FOR WIRE TRANSMISSION: 9:00 A.M. EDT, TUESDAY, JUNE 3, 1997 Contact: Gross State Product Staff: (202) 606-5340 BEA 97-15 GROSS STATE PRODUCT: NEW ESTIMATES FOR 1993-94 and REVISED ESTIMATES FOR 1977-92 The six western states of Nevada, Idaho, New Mexico, Utah, Oregon, and Washington led the nation in growth in real gross state product (GSP) from 1987 to 1994, according to a comprehensive revision of GSP estimates released by the Commerce Department's Bureau of Economic Analysis. In these states, the fast growth in GSP reflected strength in construction and in wholesale trade. Fastest growing states, 1987-94 From 1987 to 1994, increases in real GSP in Nevada, Idaho, New Mexico, Utah, Oregon, and Washington ranged from 7.0 percent per year to 3.9 percent per year, well above the 2.3-percent per year increase for the United States (see table 4). The fastest growing industries in these states were construction and wholesale trade, and in most of these states, increases in agriculture, forestry, and fishing, in manufacturing, in mining, and in retail trade also were above average. In addition, other rapidly growing industries in these states include finance, insurance, and real estate in Nevada, transportation and public utilities in Idaho, services in Utah, and services, transportation and public utilities, and finance, insurance, and real estate in Washington. ---------- Average annual rate of change, 1987-94, based on chain-type quantity indexes (1992=100) ----------- Private goods-producing industries Private services-producing industries Total ----------------------------------- ------------------------------------------------ gross Agri- Transpor- Finance, state culture, Manu- Con- tation & Whole- insurance, Govern- product forestry, factu- struc- Mi- public sale Retail & real Ser- ment & fishing ring tion ning utilities trade trade estate vices --------------------------------------------------------------------------------------------------- United States .... 2.3 4.1 1.6 0.8 1.6 3.6 4.9 2.3 2.3 2.6 1.3 Nevada ........... 7.0 6.5 8.5 11.0 9.2 5.2 10.4 6.7 8.2 6.1 4.3 Idaho ............ 5.2 4.6 6.6 11.9 .7 6.3 8.0 5.5 3.4 3.6 2.8 New Mexico ....... 4.6 6.0 17.6 5.2 3.4 3.7 6.3 4.1 2.9 3.5 1.4 Utah ............. 4.2 5.0 4.8 7.7 5.8 4.2 6.3 6.0 3.1 4.4 1.4 Oregon ........... 3.9 4.7 2.7 9.4 6.0 3.1 7.2 4.9 3.8 3.9 2.5 Washington ....... 3.9 4.4 .4 6.9 6.2 5.4 6.3 5.0 4.0 5.6 2.1 ---------------------------------------------------------------------------------------------------------------------------------- Slowest growing states, 1987-94 From 1987 to 1994, Alaska, Rhode Island, Maine, Louisiana, and Massachusetts were the states with the slowest growth in real GSP; changes in real GSP in these states ranged from a decline of 1.0 percent per year to an increase of 0.9 percent per year. In most of these states, GSP declined in agriculture, forestry, and fishing, in manufacturing, in construction, and in mining, and GSP in government increased less than GSP for the state. In addition, GSP declined in Louisiana in finance, insurance, and real estate and in Massachusetts in retail trade, and GSP in Rhode Island in retail trade increased less than GSP for the state. ---------- Average annual rate of change, 1987-94, based on chain-type quantity indexes (1992=100) ----------- Private goods-producing industries Private services-producing industries Total ----------------------------------- ------------------------------------------------ gross Agri- Transpor- Finance, state culture, Manu- Con- tation & Whole- insurance, Govern- product forestry, factu- struc- Mi- public sale Retail & real Ser- ment & fishing ring tion ning utilities trade trade estate vices --------------------------------------------------------------------------------------------------- United States .... 2.3 4.1 1.6 0.8 1.6 3.6 4.9 2.3 2.3 2.6 1.3 Alaska ........... -1.0 -2.7 .4 2.5 -6.8 .7 4.9 3.4 1.8 2.1 .3 Rhode Island ..... .8 -1.9 -.8 -2.2 3.9 4.8 1.7 .2 1.6 1.6 .2 Maine ............ .9 -1.8 -.2 -3.9 15.1 1.3 3.0 2.3 1.9 2.0 .2 Louisiana ........ .9 3.0 .9 3.9 -2.4 2.4 4.2 1.4 -.6 2.0 1.0 Massachusetts .... .9 -.6 -1.0 -4.3 -.3 3.6 3.5 -.3 1.9 2.0 .2 ---------------------------------------------------------------------------------------------------------------------------------- Industry shares of current-dollar GSP by region, 1987-94 From 1987 to 1994, the share of the nation's current-dollar GSP accounted for by private services-producing industries increased 3.2 percentage points, from 59.6 percent to 62.8 percent (see table 2). The share accounted for by private goods-producing industries declined 3.1 percentage points, from 27.6 percent to 24.5 percent. The share accounted for by government declined 0.1 percentage point, from 12.8 percent to 12.7 percent. By region, the changes in shares for these three broad industry groups largely mirrored the changes in shares for these industry groups at the national level. In the New England, Far West, Southeast, and Mideast regions, increases in the shares of total GSP accounted for by the private services-producing industries were more than the U.S. average of 3.2 percentage points; increases ranged from 6.4 percentage points in New England to 3.6 percentage points in the Mideast. In all four regions, the shares increased the most in services and, except in the Southeast, in finance, insurance, and real estate. All four regions had large declines in the shares of total GSP accounted for by the private goods-producing industries; the shares declined the most in manufacturing and, except in the Southeast, in construction. In the Rocky Mountain, Plains, Southwest, and Great Lakes regions, increases in the shares of total GSP accounted for by the private services-producing industries were less than the U.S. average; increases ranged from 2.5 percentage points in the Rocky Mountain region to 2.0 percentage points in the Great Lakes region. In all four regions, the shares increased the most in services. All four regions had declines in the shares of total GSP accounted for by the private goods-producing industries; the shares declined the most in mining in the Southwest and Rocky Mountain regions and in manufacturing in the Great Lakes and Plains regions. State shares of U.S. current-dollar GSP in 1994 The following map shows each state's share of U.S. current-dollar GSP in 1994. The five states with the largest shares of the U.S. total were: California (12.8 percent), New York (8.4 percent), Texas (7.0 percent), Illinois (4.9 percent), and Florida (4.7 percent). The seven states with the smallest shares of the U.S. total were Montana (0.2 percent), North Dakota (0.2 percent), Vermont (0.2 percent), Wyoming (0.2 percent), Alaska (0.3 percent), Rhode Island (0.3 percent), and South Dakota (0.3 percent). The Relation of GSP to GDP GSP is the value added in production by the labor and property located in a state. GSP for a state is derived as the sum of the GSP originating in all industries in the state. In concept, an industry's GSP, referred to as its "value added," is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). Thus, GSP is often considered the state counterpart of the nation's gross domestic product (GDP). In practice, GSP estimates are measured as the sum of the distributions by industry and state of the components of gross domestic income -- that is, the sum of the costs incurred (such as compensation of employees, net interest, and indirect business taxes) and the profits earned in production. The difference between GDP and gross domestic income is the statistical discrepancy. Total GSP for the nation, which is derived as the sum of the state estimates, differs from GDP because GSP excludes the statistical discrepancy, the compensation of federal civilian and military personnel stationed abroad, and government consumption of fixed capital for military structures located abroad and for military