This week the Bureau of Economic Analysis released new data on recent trends in South Carolina’s GDP.For 2012, GDP (adjusted for inflation) grew 2.5 percent. Yet private goods producing industries (mostly manufacturing) expanded much more rapidly: 4.7 percent. The private-sector-driven manufacturing recovery in South Carolina is impressive. The data confirms the positive stories about plant expansions in aerospace, autos, tires, and other good-producing industries.
GDP for South Carolina in the first quarter of 2013 is not yet available. Recent employment numbers suggest that manufacturing growth has decelerated this year.