Oklahoma City metro ranks 6th in national economic growth, Brookings report finds

Strong employment growth helped the Oklahoma City metro rank high in a Brookings Institution report on metropolitan economies around the world. The Oklahoma City area came in at No. 71 in a global ranking of 300 metropolitan areas.
by Paul Monies Modified: November 29, 2012 at 10:07 pm •  Published: November 30, 2012
Advertisement
;

Macau, a former Portuguese colony that is now a special district of China, was the top performer among global metros. Macau, an island of 567,000, draws heavily on its role as one of the world's top gambling destinations. Large metros in China claimed 13 of the top 20 spots in the report.

Brookings' analysis found the fastest-growing metro economies were in developing countries in Asia, Latin America, the Middle East and Africa. The slowest-growing metros were in developed countries in North America and Western Europe.

The report said national and local factors influence metro economic growth. In the short term, the previous year's economic measures and industry performance affect growth. Long-term growth in the standard of living depends on national factors, per capita GDP and metro-specific factors such as industry specialization and educational attainment, Brookings said.

“2012 also highlighted the interdependence among developed and developing metro areas, with macroeconomic shocks traveling quickly through financial and trade channels and through extended global supply chains,” Istrate said. “Metro areas cannot build their way to prosperity on their own; they must work with national and state governments and other metro areas, near home and abroad, to establish their ‘collaborative advantage' and secure future growth.”


by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
+ show more


Trending Now


AROUND THE WEB

  1. 1
    College of Charleston president orders second investigation of Doug Wojcik
  2. 2
    Joe Paterno's son Jay sues Penn State for 'improper termination'
  3. 3
    Former Dallas Cowboys running back Robert Newhouse dead at 64
  4. 4
    Oklahoma man gets consecutive 20-year terms for rapes of intellectually challenged classmates
  5. 5
    Angels won't cap former OU pitcher Garrett Richards' innings
+ show more