Business

February 22, 2013

Area GDP in 2011 grew just 0.5 percent

The Wichita area saw anemic growth in 2011, growing just 0.5 percent from 2010 when adjusted for inflation, according to the U.S. Bureau of Economic Analysis.

The Wichita area saw anemic growth in 2011, growing just 0.5 percent from 2010 when adjusted for inflation, according to the U.S. Bureau of Economic Analysis.

The local gross domestic product, the sum of all goods and services produced in the four-county Wichita metropolitan statistical area, was $27.4 billion in 2011.

The GDP remains well below its peak in 2008. The area GDP shrank 7.4 percent in 2009, then grew 1.3 percent in 2010. The growth for 2012 won’t be available until next year.

The 2011 results placed the metro area in the bottom half of all areas of the country for the speed of its recovery.

Locally, business and professional services made up the fastest-growing sector, but most sectors continued to shrink last year.

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