News Release

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Friday, May 4, 2018
BEA 18-22

Gross Domestic Product by State, 4th quarter 2017 and annual 2017 (preliminary)
Texas Had the Fastest Growth in the Fourth Quarter

Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the fourth quarter of 2017, according to statistics on the geographic breakout of GDP released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the fourth quarter ranged from 5.2 percent in Texas to -1.3 percent in North Dakota (table 1).

Map of US

Mining and construction were the leading contributors to the increase in real GDP in Texas, the fastest growing state (table 2). Agriculture, forestry, fishing, and hunting subtracted from growth in North Dakota and South Dakota–the only two states with decreases in fourth quarter real GDP.

Other highlights

  • Durable goods manufacturing increased 7.2 percent nationally and contributed to growth in every state and the District of Columbia. This industry was the leading contributor to the increases in real GDP in five of the ten fastest growing states.
  • Construction increased 8.4 percent nationally and contributed to growth in 49 states and the District of Columbia. In addition to Texas, this industry also made a notable contribution to the increase in real GDP in Florida.
  • Professional, scientific, and technical services increased 4.2 percent nationally and contributed to growth in every state and the District of Columbia.
  • Mining increased 10.0 percent nationally–the fifth consecutive quarter of growth. In addition to Texas, this industry made notable contributions to the increases in real GDP in Oklahoma and Alaska.
  • Agriculture, forestry, fishing, and hunting decreased 1.7 percent nationally–the fifth consecutive quarterly decline. This industry subtracted from growth in all the Plains states.

Annual GDP by state in 2017

Real GDP grew in 47 states and the District of Columbia in 2017. The percent change in real GDP ranged from 4.4 percent in Washington to -0.2 percent in Louisiana (table 4).

Map of US

Retail trade and information services were the leading contributors to the increase in real GDP in Washington, the fastest growing state (table 5).

Real estate and rental and leasing; health care and social assistance; and durable goods manufacturing were the leading contributors to national economic growth in 2017. At the state level:

  • Real estate and rental and leasing was the leading contributor to increases in real GDP in Colorado and Nevada.
  • Health care and social assistance was the leading contributor to the increase in real GDP in Arizona.
  • Durable goods manufacturing was the leading contributor to growth in Utah and California.

Updates to Gross Domestic Product by State

Today, BEA also released revised quarterly estimates for 2014:Q1 to 2017:Q3, and annual statistics for 2014–2016. Updates are made each year about this time to incorporate new and revised state source data.

 

Next release — July 24, 2018 at 8:30 A.M. EDT for: Gross Domestic Product by State: First Quarter 2018