The Bureau of Economic Analysis released its “advance” estimates on metro area GDP for 2010 on Tuesday. For all U.S. metropolitan areas combined, the report showed that real (inflation-adjusted) GDP increased by 2.5% in 2010 after declining 2.5% in 2009. Increases were reported in 304 of the nation’s 366 Metropolitan Statistical Areas (MSAs). As shown in the table below, each of Arkansas’ MSAs showed positive growth, with Fayetteville, Fort Smith, Jonesboro and Pine Bluff all showing growth in excess of the national average. Little Rock was the slowest-growing MSA, but it was also the only metro area in the state to have experienced positive growth in 2009.
The 2010 statistics are classified as “advance” statistics, meaning that they are preliminary and based on incomplete source data. Only time will tell what subsequent revisions to the data will show. Tuesday’s release included revisions to previous years’ data. Each of Arkansas’ MSAs showed a downward revision compared to earlier-released estimates (see Metro Area GDP – 2009).