Syracuse area's economic growth trailing rest of nation: economistPosted on January 10, 2017 |
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Syracuse, N.Y. — (syracuse.com) The Syracuse area economic growth is trailing the average growth of U.S. metro areas as well as growth in the Albany and Buffalo areas, a bank economist told 600 people at CenterState CEO's economic forecast breakfast today.
Gary Keith, vice president and chief economist for M&T Bank, said the Syracuse area's gross domestic product (GDP) has grown only 1.4 percent since 2007, well below the U.S. metro area average of 10.2 percent, Albany's 11 percent and Buffalo's 9.6 percent.
"This region is growing, but it is not keeping pace with the rest of the country," he said. "I don't think that's that surprising to all of us in the room."
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