Economic conditions across the country continue to improve, according to the Bureau of Economic Analysis’ (BEA) latest release of gross state product (GSP) data. GSP is derived as the sum of the gross domestic product originating in all the industries in a state. The period between 2008 and 2009, where the U.S. GDP decreased by 2 percent, marked a transition for many states, where their gross state product either decreased from the year before or where their growth rate was subdued. Since then, however, every state has experienced at least a 10 percent increase in gross state product from 2009 to 2014. During this time, the U.S. GDP has increased by 20.8 percent, roughly 3.8 percent per year.