equipment, except office equipment. For the GSP estimates, private goods-producing industries are defined to consist of agriculture, forestry, and fishing; mining; construction; and manufacturing. Private services-producing industries are defined to consist of transportation and public utilities; wholesale trade; retail trade; finance, insurance, and real estate; and "services." Note on the Comprehensive Revision of the GSP Estimates The GSP estimates for 1977-94 update and extend the estimates that were published in the August 1994 and May 1995 issues of the Survey of Current Business, the monthly journal of the Bureau of Economic Analysis (BEA). The new GSP estimates for 1993 and 1994 and the revised estimates for 1977-92 are consistent with the improved estimates of U.S. gross product by industry that were released in August 1996. In addition, the new and revised GSP estimates incorporate the results of the most recent comprehensive revisions of the national income and product accounts and of the state personal income accounts. The following major improvements have been incorporated into these new and revised GSP estimates: Chain-type measures of real GSP (see the explanatory note at the end of this release), which reduce the substitution bias that is inherent in the previously used fixed-weighted measures; a new treatment of government investment, which provides a more complete picture of investment through the consistent treatment of investment in both the public and private sectors; additional state source data on sales, on sales taxes, and on gross receipts taxes, which result in better allocations of national commodity taxes by industry; and state data on receipts and payrolls for industries newly covered in the 1992 economic censuses. These improvements are another step in BEA's continuing effort, in accordance with its strategic plan, for improving the accuracy, reliability, and relevance of the national, regional, and international accounts. A further discussion of the GSP estimates appears in the forthcoming June 1997 Survey. Availability of Detailed Estimates of GSP Detailed estimates of GSP in current dollars for 1977-94 and in chained (1992) dollars for 1982-94 for 63 industries for states, BEA regions, and the United States are available online from the Commerce Department's STAT-USA on the Economic Bulletin Board (EBB) and the Internet. For subscription information, call (202) 482-1986 or see http://www.stat-usa.gov. Detailed estimates of GSP and its three components in current dollars for 1977-94 and of real GSP -- in chained (1992) dollars for 1982-94, in fixed-weighted (1992) dollars for 1977-94, and as chain-type quantity indexes for 1977-94 -- for 63 industries for states, BEA regions, and the United States are also available from BEA on diskettes. The diskettes include a Windows program so that selected records from the data files can be imported into computer spreadsheets. Orders should specify BEA accession no. 61-97-40-424 (two diskettes, $40). Send your orders, along with a check or money order payable to "Bureau of Economic Analysis," to Public Information Office, Order Desk, BE-53, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. To order using Visa or MasterCard, call (202) 606-3700. The detailed GSP estimates will also be available on the Regional Economic Information System (REIS) CD-ROM that is scheduled to be released in August 1997. For further information, e-mail gspread@bea.doc.gov, or call (202) 606-5340. Future Release Schedule for the GSP Estimates The release of the comprehensive revision of GSP is another step in updating and extending the regional accounts, as outlined in BEA's strategic plan. Later this year, BEA will release revised estimates of GSP for 1993-94 and preliminary estimates for 1995. In mid-1998, BEA will release revised estimates of GSP for 1995 and preliminary estimates for 1996. The publication of 1996 GSP estimates in mid-1998 will accomplish