August 30, 2014

Elyria
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Ohio economy grew slightly in 2012

DAYTON — Newly released statistics show Ohio’s economy grew slightly last year for the third consecutive year.

But the state’s real gross domestic product increase of 2.2 percent in 2012 still lagged behind the national average of 2.5 percent.

The Dayton Daily News reports that the statistics are the latest from the U.S. Bureau of Economic Analysis.

Ohio’s growth last year was less than the 2.9 percent increase in 2011. The state’s growth has lagged behind the national average for 13 of the last 15 years.

The real gross domestic product is the total value of all goods and services produced in the state, adjusted for inflation. The new and revised data shows that in 2012 the figure was $435 billion, up from $426 billion in 2011.