Gross Domestic Product by Metropolitan Area and State
Author(s): Bureau of Economic Analysis (BEA)
The Bureau of Economic Analysis (BEA) regional economic accounts tell us about the geographic distribution of U.S. economic activity and growth.
The estimates of gross domestic product (GDP) by state and metropolitan area, plus state and local area personal income, with the accompanying detail, provide a consistent framework for analyzing and comparing individual state and local area economies.
Quarterly National GDP
Per the BEA's May 30, 2018 National Income and Product Accounts news release, real gross domestic product (GDP) increased at an annual rate of 2.2 percent in the first quarter of 2018, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2017, real GDP increased 2.9 percent nationally.
Profits from current production (corporate profits with inventory valuation adjustment and capital consumption adjustment) decreased $12.4 billion in the first quarter, compared with a decrease of $1.1 billion in the fourth quarter.
Annual Metropolitan Area GDP
Real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016, according to statistics on the geographic breakout of GDP released by the Bureau of Economic Analysis. Real GDP by metropolitan area growth ranged from 8.1 percent in Lake Charles, LA and Bend-Redmond, OR to -13.3 percent in Odessa, TX.
Annual State GDP
Real GDP grew in 47 states and the District of Columbia in 2017. The percent change in real GDP ranged from 4.4 percent in Washington to -0.2 percent in Louisiana.
Quarterly State GDP
Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the fourth quarter of 2017, according to statistics on the geographic breakout of GDP released by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the fourth quarter ranged from 5.2 percent in Texas to -1.3 percent in North Dakota.
National Income and Product Accounts (NIPA)
Components of the economy contributing to GDP include consumer spending, business investment, government spending and export-import balances. BEA has included data for 21 broadly-defined industries (versus the 81 industries included in the annual state GDP).
In its monthly publication, Survey of Current Business, BEA explained its prototype of data in a September 2013 article, "A First Look at Experimental Quarterly Gross Domestic Product by State," and its benchmark of NIPA in the April 2018 article, "Preview of the 2018 Comprehensive Update of the National Income and Product Accounts."
GDP news releases are made available on the BEA Regional Economic Accounts site.
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