Home to the fifth-largest industrial gas market of the eight regions in the US, the Mid-Atlantic gases business was worth just over $2.1bn in 2016 – up from $1.5bn in 2006. This indicates an average annual growth rate of 3.3% in revenues, for the decade (2006-2016).
This perhaps reflects a robust economy; the Mid-Atlantic’s economic growth has remained relatively low and steady since 2000 but is at least resilient, with the region largely unaffected by the financial crisis of 2008-09. Growth rates of 1.5% and 1.1% were observed across those two years. In 2016, the level of GDP growth stood at 2.9%.
Industrial Production, as measured by the Industrial Production Index (IPI) has faced harsher rates of growth over recent years and there have been a number of years of decline, with a decline of 11.3% in 2009. Inflation in the US has generally remained low and steady over the last decade.
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