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June 7, 2013

The economy grew by 1.3 percent in New Jersey during 2012 -- an improvement over the past few years -- but the Garden State still lags behind the nation as a whole, which increased by 2.5 percent, according to the U.S. Bureau of Economic Analysis.

The BEA measures Gross Domestic Product and ranked New Jersey 37th for 2012, up from 47th in 2011. North Dakota had the highest growth in GDP at 13.5 percent, followed by Texas at 4.8 percent, Oregon (3.9 percent), Washington (3.6 percent), California (3.5 percent,) and Minnesota (3.5 percent).

New Jersey Policy Perspective released a statement saying the analysis shows that New Jersey’s economy is still “fragile” and was not worth celebrating, since it was the fourth consecutive year and 10th of the last 11 years that New Jersey’s economy fared worse than the nation’s as a whole.

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