ABQ Journal (Nov. 17, 2019) – Oil and gas production grew New Mexico’s economic output by the fourth-highest rate in the country this year, as the extraction industry boomed in the Permian Basin in the southeast corner of the state.
A report from the Bureau of Economic Analysis, an arm of the U.S. Department of Commerce, showed New Mexico’s gross domestic product grew by 4.1% in the second quarter of 2019, tied with Alaska and behind Texas at 4.7% and Wyoming at 4.2%.
Nationwide, GDP grew by 2%, records show, and New Mexico also grew by 4.1% during the first quarter of 2019.
Major GDP Uptick in New Mexico Linked to Oil & Gas