BEA's long-term strategic goal of releasing GSP estimates at the earliest possible release date given the schedule for receipt of state source data. Future improvements will focus on increasing the consistency among the U.S. gross product by industry estimates, the GSP estimates, and the benchmark national input-output accounts and on incorporating more state data into the GSP estimates. * * * BEA estimates are available in several forms in addition to the printed news releases. News releases are available at the time of public release through three subscription services offered by the Commerce Department's STAT-USA. To obtain information about the Electronic Bulletin Board and about the Internet services, see "Availability of Detailed Estimates of GSP" in this release. Information on how to receive releases by FAX may be obtained by calling (202) 482-1986 (voice). In addition, BEA's most frequently requested statistical series are available on the Internet, as follows: * The Federal Interagency Council on Statistical Policy maintains a web site, "FEDSTATS," that provides easy access to a full range of statistical information produced by 70 federal government agencies, including BEA. http://www.fedstats.gov * The Federal Statistical Briefing Room (FSBR) on the White House web site provides summary statistics for GDP and other major aggregates on its output, income, and international statistics pages. http://www.whitehouse.gov/fsbr * The FSBR provides links to BEA's web site, which provides summary tables and charts on BEA's national, international, and regional data. http://www.bea.gov * BEA's web site provides links to detailed BEA databases on STAT-USA's Internet subscription service. http://www.stat-usa.gov Summary estimates are available on recorded messages at the time of public release at the following telephone numbers: (202) 606-5306 Gross domestic product 5303 Personal income and outlays 5362 Summary of international transactions. Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's monthly journal. The Survey of Current Business is available from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402. First class mail: annual subscription $69.00 domestic. Second class mail: annual subscription $35.00 domestic, $43.75 foreign; single issue $11.00 domestic, $13.75 foreign. In addition, the Survey of Current Business is now available on the Internet in a searchable, retrievable electronic format at least a week before the printed version. To subscribe to STAT-USA's World Wide Web system, go to http://www.stat-usa.gov. Subscriptions for single-user unlimited access to STAT-USA's Internet information are $50.00 for 3 months or $150.00 for 1 year. For further information, call (202) 482-1986. * * * Table 1.--Gross State Product in Current Dollars, Selected Years, 1977-94 [Millions of dollars] ------------------------------------------------------------------------------------------------------------------------------------------- 1977 1982 1987 1988 1989 1990 1991 1992 1993 1994 ------------------------------------------------------------------------------------------------------------------------------------------- United States .............. 1,981,660 3,200,516 4,651,838 5,039,428 5,366,174 5,661,950 5,837,351 6,135,028 6,430,519 6,835,641 New England .............. 103,889 170,926 287,598 313,804 331,339 337,657 341,063 353,152 369,433 389,259 Connecticut ............ 29,372 48,612 80,866 88,799 94,175 98,387 99,713 102,651 106,286 110,449 Maine .................. 7,547 12,053 19,300 21,369 22,838 23,233 23,247 24,013 25,069 26,069 Massachusetts .......... 49,971 81,642 138,973 150,831 158,353 159,254 160,284 165,805 174,826 186,199 New Hampshire .......... 6,366 11,449 21,473 23,090 24,038 23,825 24,808 26,118 27,221 29,393 Rhode Island ........... 7,280 11,399 17,756 19,446 20,814 21,479 21,562 22,387 23,298 23,867 Vermont ................ 3,354 5,770 9,230 10,269 11,122 11,479 11,449 12,177 12,734 13,282 Mideast .................. 