Albuquerque was just barely among 74 metro areas that showed increased economic activity during 2009. Real gross domestic product (GDP) declined in 292 metro areas from 2008 to 2009, according to figures released yesterday by the Bureau of Economic Analysis. The figures are preliminary for 2009 and revised for 2008. The numbers are adjusted for inflation.
Overall, in the nation’s 366 metro areas, GDP dropped 2.4% in 2009, following a 0.4% decline in 2008.
The Albuquerque metro GDP increased just 0.3% (three tenths of one percent) to $35.5 billion. Though Albuquerque’s economy has grown every year since 2006, it has been stagnant, showing 3% growth for the period.
Albuquerque’s metro GDP ranked 60th among the 366 metros in 2009.
Las Cruces grew every year between 2006 and 2009. The 2009 increase of 2% brought the economy to $5.4 billion. The Las Cruces GDP ranked 252nd during 2009.
Farmington’s economy took the hit in 2009, declining 16%, or just over $1 billion, during the year to $5.2 billion. Farmington’s economy placed 261 during 2009.
For the Santa Fe GDP, 2009 also showed a decrease. The drop was 5%, bringing the local GDP to $6.7 billion.
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