Gross Domestic Product by State, 2nd quarter 2018
Texas Had the Fastest Growth in the Second Quarter
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2018, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the second quarter ranged from 6.0 percent in Texas to 2.5 percent in Delaware (table 1).
Information services; real estate and rental and leasing; professional, scientific, and technical services; and durable goods manufacturing were the leading contributors to the increase in real GDP nationally (table 2). Texas, the fastest growing state, was led by growth in mining and durable goods manufacturing.
- Nationally, information services; real estate and rental and leasing; and professional, scientific, and technical services increased 13.4 percent, 5.3 percent, and 9.3 percent, respectively (GDP by Industry table 1). All three industries contributed to growth in every state and the District of Columbia.
- Durable goods manufacturing increased 7.3 percent. This industry was the leading contributor to growth in Michigan and Missouri–the second and third fastest growing states.
- Mining increased 11.7 percent. In addition to Texas, this industry was the leading contributor to the increases in Alaska, North Dakota, and Oklahoma.
- Agriculture, forestry, fishing, and hunting increased 8.5 percent rebounding from a decline in the first quarter. This industry was the leading contributor to the increases in South Dakota, Montana, and Minnesota.
Comprehensive Update of GDP by State
The estimates of 2018:Q2 GDP by state incorporate the results of BEA's comprehensive update of GDP by state also released today. The update revised North American Industry Classification System (NAICS) estimates of GDP by state for 1997 to 2017 and quarterly NAICS estimates for 2005:Q1 to 2018:Q1. The update incorporates source data that are more complete and detailed than previously available, and the results of the 2018 comprehensive updates of the National Income and Product Accounts, Industry Economic Accounts, and State Personal Income Accounts. In addition, the update includes industry definitions consistent with the 2012 NAICS.
Next release: January 29, 2019 at 8:30 A.M. EST — Gross Domestic Product by State, Third Quarter 2018