New Hampshire’s economic output grew by 3 percent in 2016, the fourth highest rate in the country.
A new report from the Bureau of Economic Analysis shows the state’s finance and insurance sector helped fuel that performance, along with gains in retail and durable goods manufacturing.
In the fourth quarter of 2016, New Hampshire’s GDP kicked up at an annualized rate of 2.4 percent, a slowdown from the 4.6 percent growth seen in the third quarter of 2016.
New Hampshire’s GDP growth last year was tops in New England. Washington and Oregon had the fastest growth in the nation, at 3.7 percent and 3.3 percent, respectively.
The nation’s real GDP growth slowed to 1.5 percent in 2016, according to the BEA, after increasing 2.6 percent the previous year.