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WalletHub Ranks Connecticut 14th For Economy, Cites Innovation Potential

A recent WalletHub report ranked Connecticut No. 14 on a list of the states with strongest economies.
A recent WalletHub report ranked Connecticut No. 14 on a list of the states with strongest economies. Photo Credit: File

FAIRFIELD COUNTY, Conn. -- Connecticut leads among "top economic performers" in a detailed economic analysis of the 50 U.S. states and District of Columbia, "2016's States with the Best & Worst Economies," according to WalletHub.

The Nutmeg state ranks No. 8 for its performance in the "innovation potential" category, while the top seven performers are Massachusetts, California, Washington, Utah, Colorado, New Hampshire, and Maryland, reported WalletHub.

Overall, Connecticut ranked 14, an outcome determined by adding the scores assigned to economic activity, economic health, and innovation potential categories, said the report. The analysis looked at these areas in compiling the report.

The year 2015 was a "banner" one according to WalletHub.

This is attributed in the report to the dollar being strong, employment gains, lower prices for oil, spending by consumers and gains in the housing and business sectors, said WalletHub.

The International Labour Organization anticipates "steady growth ahead despite a slowing global economy, according to the report.

Click here to read the full Wallet Hub story.

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