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Economy in Brief

State GDP
by Charles Steindel  November 7, 2019

BEA has released estimates of state GDP for the second quarter. Along with the new quarterly figures revised histories of state GDP were released, consistent with last summer's GDP revision.

The highlighted figures were real growth rates from Q1 to Q2. Quarterly GDP data by state are derived by allocating GDP industry figures across the states, using fairly limited information. The figures show that growth in the western half of the nation outstripped the East, with Texas's 4.7 percent rate of growth being the largest. Wyoming, Alaska, and New Mexico also had growth rates above 4 percent. In contrast, Mississippi and DC were the only places in the east with growth rates higher than 2 percent (Florida was right at 2.0). Not surprisingly, the strong western growth generally reflected the rebound in energy production, though the strong performance of Washington state was due to a surge in information (also not surprising). The weakest states in Q2 were at the northeastern and southwestern corners of nation (Hawaii was 50th, Maine 49th).

The growth pattern over the four quarters ending in Q2 was similar; Texas being the fastest-growing state accompanied by others in the West. Growth was particularly weak in much of the middle of the nation, with poor figures in numbers of agriculture- and manufacturing- intensive states.

In general, state GDP estimates for the past few years were revised up with, yet again, the upward revisions most evident for the West. In contrast, estimates for the Mideast were trimmed, with the 2018 figure for Delaware marked down a full 2 percent, but also substantive reductions for Pennsylvania, New Jersey, and New York (Rhode Island and Vermont were other states with downward revisions of some magnitude).

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