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Real Personal Income for States, 2016

The percent change in real state personal income ranged from 3.3 percent in Utah and Georgia to -3.6 percent in Wyoming. In the District of Columbia, real personal income grew 4.5 percent.

Personal Income

  • States with the fastest growth in real personal income were Utah (3.3 percent), Georgia (3.3 percent), and Washington (3.0 percent). The District of Columbia’s real personal income grew 4.5 percent.
  • Eight states had declining real personal income. The largest percent declines were in Wyoming (-3.6 percent), Oklahoma (-2.7 percent), and Louisiana (-1.9 percent).
  • States with the highest all items RPPs were Hawaii (118.4), New York (115.6), and California (114.4). The District of Columbia’s RPP was 115.9.
  • States with the lowest RPPs were Mississippi (86.4), Alabama (86.6), and Arkansas (86.9).
  • Across states, Hawaii had the highest rents RPP (157.4) and Alabama and West Virginia had the lowest (63.2).

For more information, read the full report.

Gross Domestic Product (GDP) by State: Fourth Quarter 2017

GDP by state graphic

• Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the fourth quarter of 2017. The percent change in real GDP ranged from 5.2 percent in Texas to –1.3 percent in North Dakota.

• Mining and construction were the leading contributors to the increase in real GDP in Texas, the fastest growing state. Agriculture, forestry, fishing, and hunting subtracted from growth in North Dakota and South Dakota—the only two states with decreases in fourth quarter real GDP.

• Durable goods manufacturing increased 7.2 percent nationally and contributed to growth in every state and the District of Columbia. This industry was the leading contributor to growth the increases in real GDP in five of the top ten fastest growing states.

For more information, read the full report.

March 2018 Trade Gap is $49.0 Billion

The U.S. monthly international trade deficit decreased in March 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $57.7 billion in February (revised) to $49.0 billion in March, as exports increased and imports decreased. The previously published February deficit was $57.6 billion. The goods deficit decreased $7.5 billion in March to $69.5 billion. The services surplus increased $1.3 billion in March to $20.5 billion.

trade-march-2018

Exports
Exports of goods and services increased $4.2 billion, or 2.0 percent, in March to $208.5 billion. Exports of goods increased $3.7 billion and exports of services increased $0.4 billion.

  • The increase in exports of goods mostly reflected increases in capital goods($1.9 billion), in foods, feeds, and beverages ($1.0 billion), and in industrial supplies and materials ($0.9 billion).
  • The increase in exports of services mostly reflected increases in maintenance and repair services ($0.1 billion), in travel (for all purposes including education) ($0.1 billion), and in transport ($0.1 billion).

Imports
Imports of goods and services decreased $4.6 billion, or 1.8 percent, in March to $257.5 billion. Imports of goods decreased $3.7 billion and imports of services decreased $0.9 billion.

  • The decrease in imports of goods mostly reflected decreases in capital goods ($1.5 billion), in consumer goods ($0.9 billion), and in industrial supplies and materials ($0.7 billion).
  • The decrease in imports of services mostly reflected decreases in charges for the use of intellectual property ($0.9 billion) and in transport ($0.1 billion). Charges for the use of intellectual property for February included payments for the rights to broadcast the 2018 Winter Olympic Games.

For more information, read the full report.


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