Cleveland economy outpaces Cincinnati, Columbus in 2017

September 19, 2018

Cleveland economy outpaces Cincinnati, Columbus in 2017

CLEVELAND, Ohio -- Cleveland’s economy grew more than Cincinnati’s and Columbus’ last year, according to data released Tuesday by the Federal Bureau of Economic Analysis.

Cleveland’s economy ranks 28th largest in the nation and is the largest economy of Ohio’s metro areas with $139 billion. The local economy grew by 2.9 percent last year.

In 2012, the gross metropolitan product was $114.7 billion. Last year’s economy marks a 21 percent increase since that time.

The Cincinnati economy increased by 2.4 percent in 2017 to $138 billion and the Columbus economy was up 2.1 percent to $136.3 billion, according to analysis that measures the total value of goods and services in an area.

Growth in Northeast Ohio was driven in part by a comeback in manufacturing. The charts also show a strong increase in mining and natural resources industries.

Of the 383 metro areas throughout the country, 312 showed growth in 2017. The average growth rate was 2.1 percent.

Here’s the 30 page report.

This story is updating.

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