South Dakota ranks low for 2012 economic growth - KOTA Territory News

South Dakota ranks low for 2012 economic growth


South Dakota's economy is improving in spite of last year's drought, but barely. According to a report by the Bureau of Economic Analysis, South Dakota ranked 46th out of the 50 states.

The state's growth rate was just point two percent last year.

That's partly because the agriculture, forestry, fishing, and hunting industries produced the lowest amount of money since 2007.

Financial expert Rick Kahler says South Dakota usually has a good economy and the low rate is nothing to be worried about.

"It's pretty normal that an economy is going to cycle and we're very dependent in South Dakota on agriculture, so that is one of the things that hurt us in our GDP growth last year was the drought," said Kahler.

Kahler says in the past South Dakota economy has been ranked in the top.

In 2011, the state's growth rate was 4.4 percent.

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