State economy nearly stalled in 2007

June 16, 2008

Indiana's economy expanded only 0.3 percent, to $246.4 billion, last year, new figures from the U.S. Bureau of Economic Analysis show. The growth is on top of inflation.

Only seven states performed worse. Indiana was hit hard by the slowdown of the Detroit auto industry, according to a blog written by Bill Testa, a vice president of the Federal Reserve Bank of Chicago.

Gross domestic product measures the total value of goods and services produced.

The national economy grew 2 percent last year.

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