Austin economy ranked 39th in the country in 2006

From Austin Business Journal, September 25, 2008...

Just as the nation is struggling to avoid a potential financial crisis, new figures released on Thursday show just how well the economy was performing in recent years.

The gross domestic product—or total value of goods and services produced by labor and property—grew in 308 of 363 U.S. metropolitan areas between 2005 and 2006, according to data from the Bureau of Economic Analysis.

In Austin, the GDP hit $71 billion in 2006, up 11 percent from $64 billion in 2005, figures show. Private industry made up most of those totals, accounting for $56 billion of GDP in 2005 and $61 billion in 2006. The local economy ranks 39th in the nation.

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