399,189 614,644 939,197 1,024,804 1,080,280 1,133,451 1,158,768 1,214,179 1,265,865 1,327,798 Delaware ............... 5,792 9,188 15,458 16,724 19,207 20,907 22,240 23,427 24,340 26,697 District of Columbia ... 15,228 22,301 31,984 35,205 38,123 40,839 42,706 45,240 47,294 48,028 Maryland ............... 35,396 55,713 91,610 101,416 108,569 113,939 116,231 119,109 124,587 132,703 New Jersey ............. 66,594 106,819 175,060 195,167 206,269 214,799 220,212 231,489 244,767 254,945 New York ............... 176,354 276,295 420,175 455,097 473,865 497,547 501,386 525,555 542,833 570,994 Pennsylvania ........... 99,826 144,328 204,910 221,197 234,247 245,420 255,993 269,359 282,044 294,431 Great Lakes .............. 388,554 533,512 762,032 814,091 862,091 896,676 920,311 976,767 1,030,905 1,111,598 Illinois ............... 115,367 163,178 230,030 246,740 260,827 273,387 281,942 298,370 312,582 332,853 Indiana ................ 47,358 63,349 91,406 98,005 105,199 108,769 112,492 120,286 127,398 138,190 Michigan ............... 87,477 112,105 166,367 175,693 184,909 188,397 190,501 202,630 217,082 240,390 Ohio ................... 97,740 135,659 192,138 204,798 216,745 226,855 232,355 245,032 256,050 274,844 Wisconsin .............. 40,613 59,221 82,091 88,856 94,409 99,268 103,022 110,449 117,793 125,321 Plains ................... 149,087 226,045 310,385 329,497 351,041 367,287 382,043 406,003 420,498 455,013 Iowa ................... 26,404 36,548 45,119 48,182 52,034 54,943 56,437 59,870 61,622 68,298 Kansas ................. 20,441 33,091 44,051 46,234 48,165 51,227 53,331 56,140 58,108 61,758 Minnesota .............. 36,156 56,280 83,625 89,201 95,505 99,638 102,891 110,655 115,189 124,641 Missouri ............... 41,995 61,788 89,812 96,081 101,973 104,079 109,049 114,672 118,587 128,216 Nebraska ............... 13,615 20,662 26,857 28,860 30,982 33,183 35,006 37,152 38,210 41,357 North Dakota ........... 5,357 9,954 10,133 9,722 10,500 11,383 11,481 12,579 12,656 13,494 South Dakota ........... 5,119 7,722 10,788 11,217 11,882 12,833 13,848 14,934 16,125 17,250 Southeast ................ 389,222 651,338 977,302 1,058,003 1,125,030 1,180,122 1,230,824 1,305,518 1,380,162 1,478,627 Alabama ................ 26,395 40,682 60,609 65,306 67,867 71,090 75,008 79,706 82,632 88,661 Arkansas ............... 14,921 23,135 32,252 34,250 36,441 37,850 40,559 44,214 46,666 50,575 Florida ................ 66,189 125,121 205,436 224,250 241,778 254,993 265,948 279,781 298,452 317,829 Georgia ................ 41,315 68,729 116,625 126,038 133,421 140,093 147,205 158,770 170,102 183,042 Kentucky ............... 28,512 41,364 56,754 60,766 64,571 67,446 69,841 76,064 80,400 86,485 Louisiana .............. 39,209 79,219 76,536 82,661 84,371 91,360 91,897 90,788 94,292 101,101 Mississippi ............ 15,830 24,509 33,111 35,030 36,648 37,964 40,066 43,318 46,062 50,587 North Carolina ......... 44,377 70,076 116,357 127,621 137,720 143,512 150,114 161,432 169,612 181,521 South Carolina ......... 20,334 32,923 53,197 57,613 61,837 65,434 67,892 71,132 75,060 79,925 Tennessee .............. 33,546 51,185 81,122 87,044 91,724 94,218 100,313 109,113 115,341 126,539 Virginia ............... 44,168 73,435 120,896 131,026 141,373 147,998 152,914 160,558 169,431 177,708 West Virginia .......... 14,425 20,960 24,406 26,397 27,278 28,162 29,067 30,642 32,112 34,654 Southwest ................ 185,074 367,743 433,039 473,091 501,759 542,334 564,628 597,401 631,245 677,888 Arizona ................ 19,168 34,255 58,909 62,825 65,369 68,410 70,972 78,449 84,478 94,093 New Mexico ............. 10,342 19,811 22,783 23,678 24,965 26,655 30,222 31,771 34,380 37,832 Oklahoma ............... 23,767 48,988 48,190 52,237 53,898 57,048 58,974 61,357 63,949 66,189 Texas .................. 131,796 264,689 303,157 334,350 357,526 390,221 404,460 425,824 448,439 479,774 Rocky Mountain ........... 