Posts Tagged 'GDP by state'

Gross Domestic Product by State: First Quarter 2016

Real gross domestic product (GDP) increased in 37 states and the District of Columbia in the first quarter of 2016, 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 3.9 percent in Arkansas   to –11.4 percent in North Dakota.  Construction; health care and social assistance; and retail trade were the leading contributors to U.S. economic growth in the first quarter.

GDP by State July 27

  • Construction grew 9.0 percent in the first quarter of 2016—the eighth consecutive quarter of growth for this industry.  This industry contributed to growth in 47 states and the District of Columbia and 1.1 percentage points to the 1.7 percent growth in real GDP in Hawaii.
  • Health care and social assistance grew 3.8 percent in the first quarter.  This industry contributed to growth in every state and the District of Columbia.
  • Retail trade grew 4.8 percent in the first quarter.  This industry contributed to growth in 47 states and the District of Columbia and 0.59 percentage point to the 3.9 percent growth in Washington.

For more information, read the full report.

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.

Broad Growth Across States in 2014

gsp0615_fax

  • Real GDP increased in 48 states and the District of Columbia in 2014. Leading industry contributors were professional, scientific, and technical services; nondurable goods manufacturing; and real estate and rental and leasing.
  • Professional, scientific, and technical services was the largest contributor to U.S. real GDP by state growth in 2014. This industry contributed to real GDP growth in 46 states and the District of Columbia. It was a large contributor to growth in three states – California, Massachusetts, and Utah.
  • Nondurable goods manufacturing was the leading contributor to growth in the Great Lakes region and made a substantial contribution to growth in Louisiana and Montana.
  • Real estate and rental and leasing contributed to real GDP growth in 32 states and the District of Columbia.
  • Mining was the leading contributor to growth in the five fastest growing states – North Dakota, Texas, West Virginia, Wyoming, and Colorado.
  • In contrast, agriculture, forestry, fishing, and hunting subtracted from real GDP growth in six of eight BEA regions and 39 states in 2014.
  • Real GDP decreased in Alaska and Mississippi in 2014. Alaska’s decrease was primarily due to a decline in mining while the decrease in Mississippi was mainly due to a decline in construction.
  • Per capita real GDP ranged from a high of $66,160 in Alaska to a low of $31,551 in Mississippi. Per capita real GDP for the U.S. was $49,649.

For more information, read the full report.


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