Real gross domestic product (GDP)
increased in 48 states and the District of Columbia in the fourth
quarter of 2024, with the percent change ranging from 5.1 percent at an
annual rate in Arkansas to 0.6 percent in Vermont and remaining
unchanged in Idaho and South Dakota, according to statistics released
today by the U.S. Bureau of Economic Analysis (table 1). Current-dollar GDP increased in all 50 states and the District of Columbia. For the year 2024, real, or inflation-adjusted, GDP also increased in 48 states and the District of Columbia.
Personal income, in current dollars, increased in
all 50 states and the District of Columbia in the fourth quarter of
2024, with the percent change ranging from 6.1 percent at an annual rate
in Delaware to 2.4 percent in Louisiana (table 4). For the year 2024, current-dollar personal income also increased in all 50 states and the District of Columbia.
Quarterly GDP
In the fourth quarter of 2024, real GDP for the nation grew at an
annual rate of 2.4 percent. Real GDP increased in 15 of the 23 industry
groups for which BEA prepares quarterly state estimates. Real estate and
rental and leasing; professional, scientific, and technical services;
and health care and social assistance were the leading contributors to
growth in real GDP nationally (table 2).
- Agriculture, forestry, fishing, and hunting, which increased in
17 states, was the leading contributor to growth in six states including
Arkansas, Mississippi, and Alabama, the states with the first-,
second-, and fifth-largest increases in real GDP, respectively.
- Mining, which increased in 45 states, was the leading contributor
to growth in five states including Alaska, the state with the
third-largest increase in real GDP.
- Construction, which increased in 48 states and the District of
Columbia, was the leading contributor to growth in Utah, the
fourth-largest growing state.
Annual GDP
In 2024, real GDP for the nation grew at an annual rate of 2.8
percent, with the percent change ranging from 4.5 percent in Utah to
–0.7 percent in North Dakota (table 1). Real GDP increased in 19 of the
23 industry groups for which BEA prepares preliminary annual state
estimates. Retail trade; health care and social assistance; and
professional, scientific, and technical services were the leading
contributors to growth in real GDP nationally (table 3).
- Retail trade, which increased in all 50 states and the District
of Columbia, was the leading contributor to growth in 30 states. Retail
trade was one of the leading contributors in Utah, the state with the
largest increase in real GDP.
- Nondurable-goods manufacturing, which increased in 49 states, was
the leading contributor to growth in four states including South
Carolina, the state with the second-largest increase in real GDP.
- Agriculture, forestry, and fishing, which increased in 36 states,
was the leading contributor to growth in two states including Idaho, the
third-largest growing state.
Quarterly personal income
In the fourth quarter of 2024, current-dollar personal income
increased $281.8 billion, or 4.6 percent at an annual rate (table 5).
Nationally, increases in earnings, transfer receipts, and property
income (dividends, interest, and rent) contributed to the increase in
personal income (chart 1).
Earnings increased in all 50 states and the District
of Columbia, while growing 5.1 percent nationally. The percent change
in earnings ranged from 7.3 percent in Mississippi to 3.1 percent in
Idaho. Earnings increased in 23 of the 24 industries for which BEA
prepares quarterly estimates and was the largest contributor to growth
in personal income in all 50 states and the District of Columbia (tables
5 and 6).
- Farm earnings, which increased in 40 states, was the leading
contributor to the increase in Delaware, South Carolina, Georgia, and
Alabama, the states with the first-, second-, third-, and fifth-largest
growth in personal income, respectively.
- In Virginia, the state with the fourth-largest increase in personal
income, professional, scientific, and technical services was the
leading contributor to the increase in earnings.
- In Utah, the state with the sixth-largest increase in personal
income, construction and state and local government were the leading
contributors to the increase in earnings.
Transfer receipts increased in 47 states, while
growing 5.0 percent nationally. The percent change in transfer receipts
ranged from 9.4 percent in California to –2.4 percent in Louisiana
(table 5).
Property income increased in all 50 states and the
District of Columbia, while growing 2.9 percent nationally. The percent
change ranged from 4.0 percent in Idaho to 2.0 percent in Alaska (table
5).
Annual personal income
In 2024, personal income for the nation increased at an annual rate
of 5.4 percent, with the percent change ranging from 6.9 percent in
North Carolina to 0.1 percent in North Dakota (table 7).
Nationally, increases in earnings, transfer receipts, and property
income contributed to the increase in personal income (chart 2).
Earnings increased in 49 states and the District of
Columbia, while growing 5.5 percent nationally. The percent change in
earnings ranged from 7.0 percent in Hawaii to –2.0 percent in North
Dakota (table 7). Earnings increased in 21 of the 24 industries for
which BEA prepares annual estimates (table 8). Health care and social
assistance; state and local government; and professional, scientific,
and technical services were the leading contributors to the increase in
earnings for the nation.
- In South Carolina, the state with the second-largest increase in
personal income, growth in state and local government earnings was the
leading contributor to the increase in personal income.
Transfer receipts increased in 50 states and
the District of Columbia, while growing 6.3 percent nationally. The
percent change in transfer receipts ranged from 11.8 percent in North
Carolina to 1.7 percent in Arkansas (table 7).
- In North Carolina and California, the states with the first- and
third-largest increase in personal income, growth in Medicaid benefits
was the leading contributor to the increase in personal income.
Property income increased in all 50 states and
the District of Columbia, while growing 4.0 percent nationally. The
percent change ranged from 5.1 percent in Idaho to 3.3 percent in Hawaii
(table 7).
Update of state statistics
Today, BEA also released revised quarterly estimates of personal
income by state for the first quarter of 2024 through the third quarter
of 2024. This update incorporates new and revised source data that are
more complete and more detailed than previously available and aligns the
states with the national estimates from the National Income and Product
Accounts released on March 27, 2025.
BEA also released new estimates of per capita personal income for the
fourth quarter of 2024, along with revised estimates for the second
quarter of 2020 through the third quarter of 2024. BEA used U.S. Census
Bureau population figures to calculate per capita personal income
estimates for the second quarter of 2020 through the fourth quarter of
2024. BEA also used new Census Bureau population figures to update
annual 2020 to 2023 per capita personal income statistics and to produce
new per capita personal income statistics for 2024.
For definitions, statistical conventions, BEA regions, uses of these statistics, and more, visit “
Additional Information.”
Next release: June 27, 2025, at 10:00 a.m. EDT
Gross Domestic Product by State and Personal Income by State, 1st Quarter 2025
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