CITIES DRIVE MOST U.S. ECONOMIC ACTIVITY: REPORT Source: Americantownandcountry.org, Michelle M. Havich, Editor, First Published July 10th, 2025 Cities account for 90.8% of the U.S. GDP, according to the 2025 Metro Economies Report. The U.S. Conference of Mayors released the report, which S&P Global Market Intelligence prepared, at its annual meeting in June.The report found that cities account for 89.5% of personal income, 92.1% of wages and salaries, 88.2% of employment, 90.3% of employment change and 86.4% of population. The gross metro product of the top 10 metro areas ($9.67 trillion) exceeds the output of 37 states ($9.45 trillion), the report states. In 37 states, metro areas contribute more than 80% of the state GDP. “The vast majority of the growth that we see in the U.S. economy is really driven by the 386 metros in the U.S.,” Karen Campbell, associate director, consulting, with S&P Global Market Intelligence, said when presenting the report at the USCM meeting. National trends and recent policies will “impact the metros’ ability to really be that engine of growth,” she said.Thus,“our forecast “shows soft growth in the near term reflecting the fallout from tariffs, higher inflation, diminished fiscal tailwinds and restricted Opening Lines 7 BUSINESS VIEW MAGAZINE VOLUME 12, ISSUE 07
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