Region’s GDP rose 4.7 percent in 2010

A government report released Tuesday says the Portland-Vancouver region’s gross domestic product climbed by 4.7 percent in 2010, putting the region far above the 2.5 percent average increase for all of the nation’s metropolitan areas. The region’s gross domestic product in 2010 was $124.7 billion, an increase from the recession-dampened $118.8 billion in 2009, the Bureau of Economic Analysis said. Even with that one-year decline from 2009 to last year, the gross domestic product increased by an average of 2 percent a year between 2007 and 2010, noted Scott Bailey, regional economist for the state Employment Security Department. That’s better than the average for all the nation’s metropolitan areas, which dropped slightly in that three-year period, he said.

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Region’s GDP rose 4.7 percent in 2010

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