Minnesota's economy gained speed at the start of 2023

30 Jun 2023


Minnesota's economy grew slightly faster than the country's overall to start 2023.

Adjusted for inflation, the state's gross domestic product rose 2.2% on an annualized basis over the first three months of the year, according to the U.S. Bureau of Economic Analysis.

The nation's first quarter GDP growth, which was revised upwards this week, came in at 2%.

GDP measures the total value of economic output. In the first quarter, Minnesota's goods and services adjusted for inflation amounted to $354 billion per year, the U.S. Commerce Department said Friday.

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