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Economy in Brief

State GDP in 2022:Q1
by Charles Steindel  June 30, 2022

Almost all states saw their real GDP fall in 2022:Q1. The exceptions were New Hampshire, Vermont, Massachusetts, and Michigan (New Hampshire was first with a modest 1.2 percent growth rate.) .

The GDP declines were generally most notable in energy and mining-intensive states, with Wyoming’s output plunging at a 9.7% annual rate, Alaska down 8.2%, North Dakota ,6.3%, West Virginia, 6.1%, New Mexico, 4.7%, Louisiana, 4.3%, Montana, 3.8%, and Oklahoma, 3.7%. Wisconsin, Maryland, and Connecticut had rates of decline very near zero. Elsewhere, only the declines in Hawaii (-3.5%) and Washington (-3.3%) look notably out of like with the nation’s 1.6% rate of decline.

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