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Missouri’s economy lagged nation’s in 2011

ST. LOUIS (AP) — Missouri’s economy grew at a slower pace than nation’s this past year.

The St. Louis Post-Dispatch reported Wednesday (http://tinyurl.com/7j5sngc) that new federal Commerce Department figures show Missouri’s economy in 2011 grew by just 0.04 percent when adjusted for inflation. That compares with a national average of 1.5 percent.

Missouri ranked 43rd among states in economic growth. Last year was the third straight year Missouri’s economy lagged the nation as a whole.

Nearly every sector of Missouri’s $250 billion economy either shrank or grew slower than average.

But state officials note the numbers are just estimates and say Missouri is faring well by other measures. Missouri’s unemployment rate is below the national average and the state also has done well in recent reports on exports to entrepreneurship.

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Information from: St. Louis Post-Dispatch, http://www.stltoday.com

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