DENVER BUSINESS JOURNAL - Metro Denver's economy grew at a pace of 4 percent last year, almost double the average rate of the nation's metro areas, according to a new report released today by the federal Bureau of Economic Analysis.
The Denver metro area — including Aurora and Lakewood — had a real gross domestic product (GDP) of $193.2 billion, up from 2014 when it was $187.1 billion.
The growth, however, still leaves the metro area as No. 18 for year-over-year growth out of 382 metropolitan areas ranked in the analysis. The GDP measures the total output of goods and services in a given area.
Denver's real GDP is up due to growth in real estate and rental and leasing, the BEA report says. That sector, which includes insurance and financial services, contributed 1.14 percentage to the area real GDP.
Other sectors that contributed to the increase in 2015 were professional business services, which contributed .91 percentage point; construction was also a top contributor with a .26 percentage point jump; and education contributed.36 percentage point to the GDP.
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