It’s no surprise that Connecticut is the only state in the country with negative growth in 2012. Businesses and successful retirees are moving to “Red” states where they’re well treated. You would think Governor Dannel Malloy would get his head out of the sand with these awful numbers. The Wall Street Journal reports:
Connecticut was the only state to post negative economic growth in 2012, the latest indication of its sluggish recovery from the recession and the financial crisis.
Connecticut’s gross domestic product shrank by 0.1%, the worst performance in the U.S., according to a U.S. Bureau of Economic Analysis report released Thursday. Job losses in financial services, the real-estate industry and federal, state and local government were the big reasons why.
New Jersey and New York both grew 1.3% and ranked 36th and 37th in the U.S. respectively. The rest of the country grew more rapidly. The nation’s GDP expanded by 2.5%.