Growth Domestic Product

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the factors behind Florida’s inclusion on a list “The Biggest Losers: The 5 Worst State Economies,” as reported by CNN Money.

Each of the states is listed in part due to the decrease in their Gross Domestic Product (GDP) between 2007 and 2013.

Nevada topped the list, with a 10% drop in GDP. Florida followed with a GDP of -7%.  Also in the top five are Connecticut, Arizona and Michigan.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the outlook for 2014. Harper expects this year to be a little bit better than 2013. “The main reason for that is that we’ll see less of a drag coming from the federal sector. The slow down in federal spending last year probably subtracted 1.5 percentage points from GDP (Growth Domestic Product) growth. We could have been up almost 4 percent," Harper says.

According to Harper, the shrinkage in government spending should be less in 2014, with some of the hardest hits already with Sequestration.