Colorado Springs Metro Area sees GDP growth 1.5% higher than US [Video]

COLORADO SPRINGS — New data from the Bureau of Economic Analysis (BEA) showed the GDP for the Colorado Springs Metropolitan Area grew at a rate 1.5% higher than the US overall from 2022 to 2023, which is a promising sign for the local economy.

The GDP, or Gross Domestic Product, is the main measure of the size of an economy. It’s the total value of goods and services produced in an area over a period of time.

According to the BEA, the Colorado Springs Metropolitan Statistical Area (MSA) had a total GDP of $53 billion in 2023. It grew 4.4% over the previous year compared to 2.9% for the US economy overall in the same period.

The Colorado Springs MSA includes both El Paso and Teller Counties. There are 384 MSAs in the United States, which are urban areas with more than 50,000 people. Colorado Springs was the 78th largest metro area economy …