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Connecticut News

Connecticut records the 12th highest GDP growth in the nation

Money
John Guccione
/
Pexels

Connecticut has the 12th highest economic growth in the country, according to the latest GDP figures released by the Bureau of Economic Analysis of the U.S. Department of Commerce.

Those figures show Connecticut at 7.7% growth in the last quarter of 2021. That's higher than the national average of 6.9%.

In the Northeast, the state is second to Massachusetts, which had a 7.8% growth.

“The good news is I think the state has momentum. Our economy is growing and continuing to grow and that allows us to make some of the investments in the bond commission in a way that would make a big difference for the state going forward.” said Governor Ned Lamont.

He spoke after he chaired a state bond commission meeting that voted to approve $600 million in new borrowing.

Most of the money would be used to fund transportation projects, municipal aid and IT infrastructure.