Posts Tagged 'BEA'



State Personal Income: First Quarter 2014

State personal income increased 0.8 percent on average in the first quarter of 2014, an acceleration from the 0.5 percent growth in the fourth quarter of 2013. Personal income grew in 46 states and growth accelerated in 24 of those states. The fastest growth, 1.4 percent, was in Washington state, Vermont, and West Virginia. Personal income fell 2.9 percent in North Dakota, 0.3 percent in South Dakota, and 0.2 percent in Arkansas and Nebraska. Inflation, as measured by the national price index for personal consumption expenditures, was 0.3 percent in the first quarter, the same as in the fourth quarter.

 Personal Income1

Personal Income Growth and Ranks Table

 

 

 

 

 

Advance GDP by State Statistics: Widespread But Slower Growth in 2013

GDPbyState_6_11_14

  • Real GDP increased in 49 states in 2013. Leading industry contributors were nondurable-goods manufacturing; real estate and rental and leasing; and agriculture, forestry, fishing, and hunting.
  • Nondurable-goods manufacturing was the largest contributor to U.S. real GDP by state growth in 2013. This industry was the leading contributor to real GDP growth in 10 states, contributing 2.65 percentage points to growth in Louisiana and 1.19 percentage points to growth in Texas.
  • Real estate was the leading contributor to growth in the New England region and contributed 0.50 percentage point or more to growth in North Dakota, Nevada, and Massachusetts.
  • Agriculture, forestry, fishing, and hunting contributed to real GDP growth in 49 states and the District of Columbia.
  • In North Dakota, the fastest growing state in 2013, mining contributed 3.61 percentage points to the state’s 9.7 percent growth in real GDP.
  • In contrast, government subtracted from real GDP growth in six of eight BEA regions, 39 states, and the District of Columbia in 2013.
  • Alaska was the only state where real GDP decreased in 2013, primarily due to a decline in mining.
  • Per capita real GDP ranged from a high of $70,113 in Alaska to a low of $32,421 in Mississippi. Per capita real GDP for the U.S. was $49,115.

Read the full report.