The U.S. GDP, the total value of the goods and services produced, grew by a 10-year annual average of 1.9% between 2008 and 2018.

So, while people may be taking home big paychecks, the goods and services they produce often count towards other states’ GDP, according to Ortiz. Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. Information services increased 6.8 percent nationally. However, real GDP by state does not capture geographic differences in the prices of goods and services that are produced and sold locally. North Dakota was the only state with a decrease in first quarter real GDP. In July, the U.S. economic expansion, which began in the wake of the 2008-09 financial crisis, reached 121 months. US state by state GDP expanded in 48 states and the District of Columbia in 2014. GDP CONTRIBUTION BY STATE.
For details, see the FAQ "Why does BEA publish estimates at annual rates?". The percent change in real GDP in the first quarter ranged from 3.6 percent in Washington to -0.6 percent in North Dakota (table 1). That marks the economy’s longest period of uninterrupted growth ever, beating its previous record of 120 months from 1991 to 2001. That is, it includes the wages and salaries that workers earn, the income earned by individual or joint entrepreneurs as well as by corporations, and business taxes such as sales, property, and Federal excise taxes—that count as a business expense. Rankings. While the vast majority of state economies have expanded in the past ten years, four states’— Connecticut, Wyoming, Louisiana and Mississippi — economies shrunk. Durable goods manufacturing increased 3.2 percent nationally–the eighth consecutive quarter of growth. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Tuesday, July 24, 2018, Washington Had the Fastest Growth in the First Quarter, 4600 Silver Hill Road • Suitland, MD 20746. Mining increased 5.5 percent nationally–the sixth consecutive quarter of growth. For more information, read. It’s important to note that many people from Connecticut commute to other states like New York and New Jersey for work, says Mauricio Ortiz, chief of the regional income division at the Bureau of Economic Analysis. Selangor recorded the highest contribution of 23.7 per cent followed by W.P. Not Seasonally Adjusted, Total Gross Domestic Product for Connecticut, Real Total Gross Domestic Product for Texas, Total Gross Domestic Product by Industry for Texas, Total Gross Domestic Product for Virginia, Total Gross Domestic Product for Oklahoma, Total Gross Domestic Product for Maryland, Total Gross Domestic Product for Arkansas, Real Total Gross Domestic Product for New York, Total Gross Domestic Product for South Dakota. shutterstock. In addition to Washington, this industry was the leading contributor to the increase in real GDP in Colorado and contributed to growth in every other state and the District of Columbia.

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