DPNM: New Mexico GDP Heading the Wrong Direction Under Gov. Martinez

Albuquerque, N.M. – Governor Martinez’s lack of leadership on the economy was highlighted in a new report today from the Bureau of Economic Analysis (BEA).  The BEA, a federal government agency under the Department of Commerce, released new gross domestic product (GDP) data for the third quarter of 2016.  The BEA’s analysis placed New Mexico at the bottom of GDP growth among the 50 states and the District of Columbia for the quarter.  According to the BEA’s statement, GDP growth for the quarter in New Mexico was -0.1 percent. Debra Haaland, Chairwoman of the Democratic Party of New Mexico, issued the following statement Thursday in response to this analysis:

“We are once again seeing New Mexico at the bottom of a positive economic indicator list.  Under Governor Martinez’s leadership, New Mexico’s economic prospects have continuously worsened to the point that our economy is actually shrinking.  This is just one more sign that Governor Martinez’s failed Republican economic agenda is not working for the state.  For New Mexico to turn around, the state must invest in early childhood education and work toward creating good-paying jobs, not enacting tax cuts for the well-connected.”

This Bureau of Economic Analysis release comes shortly after a report highlighting stagnant population growth in New Mexico resulting from a faltering economy.