54,547 99,943 124,238 131,817 139,350 149,733 158,373 170,064 184,380 198,132 Colorado ............... 25,116 47,533 62,881 66,342 69,549 74,349 78,960 85,434 93,152 99,767 Idaho .................. 7,023 10,482 13,753 14,859 16,544 17,502 18,327 20,116 22,239 24,185 Montana ................ 6,373 10,348 11,551 11,826 12,706 13,291 13,956 15,075 16,138 16,862 Utah ................... 10,399 18,553 25,107 27,067 28,525 31,101 33,353 35,314 38,013 41,657 Wyoming ................ 5,636 13,028 10,945 11,722 12,027 13,490 13,777 14,124 14,838 15,660 Far West ................. 312,097 536,364 818,047 894,319 975,284 1,054,689 1,081,341 1,111,945 1,148,031 1,197,326 Alaska ................. 7,443 23,069 21,274 21,385 23,087 25,461 22,954 22,241 25,011 22,720 California ............. 229,489 391,267 620,346 678,191 738,537 794,397 810,323 826,532 842,068 875,697 Hawaii ................. 9,400 15,512 23,337 25,823 28,860 32,488 33,883 34,987 36,258 36,718 Nevada ................. 7,427 14,207 21,921 25,080 28,093 31,143 33,174 36,040 39,290 43,958 Oregon ................. 22,417 31,858 44,893 49,165 52,978 57,037 59,764 63,345 68,892 74,366 Washington ............. 35,922 60,451 86,275 94,676 103,729 114,162 121,244 128,800 136,512 143,867 ------------------------------------------------------------------------------------------------------------------------------------------- Source: Bureau of Economic Analysis, U.S. Department of Commerce. ******************************************************************************************************************************************************************************** Table 2.--Gross State Product By Broad Industry Group in Current Dollars and as a Percentage of Total Gross State Product, 1987 and 1994 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Millions of dollars Percent of total gross state product --------------------------------------------------------------------------------------- ----------------------------------------------------------- 1987 1994 1987 1994 ------------------------------------------- ------------------------------------------- ----------------------------- ----------------------------- Private Private Total Private Private Total Private Private Private ser- Private ser- gross goods- services- Govern- gross goods- services- Govern- goods- vices- Govern- goods- vices- Govern- state producing producing ment state producing producing ment produc- produc- ment produc- produc- ment product indus- indus- product indus- indus- ing ing ing ing tries/1/ tries/2/ tries/1/ tries/2/ indus- indus- indus- indus- tries/1/ tries/2/ tries/1/ tries/2/ -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- United States .............. 4,651,838 1,282,910 2,772,848 596,080 6,835,641 1,674,236 4,294,523 866,882 27.6 59.6 12.8 24.5 62.8 12.7 New England .............. 287,598 80,107 179,125 28,366 389,259 82,627 267,578 39,055 27.9 62.3 9.9 21.2 68.7 10.0 Connecticut ............ 80,866 22,906 50,514 7,446 110,449 23,080 76,962 10,407 28.3 62.5 9.2 20.9 69.7 9.4 Maine .................. 19,300 5,684 10,872 2,745 26,069 6,281 16,091 3,697 29.5 56.3 14.2 24.1 61.7 14.2 Massachusetts .......... 138,973 37,207 88,700 13,067 186,199 37,516 131,067 17,616 26.8 63.8 9.4 20.1 70.4 9.5 New Hampshire .......... 21,473 6,748 12,788 1,937 29,393 7,346 19,207 2,840 31.4 59.6 9.0 25.0 65.3 9.7 Rhode Island ........... 17,756 4,829 10,786 2,141 23,867 5,187 15,823 2,857 27.2 60.7 12.1 21.7 66.3 12.0 Vermont ................ 9,230 2,733 5,466 1,031 13,282 3,217 8,428 1,637 29.6 59.2 11.2 24.2 63.5 12.3 Mideast .................. 939,197 205,750 616,381 117,065 1,327,798 239,732 918,202 169,863 21.9 65.6 12.5 18.1 69.2 12.8 Delaware ............... 15,458 4,951 8,912 1,595 26,697 6,586 17,746 2,364 32.0 57.7 10.3 24.7 66.5 8.9 District of Columbia ... 31,984 1,818 17,659 12,508 48,028 1,716 27,064 19,248 5.7 55.2 39.1 3.6 56.4 40.1 Maryland ............... 