This piece looks at various indicators of socio-economic progress in India from the rural-urban perspective.
St. Louis Fed board and advisory council members share their perspectives.Real gross domestic product (GDP), the measure of all goods and services produced in the economy, is often highlighted as the key measure of a region’s economic performance. That is not to say that counties belonging to MSAs do not have rural areas, but residents in those rural parts of an MSA are often employed in the urban areas.
Gross domestic product, or GDP, is estimated to have increased by a little over 2 1/4 percent during the past year, and the unemployment rate now sits at 4.1 percent—down more than half a percentage point from a year ago. It is noted that the agriculture and allied services contribution to the GDP of the nation has reduced considerably from 51.88% in 1950 to 13.94% in 2013. Finally:“Efficiencies of high density populations employed in higher value industries collectively generates higher productivity in urban areas, as illustrated by USA state level data showing the pattern of economic output per hour worked versus the rate of urbanization.
The authors acknowledged that counties belonging to MSAs can also have rural areas, but they noted that residents in rural parts of an MSA are often employed in urban areas. 100 Years Later, Our Little Rock Branch is Going Strong The effect is not only a larger share of overall real GDP but also a faster growth rate for this sector in urban counties. See the figure below, which plots average annual real GDP growth by sector in all U.S. counties, including both urban and rural counties.
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PODCASTS, VIDEOS & TOOLS But they also noted some caveats: The BEA’s county-level GDP data are a prototype, and the incorporation of new sources could change the authors’ results.
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And if so, what might be behind this disparity? Real GDP refers to the value of economic output produced in a given period, adjusted according to the changes in the general price level. COMMUNITY DEVELOPMENT Brian Reinbold is a research associate at the Federal Reserve Bank of St. Louis.
BANK SUPERVISION They added that their analysis covered only four years of data, making it difficult to extrapolate trends. FROM THE PRESIDENT
BLOGS & PUBLICATIONS The greater dispersion of growth across nonmetro counties seen in So what is going on? First, annual growth rates across nonmetro counties are more dispersed than those of metro counties. The current Five Year Plan has earmarked USD 1 trillion for infrastructure spend. Friday, June 21, 2019 This can be seen by the lower peak and the fatter tails in the nonmetro distribution.Second, distribution growth across metro areas exceeds nonmetro growth, with an average growth rate of 1.97% compared with 1.68% for nonmetro areas. The bigger economic presence of the government sector in rural counties partially explains their slower growth, the authors noted.The figure above also shows that the distribution of growth for the goods-producing sector is much flatter than the other sectors, the authors pointed out. What is it? Barclays observed that there has been a shift in government spends from rural to urban sector of late.
The effect is not only a larger share of overall real GDP but also a faster growth rate for this sector in urban counties. Barclays observed that there has been a shift in government spends from rural to urban sector of late.
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urban gdp vs rural gdp