December 23, 2022
Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the third quarter of 2022, with the percent change in real GDP ranging from 8.7 percent in Alaska to –0.7 percent in Mississippi.
In the third quarter of 2022, as real GDP for the nation increased at an annual rate of 3.2 percent, real GDP increased in 16 of the 23 industry groups for which BEA prepares quarterly state estimates.
- Information services; professional, scientific, and technical services; and mining were the leading contributors to the increase in real GDP nationally.
- The mining industry was the leading contributor to the increases in real GDP in Alaska, Texas, Oklahoma, Wyoming, North Dakota, and New Mexico, the six states with the largest increases in real GDP, and in West Virginia, the state with the eighth-largest increase in real GDP.
Personal income increased in all 50 states and the District of Columbia in the third quarter, with the percent change ranging from 14.2 percent in Colorado to 1.4 percent in Kentucky.
In the third quarter of 2022, state personal income increased at an annual rate of 5.3 percent across all 50 states and the District of Columbia. Nationally, increases in earnings, property income (dividends, interest, and rent), and transfer receipts all contributed to the increase in personal income.
- Transfer receipts was the leading contributor to increases in personal income in Colorado, Maine, New Mexico, and Idaho, the states with the largest increases in personal income. Temporary state refundable tax credits in these states and other states resulted in above-average increases in transfer receipts in the third quarter.
- In Florida, the state with the fifth-largest increase in personal income, the increase in earnings in health care and social assistance was the leading contributor to the increase in personal income in the third quarter.
For more information, read the full release.