Gross Domestic Product by State, 2nd Quarter 2023 and Comprehensive Update
Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 8.7 percent in Wyoming to –1.9 percent in Vermont (table 1), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).
Current-dollar GDP increased in 46 states and the District of Columbia in the second quarter, with the percent change ranging from 8.3 percent in Kansas to –4.3 percent in North Dakota.
In the second quarter of 2023, while real GDP for the nation increased at an annual rate of 2.1 percent, real GDP increased in 14 of the 23 industry groups for which BEA prepares quarterly state estimates (table 2). Utilities; professional, scientific, and technical services; durable-goods manufacturing; and mining were the leading contributors to the increase in real GDP nationally.
- Utilities increased in all 50 states and the District of Columbia and was the leading contributor to growth in 22 states.
- Professional, scientific, and technical services increased in all 50 states and the District of Columbia and was the leading contributor to growth in 2 states.
- Durable-goods manufacturing increased in 48 states and was the leading contributor to growth in Michigan.
- Mining increased in 43 states and was the leading contributor to growth in 8 states, including Wyoming, the state with the largest increase in real GDP.
- Accommodation and food services decreased in 49 states and the District of Columbia and was the leading contributor to the decrease in Vermont, the state with the largest decline in real GDP.
- Agriculture, forestry, fishing, and hunting increased in 25 states and was the leading contributor to growth in 6 states, including Kansas and Nebraska, the states with the second- and third-largest increases in real GDP, respectively. The industry was also the leading contributor to the decrease in Mississippi, the state with second-largest decline in real GDP.
Today, BEA released the initial results of the 2023 comprehensive update of quarterly GDP by state. The estimates for the first quarter of 2018 through the first quarter of 2023 were revised. These updates incorporate new and revised source data that are more complete and more detailed than previously available as well as the results of the comprehensive updates of BEA’s National Economic Accounts, Industry Economic Accounts, annual GDP by state accounts, and state personal income accounts that were published earlier.
As part of this first-ever synchronization of the national, industry, and state comprehensive updates, updated annual state GDP estimates for 2017–2022 were released September 29 with state personal income. Release of the state quarterly GDP estimates was moved from September 29 to today as part of the scheduling for this historic comprehensive update.
GDP by state for the third quarter of 2023, along with state personal income, will be released on December 22.
Next release: December 22, 2023, at 10:00 a.m. EST
Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2023