The Wichita economy shrank in 2017, but revised statistics show growth in 2016.
Statistics released today by the Bureau of Economic Analysis, an agency of the United States Department of Commerce, show gross domestic product (GDP) figures for metropolitan areas. Also included are revised statistics for previous years.
For 2017, the Wichita metropolitan area GDP, in real dollars, fell by 1.4 percent. Revised statistics for 2016 indicate growth of 3.8 percent for that year. Last year BEA reported growth of -1.4 percent.
In the revised statistics released today, GDP in 2016 was 28,346 million in chained 2009 dollars. In 2017 it was 29,610 million, a change of 1,264 million or 4.4 percent. For all U.S. metropolitan areas, the same statistic increased from 13,692,212 million to 15,224,212 million, an increase of 1,532,000 million or 11.2 percent.Learn how you can support the Voice for Liberty. Click here.