CURRENT ECONOMIC PERFORMANCE
2015 EPI score
| F (Very Poor) |
D (Poor) |
C (Fair) |
B (Good) |
A (Excellent) |
A+ (Superior) |
| <60 | 60-80 | 80-90 | 90-95 | 95-100 | >100 |
Alabama: Slow recovery in Dixie
Alabama had the third worst economic performance in the 2014 EPI state ranking with the EPI score of 82.6%, or C- level. Above US average unemployment, inflation, and budget deficit, along with negative GDP growth in 2014, resulted in a low EPI score.
Automotive manufacturing is Alabama’s largest industry, with Mercedes, Honda and Hyundai all having car centers here. It is the fifth largest manufacturer of cars and trucks in the nation and produces close to one million vehicles a year. Chemicals manufacturing is another primary industry with more than 200 chemical companies located in this state, while technology and ambulatory health care services are also key industries in the state.
Unemployment in Alabama was 6.7% in 2014, slightly higher than the US average. Alabama’s budget deficit was at 7.4% in 2014, down from when it peaked at 12.3% in 2011, but still higher than the US average. The economy turned into recession in 2014 with a negative GDP growth of -1.6%, the state’s first recession since 2009.
ECONOMIC PERFORMANCE HISTORY
EPI COMPONENTS PERFORMANCE HISTORY
Inflation
Unemployment
Budget deficit
GDP Growth
EPI DATA FOR ALABAMA
| Year | Inflation Rate (%) | Unemployment Rate (%) | Budget Deficit as a Percent of GDP (%) | Change in Real GDP (%) | Raw EPI Score (%) | Raw EPI performance | Change From Previous Year |
|---|---|---|---|---|---|---|---|
| 1990 | 5.3 | 6.8 | 3.6 | 1.6 | 86.0 | C | 0.2 |
| 1991 | 3.9 | 7.4 | 4.1 | 2.8 | 87.4 | C | 1.4 |
| 1992 | 2.7 | 7.6 | 4.7 | 4.3 | 89.3 | C+ | 1.9 |
| 1993 | 3.1 | 7.3 | 3.7 | 1.5 | 87.3 | C | -1.9 |
| 1994 | 2.7 | 6.2 | 3.4 | 4.0 | 91.7 | B | 4.3 |
| 1995 | 3.0 | 5.9 | 2.8 | 3.4 | 91.6 | B | 0.0 |
| 1996 | 3.1 | 5.2 | 2.6 | 3.4 | 92.6 | B | 0.9 |
| 1997 | 2.1 | 5.0 | 1.2 | 4.5 | 96.2 | A | 3.7 |
| 1998 | 1.3 | 4.4 | 2.3 | 3.5 | 95.6 | A- | -0.6 |
| 1999 | 1.9 | 4.7 | 3.0 | 3.8 | 94.2 | B+ | -1.4 |
| 2000 | 3.2 | 4.6 | 4.1 | 1.6 | 89.7 | C+ | -4.4 |
| 2001 | 2.4 | 5.1 | 2.0 | 0.9 | 91.5 | B | 1.7 |
| 2002 | 1.3 | 5.9 | 4.9 | 2.7 | 90.6 | B- | -0.9 |
| 2003 | 2.3 | 6.0 | 5.8 | 2.4 | 88.3 | C+ | -2.2 |
| 2004 | 2.6 | 5.7 | 5.2 | 5.7 | 92.2 | B | 3.9 |
| 2005 | 3.6 | 4.5 | 3.3 | 2.8 | 91.4 | B | -0.9 |
| 2006 | 3.4 | 4.0 | 2.6 | 1.4 | 91.3 | B | -0.1 |
| 2007 | 2.9 | 4.1 | 3.2 | 0.2 | 90.1 | B- | -1.2 |
| 2008 | 4.2 | 5.9 | 9.1 | -0.3 | 80.6 | D+ | -9.5 |
| 2009 | -0.4 | 11.1 | 11.2 | -3.3 | 74.0 | D | -6.6 |
| 2010 | 1.7 | 10.5 | 11.4 | 2.2 | 78.6 | D+ | 4.6 |
| 2011 | 3.4 | 9.6 | 12.0 | 0.9 | 76.0 | D+ | -2.7 |
| 2012 | 2.1 | 8.0 | 6.2 | 1.0 | 84.7 | C | 8.8 |
| 2013 | 1.6 | 7.1 | 6.2 | 0.8 | 85.9 | C | 1.2 |
| 2014* | 1.7 | 6.7 | 6.3 | 0.9 | 86.2 | C | 0.4 |
| 2015* | -0.2 | 6.1 | 6.7 | 2.6 | 89.6 | C+ | 3.3 |