Boyd Center says State’s growth in 2025 will exceed the nation
The outlook was part of the "2025 Economic Report to the Governor of Tennessee."
With the effects of the pandemic and economic recovery largely behind it, Tennessee’s economy is expected to find a more stable growth path and expand faster than the U.S. overall in 2025, according to a new report by the Boyd Center for Business and Economic Research at the University of Tennessee, Knoxville.
It was issued six days before Christmas and the same day we did not publish teknovation.biz, hence the delay in posting the outlook. Titled the “2025 Economic Report to the Governor of Tennessee,” the results used data available through the second quarter of 2024. Those project that Tennessee’s economy will have grown at a slightly slower rate than the nation in 2024 but will experience faster growth in 2025.
“This is largely driven by timing, as Tennessee’s economy recovered much more quickly from the pandemic and is therefore stabilizing sooner as well,” said Larry Kessler, Research Associate Professor at the Boyd Center and Project Director.
Tennessee’s inflation-adjusted gross domestic product (real GDP) is projected to have grown by 2.4 percent in 2024 and to grow by 2.5 percent in 2025, while the U.S. economy is expected to grow by only 2 percent in 2025 after a growth rate of 2.7 percent in 2024. Tennessee’s slight dip follows substantial growth of 9 percent in 2021 and 4 percent in 2022, indicating a rapid economic recovery and ongoing stabilization.
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