Structural shifts in the US economy towards services have gradually reduced the value added of manufacturing relative to GDP, with implications for areas with a high concentration of companies in manufacturing industries other than information and communications technology. The sharp fall in house prices in Florida and the south-western US states turned boom into bust.
These states experienced the harshest recession among the US states. But GDP growth in the ”Great Lakes” region, which was below average before the crisis, also remained below average during the crisis. Note that the states with the best economic performance in the United States during the crisis – among them, Wyoming and Alaska – have benefited from their dependence on mining.