Bureau of Economic Analysis

Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 8.7 percent in Wyoming to –1.9 percent in Vermont.

Today’s release presents estimates of gross domestic product (GDP) by industry and related measures for the second quarter of 2023, as well as revised quarterly estimates for the first quarter of 2018 through the first quarter of 2023 as part of the comprehensive update of the National Economic Accounts (NEAs).

Second Quarter 2023

In the second quarter, the value added of private goods-producing industries increased 7.7 percent, private services-producing industries increased 1.0 percent, and government increased 1.0 percent. Overall, 13 of 22 industry groups contributed to the 2.1 percent increase in second-quarter real GDP.

Personal income increased $57.1 billion (0.2 percent at a monthly rate) in October. Disposable personal income —personal income less personal current taxes—increased $63.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $43.8 billion (0.2 percent) and consumer spending increased $41.2 billion (0.2 percent). Personal saving was $…

Personal income increased $57.1 billion (0.2 percent at a monthly rate) in October. Disposable personal income (DPI)—personal income less personal current taxes—increased $63.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $43.8 billion (0.2 percent) and consumer spending increased $41.2 billion (0.2 percent). Personal…

Real gross domestic product (GDP) increased at an annual rate of 5.2 percent in the third quarter of 2023, according to the “second” estimate. In the second quarter, real GDP increased 2.1 percent. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

Real gross domestic product (GDP) increased at an annual rate of 5.2 percent in the third quarter of 2023, according to the “second” estimate. In the second quarter, real GDP increased 2.1 percent. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment. Imports, which are a subtraction in the calculation of GDP, increased. Profits increased 3.3 percent at a quarterly rate in the third…

The value added of the outdoor recreation economy accounted for 2.2 percent of current‐dollar gross domestic product for the nation in 2022. At the state level, value added for outdoor recreation as a share of state GDP ranged from 5.6 percent in Hawaii to 1.4 percent in Connecticut. The share was 0.9 percent in the District of Columbia.

The value added of the outdoor recreation economy accounted for 2.2 percent ($563.7 billion) of current‐dollar gross domestic product (GDP) for the nation in 2022. At the state level, value added for outdoor recreation as a share of state GDP ranged from 5.6 percent in Hawaii to 1.4 percent in Connecticut. The share was 0.9 percent in the District of Columbia.

Worldwide employment by U.S. multinational enterprises (MNEs) increased 1.1 percent to 43.3 million workers in 2021 from 42.9 million workers in 2020.