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. 1  The 2010 data for US regions are provisional estimates published by the Bureau of Economic Analysis on 7 June 2011.
8  BIS central bankers’ speeches  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.