Newspaper article Sarasota Herald Tribune

Region's GDP Rose 6.6% in 2015

Newspaper article Sarasota Herald Tribune

Region's GDP Rose 6.6% in 2015

Article excerpt

MEASURING THE ECONOMY

The Great Recession officially ended in 2009, but many economists would argue the recovery has stretched even to this present day.

That notion was supported by real gross domestic product data released this week by the U.S. Department of Commerce's Bureau of Economic analysis.

GDP is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year.

For the North Port-Bradenton-Sarasota metropolitan statistical area, that figure was $23.35 billion in 2010.

Fast forward to 2015 and the region had seen a significant recovery, with the total value of goods and services rising to $28.4 billion, a 22 percent improvement. When comparing 2015 with the previous year, GDP rose about 6.6 percent. A 5.4 percent improvement occurred from 2013 to 2014. …

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