Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2023

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2023, with the percent change ranging from 9.7 percent in Kansas to 0.7 percent in Arkansas.

In the third quarter of 2023, real GDP for the nation grew at an annual rate of 4.9 percent. Real GDP also increased in 15 of the 23 industry groups for which BEA prepares quarterly state estimates. 

• Agriculture, forestry, fishing, and hunting, which decreased nationally and in 33 states, was the leading contributor to growth in Kansas and Nebraska, the states with the largest and third-largest increases in real GDP. In contrast, this industry was the leading offset to growth in Arkansas and Mississippi, the states with the smallest increases in real GDP.

Current-dollar personal income increased in 49 states and the District of Columbia in the third quarter of 2023, with the percent change ranging from 5.2 percent in Texas to 0.0 percent in Arkansas.

• In the third quarter of 2023, current-dollar personal income increased $195.3 billion, or 3.5 percent at an annual rate. Increases in earnings and property income (dividends, interest, and rent) were partially offset by a decrease in transfer receipts
• Earnings increased in all 50 states and the District of Columbia, while growing 5.9 percent nationally. The percent change in earnings ranged from 8.3 percent in Texas to 1.3 percent in North Dakota
• Property income increased in all 50 states and the District of Columbia, while growing 1.5 percent nationally. The percent change ranged from 3.0 percent in Texas to 0.1 percent in Iowa.