Information Industry Group Led Growth Across States in the Fourth Quarter

Real gross domestic product (GDP) increased in 41 states and the District of Columbia in the fourth quarter of 2015, according to statistics on the geographic breakout of GDP released today by the Bureau of Economic Analysis. Real GDP by state growth, at an annual rate, ranged from 3.0 percent in Indiana to –3.4 percent in Wyoming. Information; construction; and professional, scientific, and technical services were the leading contributors to real U.S. economic growth in the fourth quarter.

GDP by State 061416

  • The information industry group grew 10.6 percent in the fourth quarter of 2015. This industry contributed 0.50 percentage point to U.S. real GDP growth and contributed to growth in 49 states and the District of Columbia. This industry was the leading contributor to growth in 16 states and contributed 0.90 percentage point to real GDP growth in California.
  • Construction grew 7.6 percent in the fourth quarter. This industry contributed 0.30 percentage point to U.S. real GDP growth and contributed to growth in 46 states and the District of Columbia. This industry contributed 1.02 percentage point to real GDP growth in Hawaii.
  • Professional, scientific, and technical services grew 3.9 percent in the fourth quarter—the 11th consecutive quarter of growth for this industry. This industry contributed 0.28 percentage point to real GDP growth for the nation and contributed to growth in 48 states. This industry contributed 0.92 percentage point to real GDP growth in the District of Columbia.

For more information, read the full report.


Enter your email address to follow this blog and receive notifications of new posts by email.

Archives


%d bloggers like this: