Differences in production schedules and the timing of revisions to source data underlying the state and national statistics, as well as concepts, usually cause some differences between BEA’s estimates of national and state level GDP. Usually these differences are not significant, however, sometimes revisions to reported financial profits result in larger than normal differences between the various vintages of national and regional estimates for states with significant financial activities.
Advance statistics are based upon more limited source data and abbreviated estimating methodologies compared with standard regional statistics. The advance statistics for GDP by state will be revised to incorporate a fuller set of source data and a more complete estimating methodology, but profits are likely to continue to be subject to revision until final IRS profits data are made available.