US report: Michigan economic growth outpacing nation since 2010, with 2 percent rise in 2013

8/7/2014

LANSING, Mich. — A new federal report says Michigan’s economy has continued its steady recovery from the Great Recession, growing 2 percent in 2013 and staging a faster comeback than the nation as a whole over a four-year span.

The U.S. Bureau of Economic Analysis said Thursday that the nation’s gross domestic product grew 1.8 percent last year. It says Michigan’s 2 percent economic growth rate was ahead of the five-state Great Lakes region as a whole, where it rose 1.6 percent.

The report says Michigan’s economy expanded 5.3 percent in 2010, 2.2 percent in 2011 and 1.5 percent in 2012. It says Michigan’s gross domestic product was $408 billion in 2013, up from $386 billion in 2010.

The figures are in 2009 dollars.