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Wichita economy grows, and a revision

The Wichita economy grew in 2018, and revised statistics show growth in 2017.

Statistics released this month by the Bureau of Economic Analysis, an agency of the United States Department of Commerce, report real gross domestic product (GDP) figures for metropolitan areas. Also included are revised statistics for previous years.

For 2018, the Wichita metropolitan area GDP, in real dollars, grew by 3.3 percent. Revisions to 2017 data show that Wichita GDP grew by 1.7 percent in 2017. Last year BEA reported growth for that year of -1.4 percent.

In the statistics released this month, GDP in 2018 was $32,832,296 thousand, measured in chained 2012 dollars. In 2017 it was $31,780,917 thousand, a change of $1,051,379 thousand or 3.3 percent. For the nation, real GDP grew by 2.9 percent.

The revision to the 2017 GDP may come as a surprise. The nearby chart shows that while GDP rose in that year, employment declined.

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