5 fastest growing (and shrinking) states by GDP

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A new report from the U.S. Bureau of Economic Analysis offers a state-by-state breakdown of real gross domestic product last year. North Dakota saw the largest GDP gain in 2011, up 7.6 percent, while Wyoming experienced the steepest decline (-1.2 percent).

The economies in all but six states expanded in 2011, led by North Dakota and Oregon. Other big gainers were West Virginia, Texas, and Alaska.

(Click for interactive map [1])

Real gross domestic product by state grew 1.5 percent on average last year,  down from 3.1 percent in 2010, according to the report, which was summarized by CNN Money [2].

Here are the top five fastest-growing and fastest-shrinking states:

Fastest growing
North Dakota: 7.6 percent
Oregon: 4.7 percent
West Virginia: 4.5 percent
Texas: 3.3 percent
Alaska: 2.5 percent

Fastest shrinking
Wyoming: -1.2 percent
Mississippi:  -0.8 percent
Alabama: -0.8 percent
New Jersey: -0.5 percent
Maine: -0.4 percent

For more, including an interactive map, see the CNN Money recap [2].