State’s Economy Heats Up in 2nd Quarter
Connecticut’s economy was one of the fastest-growing in the U.S. during the second quarter of 2015—with a GDP pace of 4.8% that was 26% faster than the country overall.
Connecticut was 10th-best in the U.S., and matched the economic growth in New York (8th) and New Jersey (11th).
The Bureau of Economic Analysis also revised Connecticut’s GDP for 2014 from 0.6% to 1%.
Leading Connecticut’s economic growth, said the BEA, were the finance and insurance sectors that propelled 34% of the state’s rise in GDP.
GDP is the total value of goods and services during a specific time.
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