International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Sunday, August 4, 2019

Gross Domestic Product by State, First Quarter 2019

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter of 2019, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the first quarter ranged from 5.2 percent in West Virginia to 1.2 percent in Hawaii (table 1).

Chart: Percent Change in Real GDP by State, 2018:Q4-2019:Q1

Highlights

  • Finance and insurance, retail trade, and health care and social assistance were the leading contributors to the increase in real GDP nationally (table 2). These industries increased 9.5 percent, 11.9 percent, and 6.2 percent, respectively (GDP by Industry table 1), and contributed to growth in all 50 states and the District of Columbia.
  • Mining for the nation increased 26.5 percent, after increasing 38.0 percent in the fourth quarter. This industry was the leading contributor to growth in several states, including the three fastest growing states of West Virginia, Texas, and New Mexico.
  • The government sector decreased 1.1 percent nationally and slowed growth in most states, especially in the District of Columbia. The decrease was partly due to the partial federal government shutdown in January 2019.

https://lawprofessors.typepad.com/intfinlaw/2019/08/gross-domestic-product-by-state-first-quarter-2019.html

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