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News Brief

June 8, 2012 |  By: Wayman

MO Economy

A new report released by a federal agency shows Missouri's Gross Domestic Product growth was stagnant in 2011.

That means the state's GDP was essentially unchanged between 2010 and last year. The real estate and construction sectors both faced sharp declines. Agriculture took a 9 percent hit. Missouri economist Bruce Domazlicky says several factors contributed to the sluggish growth, such as lack of demand for goods and services.

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A Missouri Department of Economic Development spokesman cautions the report is only an estimate and the numbers could be revised upward later in the year pointing to an unemployment rate lower than the national average and growth in exports.