Since the pandemic hit in 2020, U.S. economists have been concerned about declining gross domestic product, writes Stacker.

Here in Montgomery County, 2022 was a better year for the local economy. Montgomery County’s GDP was $100 billion that year —the third highest of the 67 counties in the state.

Pennsylvania’s overall GDP in 2022 was $912 billion and Montgomery County made up about 10.9% of that.

While the state’s GDP didn’t change much between 2018 and 2022, Montgomery County saw an increase of 6% during the same time period.

Why is the GDP a good measure of economic health? GDP is the dollar amount of the goods and services businesses create over a certain time period.

Declining GDP can be a sign that the country is in a recession.

During the worst part of the pandemic when many businesses had been temporarily shuttered, Congress passed trillions in stimulus money to give the economy a much-needed infusion, but that led to higher prices, affecting Americans’ ability to buy goods and services.

Interest rates have been adjusted for inflation, but now local and national leaders are concerned about higher interest rates.

Read more about Montgomery County’s GDP and economic outlook at Stacker.

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