GDP growth nationwide in 2013 was led by metro areas in the Mountain West, the U.S. Department of Commerce said Tuesday.
Gross domestic product expanded in 16 of 21 metro areas in the region, with oil and gas exploration making big contributions in Colorado, Utah, Wyoming and Montana.
Oil and gas extracted from the Niobrara shale formation pushed GDP in Greeley up 10.1 percent to $9.5 billion, the second-highest percentage change in the nation, according to the .
GDP in the Denver-Aurora-Lakewood metro area logged growth of 4.3 percent to $178.9 billion, the nation’s 47th largest GDP gain, also led by natural resources and mining. Finance, insurance, real estate rental and leasing together were the second biggest contributor.
GDP is defined as the value of all goods and services produced in a given year in a specified area.
Casper’s GDP grew 7.1 percent, the 11th largest gain in the nation, to $7.5 billion, attributed to mining activities. Billings, Mont., also logged a 7.1 percent increase, to $9.3 billion, the 12th greatest gain, on improvement in nondurable-goods manufacturing.
Salt Lake City experienced growth of 2.5 percent to a GDP of $76.2 billion.
GDP expanded 3.2 percent, to $20.3 billion, in Boulder and 2.9 percent, to $12.6 billion, in Fort Collins. Colorado Springs lost 0.2 percent, to $26.8 billion.
Nationwide, GDP increased in 292 of the nation’s 381 metro areas in 2013, led by widespread growth in finance, insurance, real estate, rental and leasing.
GDP for U.S. metro areas increased an average of 1.7 percent in 2013 after increasing 2.6 percent in 2012.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/ howardpankratz
