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EMBARGOED UNTIL RELEASE AT 10:00 A.M. EST, Wednesday, December 23, 2020

BEA 20—69

Gross Domestic Product by State, 3rd Quarter 2020

Increases in All States and the District of Columbia in the Third Quarter

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2020, as real GDP for the nation increased at an annual rate of 33.4 percent, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the third quarter ranged from 52.2 percent in Nevada to 19.2 percent in the District of Columbia (table 1).

Chart: Percent Change in Real GDP by State

Healthcare and social assistance; durable goods manufacturing; and accommodation and food services were the leading contributors to the increase in real GDP nationally (table 2). Accommodation and food services was the leading contributor to the increase in Nevada.

COVID-19 Impact on the Third-Quarter 2020 GDP by State Estimates

The increase in third quarter GDP reflected continued efforts to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the third quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified.

Other highlights

Healthcare and social assistance increased 75.1 percent nationally and contributed to the increases in all 50 states and the District of Columbia. This industry was the leading contributor to the increases in 26 states, including Tennessee and Idaho, the states with the second and fourth largest increases.
Durable goods manufacturing increased 80.3 percent nationally and contributed to the increases in all 50 states and the District of Columbia. This industry was the leading contributor to the increases in 16 states, including Michigan, the state with the third largest increase.
Accommodation and food services increased 344.5 percent nationally and contributed to the increases in all 50 states and the District of Columbia. This industry was the leading contributor to the increases in five states.
Mining, quarrying, and oil and gas decreased 14.4 percent nationally. This industry moderated increases in real GDP in 49 states. This industry was the leading offset to the increase in Wyoming, the state with the smallest increase in real GDP.

Next release: March 26, 2021 at 10:00 A.M. EDT
Gross Domestic Product by State, 4th Quarter and Year 2020 (Preliminary)

Gross Domestic Product by State Release Dates in 2021

Release	Date
4^th Quarter and Year 2020 (Preliminary)	March 26
1^st Quarter 2021	June 25
2^nd Quarter 2021 and annual update, 2020	October 1
3^rd Quarter 2021	December 23

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Technical

Todd Siebeneck

(301) 278-9705

GDPbyState@bea.gov

Catherine Wang

(301) 278-9670

GDPbyState@bea.gov

Media (BEA)

Connie O'Connell

301-278-9003

Connie.OConnell@bea.gov

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BEA Regional Facts (BEARFACTS): a narrative summary of personal income, per capita personal income, components of income, and gross domestic product for counties, metropolitan statistical areas, and states.

Definitions

Gross domestic product 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 gross domestic product, 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 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 North American Industry Classification System -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 from Preceding Period in Real Gross Domestic Product (GDP) by State and Region, 2019:Q1–2020:Q3

Table 2. Contributions to Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2020:Q2–2020:Q3

Table 3. Current-Dollar Gross Domestic Product (GDP) by State and Region, 2019:Q1–2020:Q3