Southwest Led GDP Growth In 2019

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Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in 2019 compared to 2018, according to the U.S. Bureau of Economic Analysis (BEA). The percent change in real GDP ranged from 4.4 percent in Texas to 0.6 percent in Nebraska. Nationwide growth in GDP, measured on a seasonally adjusted annual rate basis, reached 2.3 percent in 2019, which is a six percentage points lower than the 2018 level of 2.9 percent.

Continuing a positive trend, annual GDP growth was positive in all the regions from 2018 to 2019, led by the Southwestern (4 percent) region. The Southwest region as defined by the BEA includes Arizona, New Mexico, Oklahoma, and Texas. During this time, the Great Lakes (1.3 percent) region recorded the lowest GDP growth.

The private goods and services producing sectors, as well as the government sector, contributed to the increase in Real GDP (2.3 percent) in 2019. Growth was widespread, with 20 of 22 industry groups contributing to the increase. Professional, scientific, and technical services; finance and insurance; and information were the industry groups that contributed to the increase in real GDP in 2019. Professional, scientific, and technical services contributed to growth in 48 states and the District of Columbia.

At the state level, Mining was the leading contributor to the increase in real GDP in Texas (4.4 percent), the fastest growing state. Information services industry was the leading contributor to growth in Washington (3.8 percent), the second fastest growing state. Professional, scientific, and technical services industry was the leading contributor to growth in Utah which tied for the second place with Washington.



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