Twin Cities' GDP among top 5 in nation for growth


The Twin Cities was among the top five metro regions in the nation for economic growth in 2012, according to data released Tuesday by the U.S. Bureau of Economic Analysis, the Pioneer Press reports.

Solid growth in financial services and durable goods manufacturing helped spur more than $7 billion in economic activity to the Twin Cities, the newspaper notes.

The Star Tribune reports that real estate sales are also propelling an economic surge in the Twin Cities.

Real GDP, which is the value of goods and services produced, adjusted for inflation – ticked up 3.9 percent in the metro last year, according to the report. The Twin Cities was No. 13 among metro areas in real GDP, and it had the fifth-best growth rate.

The four metro areas that grew faster than the Twin Cities in 2012: Houston, Dallas-Fort Worth, San Francisco and Seattle-Tacoma.

Growth was uneven around the state, although most areas saw at least small growth, the Pioneer Press reports. Duluth-Superior metropolitan statistical area, which includes Minnesota's Iron Range, was among those that lost ground, with a 2 percent dip.

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