WASHINGTON-- Indiana's economy grew 8th fastest among states at the end of last year, according to a report released Wednesday that looks for the first time at quarterly changes in states' economic performance.
"You often hear about how the U.S. economy performed in a given quarter," said Mark Doms, the Commerce Department's undersecretary for economic affairs. "Now you will be able to see how each state did."
The report from the Bureau of Economic Analysis also shows which industries play a more dominant role in Indiana than in other states and which have changed the most since 2005.
In 2013, Indiana's gross domestic product --the total value of goods and services produced in the state -- grew 2.1 percent, higher than the national increase of 1.8 percent. Indiana's GDP of more than $294 billion last year ranked its economy 16th largest among the states.
And in the last quarter of 2013, GDP increased 4.2 percent, the 8th largest growth among states. North Dakota and Wyoming led in fourth quarter GDP growth, each with 8.4 percent increases.
An increase in nondurable goods manufacturing was the biggest contributor to Indiana's growth in the fourth quarter, as it was nationwide.
Industries that pulled down Indiana's economy the most at the end of the year were government, retail trade and construction.