Wednesday, December 22, 2010

US growth rate slowest in 70 years

New data out indicates that the US growth rate is the slowest it's been since the great depression. Troubled times tend to make people think carefully about adding more mouths to feed, and these past two years have given reason for pause for a lot of Americans.

Here are the fastest growing states (source - Ad Age Dec 22, 2010)

Here are the fastest growing states (by percentage):

State Growth from 2000
Nevada 35.1%
Arizona 24.6%
Utah 23.8%
Idaho 21.1%
Texas 20.6%

Michigan showed the only loss. No states were expected to lose residents but North Dakota, West Virginia, Louisiana, Rhode Island, and Michigan had less than 1% growth in the last decade compared to 9% nationwide.

Today's release has its biggest implications for the US. Congress as it will determine the apportionment for the U.S. House of Representatives. But for marketers it confirms trends we have seen in the American Community Survey releases with warmer states in the South and West picking up residents from the North and East. The racial and ethnic breakdowns will start rolling out next year, giving marketers a detailed picture of the U.S. population by that tally.

These are numbers we'll follow even closer in the coming months trying to determine where the North American markets will be coming from, as all eyes continue to look towards China for continued strong international growth.

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