US Mayor Article

Key Findings of the 1999 DRI Report on Metro Economies

May 29, 2000

According to the 1999 report, U.S. Metro Economies: The Engines of Americaís Growth, which was prepared by Standard and Poorís DRI for The U. S. Conference of Mayors and the National Association of Counties

  • U. S. metro areas accounted for 85% of the nationís gross domestic product in 1999.

  • Metro areas generated 84% of the nationís employment and 88% percent of the nationís labor income in 1999.

  • Metro economies are responsible for 86%, or more than $2.4 trillion, of the nationís economic growth from 1992 to 1999.

  • 95% of high tech and 94% of business services jobs that were created between 1992 and 1999 were in metro areas.

The report also ranks U. S. metro areas relative to themselves, states and national economies around the world:

  • Metro area economies compare even more favorably with world economies today than they did in 1997 (the first year DRI conducted this analysis); Los Angelesís gross output (i.e. gross metropolitan product {GMP}), for example, increased from 19th to 17th in the world, overtaking Argentina and Russiaís entire economic output.

  • If city/county metro economies were ranked with nations, 48 of the worldís largest 100 economies, and 85 of the top 150 would be U.S. metro areas.

  • The GMP of the ten largest U.S. metro areas exceeds the combined output of 31 states.

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