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EMBARGOED UNTIL RELEASE AT 10:00 a.m., Thursday, June 30, 2022

BEA 22–30

Gross Domestic Product by State, 1st Quarter 2022

Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022, as real GDP for the nation decreased at an annual rate of 1.6 percent, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). The percent change in real GDP in the first quarter ranged from 1.2 percent in New Hampshire to –9.7 percent in Wyoming (table 1).

Real GDP: Percent Change at Annual Rate, 2021:Q4-2022:Q1

Coronavirus (COVID–19) Impact on First-Quarter 2022 GDP by State

In the first quarter, an increase in COVID–19 cases related to the Omicron variant resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off. The full economic effects of the COVID–19 pandemic cannot be quantified in the GDP by state estimates for the first quarter, because the impacts are generally embedded in source data and cannot be separately identified. For more information, see “Federal Recovery Programs and BEA Statistics.”

Real GDP decreased in 8 of the 21 industry groups for which BEA prepares quarterly state estimates. Nondurable goods manufacturing, retail trade, and finance and insurance decreased 17.0, 10.2, and 7.1 percent, respectively, for the nation and were the leading contributors to the decrease in real GDP (GDP release table 12). These three industries contributed decreases in all 50 states and the District of Columbia (table 2).

Other highlights

Mining, quarrying, and oil and gas extraction contributed decreases in 49 states. This industry was the leading contributor to the decreases in 10 states, including Wyoming, Alaska, North Dakota, West Virginia, and New Mexico—the 5 states with the largest decreases in real GDP.
Government and government enterprises was the leading contributor to the increases in New Hampshire and Massachusetts—the states with the largest and third-largest increases in real GDP, respectively.
Agriculture, forestry, fishing, and hunting was the leading contributor to the increase in Vermont—the state with the second-largest increase.
Utilities was the leading contributor to the increase in Michigan—the only other state with an increase.

Updates to GDP by State

Revised annual GDP by state estimates for 2017 to 2021 will be released on September 30, 2022. In addition, revised estimates for the first quarter of 2017 through the first quarter of 2022 and preliminary estimates for the second quarter of 2022 will also be released. In November 2022, the Survey of Current Business will publish an article describing the results.

Starting on September 30, 2022, BEA will begin to regularly publish quarterly statistics for state GDP and state personal income together in a single news release, providing a fuller picture of the economies of all states and the District of Columbia. The combined news release will replace the publication of two separate releases issued on different days.

Next release: September 30, 2022, at 10:00 a.m.
Gross Domestic Product and Personal Income by State, 2nd Quarter 2022 and Annual Update 2021

Full Release & Tables (PDF)

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Interactive Tables

Technical

Todd Siebeneck

(301) 278-9705

GDPbyState@bea.gov

Catherine Wang

(301) 278-9670

GDPbyState@bea.gov

Media (BEA)

Connie O'Connell

301-278-9003

Connie.OConnell@bea.gov

Resources

Information on COVID-19 and recovery impacts is available on our website.
Stay informed about BEA developments by reading The BEA Wire, signing up for BEA's email subscription service, or following BEA on Twitter @BEA_News.
Historical time series for these estimates can be accessed in BEA's Interactive Data Application.
Access BEA data by registering for BEA's Data Application Programming Interface.
For more on BEA's statistics, see our monthly online journal, the Survey of Current Business.
For upcoming economic indicators, see BEA's news release schedule.
BEA Regional Facts (BEARFACTS) is a narrative summary of personal income, per capita personal income, components of income, and gross domestic product for counties, metropolitan statistical areas, and states.
For complete information on the sources and methods used to estimate BEA's state gross domestic product statistics, see our guide.

Definitions

Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. GDP by state is the state counterpart of the nation's gross domestic product, the Bureau's featured and most comprehensive measure of U.S. economic activity.

Current-dollar statistics are valued in the prices of the period when the transactions occurred—that is, at "market value." Also referred to as "nominal GDP" or "current-price GDP."

Real values are inflation-adjusted statistics—that is, these exclude the effects of price changes.

Contributions to growth are an industry's contribution to the state's overall percent change in real GDP. The contributions are additive and can be summed to the state's overall percent change.

Statistical conventions

Seasonal adjustment and annual rates. Quarterly values are expressed at seasonally adjusted annual rates. For details, see the FAQ “Why does BEA publish estimates at annual rates?” on the BEA website.

Quantities and prices. Quantities, or “real” measures, are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). “Real” dollar series are calculated by multiplying the quantity index by the current dollar value in the reference year and then dividing by 100. Percent changes calculated from chained-dollar levels and quantity indexes are conceptually the same; any differences are due to rounding.

Chained-dollar values are not additive, because the relative weights for a given period differ from those of the reference year.

Chained-dollar values of GDP by state are derived by applying national chain-type price indexes to the current dollar values of GDP by state for the 21 North American Industry Classification System-based industry sectors. The chain-type index formula that is used in the national accounts is then used to calculate the values of total real GDP by state and real GDP by state at more aggregated industry levels. Real GDP by state may reflect a substantial volume of output that is sold to other states and countries. To the extent that a state's output is produced and sold in national markets at relatively uniform prices (or sold locally at national prices), real GDP by state captures the differences across states that reflect the relative differences in the mix of goods and services that the states produce. However, real GDP by state does not capture geographic differences in the prices of goods and services that are produced and sold locally.

BEA regions

BEA groups all 50 states and the District of Columbia into 8 distinct regions for purposes of presentation and analysis as follows:

New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont)
Mideast (Delaware, District of Columbia, Maryland, New Jersey, New York, and Pennsylvania)
Great Lakes (Illinois, Indiana, Michigan, Ohio, and Wisconsin)
Plains (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota)
Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia)
Southwest (Arizona, New Mexico, Oklahoma, and Texas)
Rocky Mountain (Colorado, Idaho, Montana, Utah, and Wyoming)
Far West (Alaska, California, Hawaii, Nevada, Oregon, and Washington)

Uses of GDP by state statistics

GDP by state statistics provide a framework for analyzing current economic conditions in each state and can serve as a basis for decisionmaking. For example:

Federal government agencies use the statistics in forecasting models to project energy and water use.
State governments use the statistics to project tax revenues and the need for public services.
Academic regional economists use the statistics for applied research.
Businesses, trade associations, and labor organizations use the statistics for market research.

News Release Tables

Table 1. Percent Change from Preceding Period in Real Gross Domestic Product, by State and Region, 2021:Q1–2022:Q1

Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2021:Q4–2022:Q1

Table 3. Current-Dollar Gross Domestic Product, by State and Region, 2021:Q1–2022:Q1