Mississippi 1 of 2 States Where Economy Shrank in 2014

JACKSON, Miss. (AP) — New figures show Mississippi’s economy shrank by 1.2 percent in 2014, one of only two states where economic output got smaller last year.

Gross domestic product numbers released Wednesday by the federal Bureau of Economic Analysis try to measure all of the economic output of each state.

Mississippi’s 2014 performance was worse than all states but Alaska, where the economy shrank 1.3 percent in 2014. It’s the second year in a row that Mississippi’s economy has gotten smaller. Figures originally showing slow growth in 2013 have been revised down to show the Magnolia State’s economy shrank 1.1 percent in 2013.

Construction, agriculture and government all contracted in Mississippi’s $105 billion economy.

Nationwide, economic output grew 2.2 percent.

Mississippi retained the lowest per-capita gross domestic product of any state – $31,551.

Categories: Local News, State News

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