Eugene MSA’s GDP Growth is Comparable to the U.S. Average in 2017November 13, 2018 The Eugene Metropolitan Statistical Area’s (MSA) , or Lane County’s, Gross Domestic Product (GDP) rose 2.0 percent in 2017 according to the Bureau of Economic Analysis, making it the 151st fastest growing economy out of 383 MSAs in the U.S. The 2017 growth rate slowed somewhat from 2016 when it was 2.8 percent.
The overall growth rate for U.S. MSAs was 2.1 percent while Oregon’s 2017 growth rate was 2.5 percent. The percent change in real GDP by metropolitan area ranged from 12.1 percent in Odessa, Texas to -7.8 percent in Enid, Oklahoma.
GDP measures the dollar value of final goods and services, meaning those that are bought by the final user, produced in a region in a given period. It is used as a comparative measure of the relative size and performance of an area’s economy.
The Eugene MSA’s economy grew by $268 million in 2017 to reach $13.6 billion, making it the 155th largest MSA economy in the U.S.
At the industry level, financial activities, education and health services, trade, and manufacturing contributed the most to GDP growth in 2017, making up 83 percent of total growth. The three industries contributing the most growth at the national level were professional and business services, wholesale and retail trade, and financial activities.
For more information on GDP, visit the Bureau of Economic Analysis.