“However, our conclusion that rural areas grow more slowly than urban areas is corroborated by other studies,” the authors wrote. He joined the St. Louis Fed in 2006. 100 Years Later, Our Little Rock Branch is Going Strong ECONOMIC EDUCATION BANK SUPERVISION

“In other words, firms (particularly service firms) experience greater productivity by locating in cities where they have easier access to resources like airports and large pools of consumers.”Though technological improvement may reduce agglomeration benefits, in many instances such improvements have increased those benefits, the authors observed.“For example, urban hospitals can use a city’s amenities to attract physicians and then utilize telemedicine to provide services to rural areas,” they wrote. After all, Pennsylvania’s much less rural than New Hampshire, and on average, it contributes about the same to the national GDP. Barclays observed that there has been a shift in government spends from rural to urban sector of late. They broke down GDP into three major economic sectors:The table below shows the share of GDP for each sector in both urban and rural counties.The authors pointed out the sizable difference in share of GDP generated by the private service-providing sector in urban and rural counties: In urban counties, about 70% of their GDP comes from this sector; in rural counties, this share is 52%. Between 2001 and 2011, India’s urban population increased by 31.8 per cent as compared to 12.18 per cent increase in the rural population.

The median values show greater divergence—1.70% (metro) and 1.18% (nonmetro).

See the figure below, which plots average annual real GDP growth by sector in all U.S. counties, including both urban and rural counties. StateImpact New Hampshire was a reporting project of New Hampshire Public Radio and NPR focused on explaining how business and economic issues affect you. These two types of county clusters provide a succinct way to compare growth in urban (metro) areas and rural (nonmetro) areas.Figure 1 plots the distribution of average annual real GDP growth rates for metro counties and nonmetro counties between 2012 and 2015.A few points emerge from this figure.

The BEA recently released county-level GDP, thus providing another way to analyze differences between urban and rural areas in the U.S. Data suggest that rural areas have been growing more slowly because of greater exposure to the government sector and lower exposure to the private service-providing sector. While the gap in service-sector shares between metro and nonmetro counties is narrower in the District, the gap in median performance is slightly wider: 1.46% growth for metro counties and 0.32% growth for nonmetro counties.The goods-producing sector also plays a major role in explaining the divergent outcomes in the District.

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. The figure below shows the distribution of average annual real GDP growth rates for urban counties and rural counties between 2012 and 2015. The current Five Year Plan has earmarked USD 1 trillion for infrastructure spend. While these rural-urban gaps have diminished markedly, substantial differences persist. However, it can be misleading to do an apples-to-apples comparison of a GDP of $1 trillion in 2008 with a GDP of $200 billion in … The greater dispersion of growth across nonmetro counties seen in So what is going on? St. Louis Fed board and advisory council members share their perspectives.Is there an urban-rural divide in the U.S. when it comes to economic growth? The median service-providing sector growth rate in metro counties was 2.12%, compared with 1.17% in nonmetro counties.Lastly, notice in Figure 2 that the distribution of growth across the goods-producing sector is much flatter than the distribution of growth in the other two sectors. FROM THE PRESIDENT Nominal GDP vs Real GDP Video. St. Louis Fed board and advisory council members share their perspectives.Is there an urban-rural divide in the U.S. when it comes to economic growth? BLOGS & PUBLICATIONS BANK SUPERVISION

The median growth rate of the service-providing sector was 2.12% in urban counties, compared with 1.17% in rural counties, according to the authors. ECONOMIC EDUCATION Calculating real vs nominal GDP. Thus, the greater dispersion of economic growth across rural counties can be attributed to the bigger role that the goods-producing sector plays in those counties, they noted.

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