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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Wednesday, May 1, 2019

BEA 19-19

Gross Domestic Product by State: Fourth Quarter and Annual 2018

Texas Had the Fastest Growth in the Fourth Quarter

Quarterly GDP by state in 2018:Q4

Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the fourth quarter of 2018, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the fourth quarter ranged from 6.6 percent in Texas to 0.0 percent in Delaware (table 1).

Wholesale trade, mining, and information services were the leading contributors to the increase in real GDP nationally (table 2). Mining and wholesale trade were the leading contributors to the increase in real GDP in Texas, the fastest growing state.

Other highlights

Wholesale trade increased 9.1 percent nationally and contributed to growth in all 50 states (GDP by Industry table 1).
Mining increased 38.0 percent nationally and contributed to growth in 49 states. In addition to Texas, this industry was the leading contributor to the increase in real GDP in Wyoming, Oklahoma, Alaska, and New Mexico–the second through fifth fastest growing states.
Information services increased 8.9 percent nationally and contributed to growth in every state and the District of Columbia.

Annual GDP by state in 2018

Real GDP increased in 49 states and the District of Columbia in 2018. The percent change in real GDP ranged from 5.7 percent in Washington to -0.3 percent in Alaska (table 4).

Information services; professional, scientific, and technical services; and durable goods manufacturing were the leading contributors to national economic growth in 2018. Information services and retail trade were the leading contributors to the increase in real GDP in Washington, the fastest growing state (table 5).

Other highlights

In addition to Washington, information services was the leading contributor to the increase in real GDP in four additional states, including California.
Professional, scientific, and technical services was the leading contributor to the increase in real GDP in Utah, the second fastest growing state.
Durable goods manufacturing was the leading contributor to the increase in real GDP in Idaho, the third fastest growing state.

Updates to Gross Domestic Product by State

Today, BEA also released revised quarterly estimates for 2015:Q1 to 2018:Q3 and annual statistics for 2015-2017. Updates are made each year about this time to incorporate new and revised state source data.

Next release: July 25, 2019 at 8:30 A.M. EDT
Gross Domestic Product by State, First Quarter 2019

Full Release & Tables (PDF)

Release Highlights (PDF)

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Interactive Tables

Todd Siebeneck

(301) 278-9705

gdpbystate@bea.gov

Catherine Wang

(301) 278-9670

gdpbystate@bea.gov

News Media

Jeannine Aversa

(301) 278-9003

Jeannine.Aversa@bea.gov

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Definitions

Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. GDP by state is the state counterpart of the Nation's GDP, the Bureau's featured and most comprehensive measure of U.S. economic activity.

Current-dollar statistics are valued in the prices of the period when the transactions occurred—that is, at "market value." Also referred to as "nominal GDP" or "current-price GDP."

Real values are inflation-adjusted statistics—that is, these exclude the effects of price changes.

Contributions to growth are an industry's contribution to the state's overall percent change in real GDP. The contributions are additive and can be summed to the state's overall percent change.

Statistical Conventions

Seasonal adjustment and annual rates. Quarterly values are expressed at seasonally-adjusted annual rates (SAAR). For details, see the FAQ "Why does BEA publish estimates at annual rates?"

Quantities and prices. Quantities, or "real" measures, are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). "Real" dollar series are calculated by multiplying the published quantity index by the current dollar value in the reference year (2012) and then dividing by 100. Percent changes calculated from chained-dollar levels and quantity indexes are conceptually the same; any differences are due to rounding.

Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year.

Chained-dollar values of GDP by state are derived by applying national chain-type price indexes to the current dollar values of GDP by state for the 21 NAICS-based industry sectors. The chain-type index formula that is used in the national accounts is then used to calculate the values of total real GDP by state and real GDP by state at more aggregated industry levels. Real GDP by state may reflect a substantial volume of output that is sold to other states and countries. To the extent that a state's output is produced and sold in national markets at relatively uniform prices (or sold locally at national prices), real GDP by state captures the differences across states that reflect the relative differences in the mix of goods and services that the states produce. However, real GDP by state does not capture geographic differences in the prices of goods and services that are produced and sold locally.

List of News Release Tables

Table 1. Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2017:Q1–2018:Q4

Table 2. Contributions to Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2018:Q3–2018:Q4

Table 3. Current-Dollar Gross Domestic Product (GDP) by State and Region, 2017:Q1–2018:Q4

Table 4. Percent Change in Real Gross Domestic Product (GDP) by State, 2015–2018

Table 5. Contributions to Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2017–2018