Archive for June, 2012



Widespread State Economic Growth in 2011

Real GDP increased in 43 states and the District of Columbia in 2011. Leading industry contributors were durable-goods manufacturing; professional, scientific, and technical services; and information services.

Durable-goods manufacturing was the leading contributor to real GDP growth in 26 states, contributing 3.94 percentage points to growth in Oregon and 1.17 percentage points to growth in Michigan.

Professional, scientific, and technical services was the largest contributor to real GDP growth in the District of Columbia, Virginia, Massachusetts, New York, Maryland, New Jersey, Florida, and Arkansas.

Information services was the largest contributor to real GDP growth in Colorado and Utah.

In North Dakota, the fastest growing state in 2011, mining contributed 2.81 percentage points to real GDP growth.

In contrast, several industries subtracted from real GDP growth in 2011. Real estate, rental, and leasing subtracted the most. This industry subtracted from real GDP growth in 40 states.

Per capita real GDP ranged from a high of $63,159 in Delaware to a low of $28,293 in Mississippi. Per capita real GDP for the U.S. was $42,070.

To learn more about gross domestic product by state, read the full report.

Real Consumer Spending Picks Up in April

Personal income increased 0.2 percent in April after increasing 0.4 percent in March.

Current-dollar disposable personal income (DPI)—after-tax income—increased 0.2 percent in April after increasing 0.4 percent in March.

Real DPI—income adjusted for taxes and inflation—increased 0.2 percent in April, the same increase as in March.

Real consumer spending—spending adjusted for price changes—rose 0.3 percent in April after being flat in March.

Spending picked up on both goods and services.

Prices increased less than 0.1 percent in April after increasing 0.2 percent in March. Excluding food and energy, prices increased 0.1 percent in April after increasing 0.2 percent in March.

Personal saving as a percent of DPI was 3.4 percent in April, compared with 3.5 percent in March.

To learn more about personal income and outlays, read the full report.