Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2022

Real gross home merchandise (GDP) decreased successful 40 states and nan District of Columbia successful nan 2nd 4th of 2022, pinch nan percent alteration successful existent GDP ranging from 1.8 percent successful Texas to –4.8 percent successful Wyoming (table 1), according to statistic released coming by nan U.S. Bureau of Economic Analysis (BEA).

Current-dollar GDP accrued successful each 50 states and nan District of Columbia successful nan 2nd quarter, pinch nan percent alteration ranging from 30.5 percent successful North Dakota to 0.7 percent successful Connecticut.

Personal income accrued successful each 50 states and nan District of Columbia successful nan 2nd quarter, pinch nan percent alteration ranging from 10.9 percent successful North Dakota to 2.2 percent successful Connecticut (table 3).

GDP

In nan 2nd 4th of 2022, arsenic existent GDP for nan federation decreased astatine an yearly complaint of 0.6 percent, existent GDP decreased successful 8 of nan 23 manufacture groups for which BEA prepares quarterly authorities estimates (table 2). Construction; nondurable-goods manufacturing; and wholesale waste and acquisition were nan starring contributors to nan alteration successful existent GDP nationally.

• The building manufacture was nan starring contributor to nan alteration successful Wyoming, nan authorities pinch nan largest alteration astatine 4.8 percent, and successful 10 different states.
• The finance and security manufacture was nan starring contributor to nan alteration successful Connecticut, nan authorities pinch nan second-largest alteration astatine 4.7 percent, and successful 1 different state.
• The durable-goods manufacturing manufacture was nan starring contributor to nan alteration successful Indiana, nan authorities pinch nan third-largest alteration astatine 3.3 percent, and successful 2 different states.
• The mining manufacture was nan starring contributor to nan 1.8 percent summation successful Texas, nan authorities pinch nan largest summation successful existent GDP.

Personal income

In nan 2nd 4th of 2022, state individual income accrued astatine an yearly complaint of 5.8 percent crossed each 50 states and nan District of Columbia. Increases successful net and spot income (dividends, interest, and rent) contributed to individual income maturation successful each states and nan District of Columbia, while transportation receipts accrued successful 35 states (table 4).

Earnings accrued successful each states and nan District of Columbia, expanding 6.3 percent nationally successful nan 2nd 4th (table 4). The percent alteration successful net ranged from 14.1 percent successful North Dakota to 2.1 percent successful Connecticut.

Earnings accrued successful 19 of nan 24 industries for which BEA prepares quarterly estimates (table 6). Professional, scientific, and method services; wellness attraction and societal assistance; and farms were nan starring contributors to nan wide maturation successful earnings.

• In North Dakota and South Dakota, nan states pinch nan largest and second-largest increases successful individual income, increases successful net successful farms was nan starring contributor to nan summation successful individual income successful nan 2nd 4th (table 5).
• In Texas, nan authorities pinch nan third-largest summation successful individual income, nan summation successful net successful mining was nan starring contributor.

Property income accrued successful each states and nan District of Columbia, expanding 8.7 percent nationally. The percent alteration ranged from 12.9 percent successful Idaho to 4.8 percent successful Kansas (table 4).

Transfer receipts accrued successful 35 states, expanding 1.5 percent nationally. The percent alteration successful transportation receipts ranged from 10.4 percent successful New York to –4.1 percent successful Massachusetts.

Annual Update of State Statistics

The estimates for nan 2nd 4th of 2022 incorporated nan results of BEA's yearly updates of GDP by authorities and individual income by authorities that were besides released today. The yearly estimates of GDP by authorities and individual income by authorities for 2017 to 2021 and quarterly estimates of GDP by authorities and individual income by authorities for nan first 4th of 2017 done nan first 4th of 2022 were revised. The updates incorporated caller and revised root information that are much complete and much elaborate than antecedently available, updates to seasonal factors, and nan results of nan September 2022 yearly updates of nan National Income and Product Accounts and GDP by manufacture statistics. Our online journal, nan Survey of Current Business, will incorporate an article successful November describing nan results.

BEA besides released caller estimates of per capita individual income for nan 2nd 4th of 2022, on pinch revised estimates for nan first 4th of 2017 done nan first 4th of 2022 and yearly estimates for 2017 done 2021. BEA utilized U.S. Census Bureau (Census) organization figures to cipher per capita individual income estimates for nan 2nd 4th of 2020 done nan 2nd 4th of 2022 and for yearly 2020 and 2021 per capita individual income estimates. For earlier estimates, BEA continues to usage intercensal organization statistic that it developed based connected Census' methodology. See Note connected Per Capita Personal Income and Population.

Next release: December 23, 2022, 10:00 a.m. EST
Gross Domestic Product and Personal Income by State, 3rd Quarter 2022