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BOOM OR BUST: Maps Shows Fastest Growing Cities in the US

This is the map that shows the fastest growing cities in the country, according to a new report on GDP growth across metropolitan areas.

Cities in Texas and Indiana are booming largely thanks to a booming oil industry, but metropolitan areas of Louisiana are going backward as the petroleum industries in those areas slumped, the fascinating report released by the Bureau of Economic Analysis on Tuesday revealed.

Overall, real GDP in U.S. cities increased 2.5 per cent last year. This is up from an increase of 1.7 per cent on 2011.

The highest ranking cities for GDP growth were Midland, Texas, with a boom of 14.4 per cent, and Odessa, Texas with 14.1 per cent GDP growth.

Trade growth, both wholesale and retail, was widespread — 363 of the nation’s 381 metropolitan areas experienced positive contributions to growth — and was the main reason Texas performed so well in 2012.

According to Dallasnews.com, a resurgence in the oil and gas industry in the Southwest specifically led to the strong growth.

Elkhart-Goshen, Indiana and Columbus, Indiana came third and fifth respectively on the list of fastest growing metropolitan areas, with overall real GDP growth of 11.4 per cent and 9.6 per cent.

Read more: dailymail.co.uk

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