Utah just ranked No. 2 in the nation for growth in its quarterly gross domestic product, perhaps giving extra meaning to the state flag that depicts a hive full of busy bees beneath the motto of “industry.”
The state’s gross domestic product — the market value of goods and services produced by the labor and property — grew by 3.2% between the second and third quarters of 2019, according to data released Friday by the U.S. Bureau of Labor Statistics.
The only state with higher growth was Texas, at 4.0%. The lowest in the nation was Delaware, the only state that showed no growth at all.
Utah’s GDP growth rate was 52% higher than the national rate of 2.1%.
The GDP in Utah increased from $187.4 billion in the second quarter last year to $189.8 billion in the third quarter.
The bureau reported that about 16% of Utah’s gains came from the “professional, scientific and technical services” sector; about 15% from information industries; 12% from retail trade; and 9% each from health care and from nondurable goods manufacturing.
Some industrial sectors in Utah produced less than the previous quarter, including finance and insurance, utilities, and agriculture.