comparisons with the European metropolitan areas based on the same time period.
Eurostat source:
http://epp.eurostat.ec.europa.eu/por.../data/database
US Department of Commerce source:
http://www.bea.gov/newsreleases/regi...ewsrelease.htm
These are the (few) metro areas for which I have made calculations so far (it's
real GDP growth, i.e. after inflation has been deflated). I will add more metropolitan areas later.
Real GDP growth from 2007 to 2011:
- Paris Region: +7.3%
- Berlin metro area: +7.2%
- Washington-Baltimore CSA: +6.5%
- San Francisco Bay Area CSA: +0.4%
- London + 6 home counties: +0.2%
- New York CSA: +0.2%
- Chicago CSA: -2.1%
- Los Angeles CSA: -5.9%
Details below.
Real GDP growth from 2007 to 2011:
- Greater London: +2.6%
- Buckinghamshire: +2.2%
- Kent: -2.1%
- Berkshire: -3.6%
- Surrey: -5.3%
- Essex: -5.8%
- Hertfordshire: -5.9%
TOTAL London + 6 home counties: +0.2%
For comparison, these are the figures for the Paris and Berlin metro areas.
Real GDP growth from 2007 to 2011:
- Val-de-Marne: +13.8%
- Seine-et-Marne: +8.0%
- Hauts-de-Seine: +7.5%
- City of Paris: +7.3%
- Seine-Saint-Denis: +6.7%
- Essonne: +5.8%
- Val-d'Oise: +4.9%
- Yvelines: +4.2%
TOTAL Paris Region: +7.3%
Real GDP growth from 2007 to 2011:
- Teltow-Fläming: +14.4%
- City of Potsdam: +14.2%
- Barnim: +10.2%
- City-State of Berlin: +7.7%
- Potsdam-Mittelmark: +6.7%
- Dahme-Spreewald: +3.8%
- Havelland: 2.7%
- Märkisch-Oderland: +2.5%
- Oberhavel: -1.0%
- Oder-Spree: -2.5%
TOTAL Berlin metro area: +7.2%
Real GDP growth from 2007 to 2011:
- Trenton, NJ (MSA): +4.3%
- New York-Newark-Jersey City, NY-NJ-PA (MSA): +0.5%
- Allentown-Bethlehem-Easton, PA-NJ (MSA): -0.1%
- Bridgeport-Stamford-Norwalk, CT (MSA): -2.6%
- Kingston, NY (MSA): -2.7%
- East Stroudsburg, PA (MSA): -5.2%
- New Haven-Milford, CT (MSA): -5.5%
TOTAL New York CSA: +0.2%
Real GDP growth from 2007 to 2011:
- California-Lexington Park, MD (MSA): +17.7%
- Washington-Arlington-Alexandria, DC-VA-MD-WV (MSA): +7.2%
- Baltimore-Columbia-Towson, MD (MSA): +4.8%
- Winchester, VA-WV (MSA): +3.1%
- Hagerstown-Martinsburg, MD-WV (MSA): +0.7%
- Chambersburg-Waynesboro, PA (MSA): -4.5%
TOTAL Washington-Baltimore CSA: +6.5%
Real GDP growth from 2007 to 2011:
- Kankakee, IL (MSA): -0.3%
- Michigan City-La Porte, IN (MSA): -1.7%
- Chicago-Naperville-Elgin, IL-IN-WI (MSA): -2.1%
TOTAL Chicago CSA: -2.1%
Real GDP growth from 2007 to 2011:
- Oxnard-Thousand Oaks-Ventura, CA (MSA): -1.6%
- Los Angeles-Long Beach-Anaheim, CA (MSA): -5.5%
- Riverside-San Bernardino-Ontario, CA (MSA): -10.5%
TOTAL Los Angeles CSA: -5.9%
Real GDP growth from 2007 to 2011:
- San Jose-Sunnyvale-Santa Clara, CA (MSA): +12.2%
- San Francisco-Oakland-Hayward, CA (MSA): -3.4%
- Santa Rosa, CA (MSA): -6.5%
- Vallejo-Fairfield, CA (MSA): -8.3%
- Stockton-Lodi, CA (MSA): -8.7%
- Napa, CA (MSA): -10.2%
- Santa Cruz-Watsonville, CA (MSA): -13.6%
TOTAL San Francisco Bay Area CSA: +0.4%