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MailTribune.com
  • Latest GDP figures show Medford with slow growth

    Its economy grew only 0.4 percent in 2011 and its ranking on metro list drops again
  • Gross domestic product figures released Friday show two out of three metropolitan areas in the United States saw economic growth in 2011 — led by gains in professional and business services, durable-goods manufacturing and trade.
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  • Gross domestic product figures released Friday show two out of three metropolitan areas in the United States saw economic growth in 2011 — led by gains in professional and business services, durable-goods manufacturing and trade.
    The Bureau of Economic Analysis reported growth in GDP in metropolitan areas slowed substantially from last year, increasing 1.6 percent in 2011 after increasing 3.1 percent in 2010.
    The Medford metropolitan area, which includes all of Jackson County, represents the 242nd-largest GDP area in the country at $6.17 billion.
    The 0.4 percent growth ranked No. 213 out of 366 MSAs.
    While it's the highest dollar figure since a revised $6.2 billion in 2008, compared to other MSAs, Medford has yet to shake entirely free of the Great Recession's clutches.
    In 2007, Medford was No. 219 among the nation's local economies.
    It has slipped every year — using revised figures — coming in at No. 238 in 2010.
    During 2011, Medford's real GDP rose 0.4 percent, anemic by any standard. Construction, durable-goods manufacturing, nondurable-goods manufacturing, information, education and health services, and leisure and hospitality saw marginal gains. Durable-goods manufacturing was the strongest, with an 0.67 percent advance.
    Natural resources, financial activities, professional and business services, other services, and government faltered, led by an 0.42 percent decline in professional and business services.
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