The economies of key US states slowed considerably from a year earlier, according to a U.S. Commerce Department report released today, which signaled that some states may face rocky times ahead.
Altogether, U.S. real gross domestic product by state grew 1.5 percent in 2011, about half the growth experienced in 2010, the report said.
"The recent trend of slowing growth in the overall U.S. economy is a worrisome development for the economic and fiscal outlook for those states still struggling to shake off the ill-effects of the recent recession," Chris Mauro, head of U.S. municipals research at RBC Capital Markets, said in a note.
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