Posted 6/30/2014 12:00 am
A government report earlier this month on gross domestic product included revised figures that affected data on Arkansas’ growth rate back to 1997, according to Michael Pakko, the state economic forecaster.
“Although Arkansas’ growth rate in 2012 was revised downward, the revisions generally paint a picture of stronger long-term growth for the state,” Pakko said. 2010 and 2011, the immediate post-recession years, “saw much stronger growth than previously estimated.”
Arkansas GDP growth was 28.3 percent during 2002-12, up from the previously reported 16.5 percent, he said.
“After the data revisions, Arkansas growth over the past several years is now estimated to have exceeded that of the U.S. as a whole,” said Pakko, an adjunct professor at the University of Arkansas at Little Rock’s College of Business.
More about the Bureau of Economic Analysis report and Arkansas GDP can be found on his blog, ArkansasEconomist.com.