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"It’s important to assess and measure the state’s economic strength by reviewing its progress over the long-term," insists Connecticut Treasurer Shawn Wooden.
“What is the biggest threat to our recovery? Ourselves,” CBIA President and CEO Chris DiPentima declared.
The largest rate of growth from 2018 to 2019 was in Windham County, where GDP rose by 2.6% to about $4.7 billion.
“For us to be successful, we need smart people to come here to learn – and we need those smart people to stay here and work," John Traynor, executive vice president and chief investment officer at the Bridgeport-based bank, said.
During the second quarter, the GDP lost 32.9%.
Connecticut recorded the lowest year-over-year decline among the New England states.
The state is also one of just three – along with West Virginia and Wyoming – whose workforce has shrunk since the Great Recession in 2008.
The state was 42nd in personal income growth and population growth; 49th in gross domestic product growth; and 50th in debt per capita.
Connecticut's third-quarter 2017 performance was led by the finance and insurance industries, followed by manufacturing.
It's the third consecutive year that the two states tied for last place.
The figure equaled the national number, while the New England region posted a 2.1 percent GDP growth.