Alabama’s economy is booming under the leadership of Governor Kay Ivey and the Republicans in the State Legislature, according to the latest data released this month by the U.S. Bureau of Economic Analysis.
The data, which covers quarter two of 2018, showed Alabama with a 3.8 percent GDP growth, which bested the bordering states of Tennessee and Mississippi, along with the state Alabama is most compared with economically, South Carolina, which had a 3.2 percent GDP growth rate in quarter two.
Alabama’s 3.8 percent growth rate was essentially tied with Georgia, as well, which saw 3.9 percent GDP growth.
New State #GDP data from @BEA_News show that #Texas led the country with 6.0% GDP growth in Q2, followed by #Michigan at 5.4%, then #Missouri at 5.1%. Thanks to @RealDonaldTrump’s economic policies, all U.S. states grew in Q2. https://t.co/tudhwmV3D7 … pic.twitter.com/yOihlldVJw
— Sec. Wilbur Ross (@SecretaryRoss) November 17, 2018
Alabama’s growth was driven most by increases in real estate, professional, scientific and technical services, utilities, durable goods manufacturing, information and agricultural sectors. Construction, health care, mining and oil and gas extraction also significantly helped the Yellowhammer State’s GDP growth rate for the quarter.
The Ivey administration has been overseeing record bests in the state for the number of people working and the unemployment rate, hence Ivey’s slogan, “Alabama is working again.”
With the recent surge in Alabama’s economy comes new challenges for the state, as studies have shown that the state’s lagging infrastructure must be addressed for the success to continue down the road.
Ivey and the leaders in the statehouse (Senate Pro Tem Del Marsh and Majority Leader Greg Reed, as well as House Speaker Mac McCutcheon and Majority Leader Nathaniel Ledbetter) are expected to make an infrastructure package a top priority for the 2019 legislative session.
Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn
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