91,610 17,406 57,975 16,229 132,703 19,300 89,914 23,489 19.0 63.3 17.7 14.5 67.8 17.7 New Jersey ............. 175,060 43,244 113,675 18,141 254,945 47,597 179,468 27,880 24.7 64.9 10.4 18.7 70.4 10.9 New York ............... 420,175 80,249 293,520 46,406 570,994 90,055 415,842 65,097 19.1 69.9 11.0 15.8 72.8 11.4 Pennsylvania ........... 204,910 58,083 124,641 22,186 294,431 74,479 188,167 31,785 28.3 60.8 10.8 25.3 63.9 10.8 Great Lakes .............. 762,032 255,582 426,202 80,248 1,111,598 349,840 643,808 117,950 33.5 55.9 10.5 31.5 57.9 10.6 Illinois ............... 230,030 60,768 145,718 23,544 332,853 82,637 216,235 33,981 26.4 63.3 10.2 24.8 65.0 10.2 Indiana ................ 91,406 35,078 46,772 9,556 138,190 51,459 72,297 14,434 38.4 51.2 10.5 37.2 52.3 10.4 Michigan ............... 166,367 61,052 87,244 18,071 240,390 83,310 131,159 25,922 36.7 52.4 10.9 34.7 54.6 10.8 Ohio ................... 192,138 68,255 103,807 20,077 274,844 88,869 156,352 29,623 35.5 54.0 10.4 32.3 56.9 10.8 Wisconsin .............. 82,091 30,430 42,661 9,000 125,321 43,566 67,765 13,990 37.1 52.0 11.0 34.8 54.1 11.2 Plains ................... 310,385 94,653 176,374 39,358 455,013 130,018 268,532 56,463 30.5 56.8 12.7 28.6 59.0 12.4 Iowa ................... 45,119 15,703 23,740 5,676 68,298 24,346 35,793 8,159 34.8 52.6 12.6 35.6 52.4 11.9 Kansas ................. 44,051 13,278 24,619 6,154 61,758 16,822 35,779 9,158 30.1 55.9 14.0 27.2 57.9 14.8 Minnesota .............. 83,625 27,203 47,115 9,306 124,641 34,131 76,509 14,001 32.5 56.3 11.1 27.4 61.4 11.2 Missouri ............... 89,812 25,936 53,617 10,258 128,216 35,510 78,281 14,426 28.9 59.7 11.4 27.7 61.1 11.3 Nebraska ............... 26,857 6,990 15,357 4,511 41,357 11,311 23,856 6,190 26.0 57.2 16.8 27.3 57.7 15.0 North Dakota ........... 10,133 2,761 5,558 1,814 13,494 3,286 8,016 2,192 27.2 54.9 17.9 24.4 59.4 16.2 South Dakota ........... 10,788 2,783 6,367 1,639 17,250 4,613 10,299 2,337 25.8 59.0 15.2 26.7 59.7 13.6 Southeast ................ 977,302 292,098 542,517 142,686 1,478,627 393,244 875,409 209,974 29.9 55.5 14.6 26.6 59.2 14.2 Alabama ................ 60,609 19,625 30,625 10,360 88,661 26,050 48,166 14,445 32.4 50.5 17.1 29.4 54.3 16.3 Arkansas ............... 32,252 11,223 16,875 4,154 50,575 17,155 27,375 6,045 34.8 52.3 12.9 33.9 54.1 12.0 Florida ................ 205,436 39,562 139,599 26,276 317,829 48,049 229,103 40,677 19.3 68.0 12.8 15.1 72.1 12.8 Georgia ................ 116,625 32,788 67,767 16,070 183,042 43,294 115,477 24,270 28.1 58.1 13.8 23.7 63.1 13.3 Kentucky ............... 56,754 22,159 26,677 7,918 86,485 31,900 42,711 11,874 39.0 47.0 14.0 36.9 49.4 13.7 Louisiana .............. 76,536 28,308 39,422 8,806 101,101 33,140 55,559 12,402 37.0 51.5 11.5 32.8 55.0 12.3 Mississippi ............ 33,111 10,836 17,006 5,269 50,587 15,608 27,354 7,625 32.7 51.4 15.9 30.9 54.1 15.1 North Carolina ......... 116,357 45,160 55,463 15,734 181,521 65,142 92,155 24,224 38.8 47.7 13.5 35.9 50.8 13.3 South Carolina ......... 53,197 18,167 25,626 9,404 79,925 26,505 40,738 12,682 34.2 48.2 17.7 33.2 51.0 15.9 Tennessee .............. 81,122 25,459 44,816 10,847 126,539 37,353 73,638 15,547 31.4 55.2 13.4 29.5 58.2 12.3 Virginia ............... 120,896 30,291 66,057 24,549 177,708 37,837 104,356 35,516 25.1 54.6 20.3 21.3 58.7 20.0 West Virginia .......... 24,406 8,521 12,586 3,300 34,654 11,210 18,776 4,668 34.9 51.6 13.5 32.3 54.2 13.5 Southwest ................ 433,039 125,199 247,154 60,686 677,888 186,241 402,069 89,578 28.9 57.1 14.0 27.5 59.3 13.2 Arizona ................ 58,909 14,199 35,999 8,712 94,093 21,686 59,327 13,081 24.1 61.1 14.8 23.0 63.1 13.9 New Mexico ............. 22,783 5,352 12,712 4,719 37,832 10,342 20,593 6,897 23.5 55.8 20.7 27.3 54.4 18.2 Oklahoma ............... 48,190 14,525 25,519 8,146 66,189 18,312 36,986 10,891 30.1 53.0 16.9 27.7 55.9 16.5 Texas .................. 303,157 91,124 172,925 39,108 479,774 135,902 285,163 58,709 30.1 57.0 12.9 28.3 59.4 12.2 Rocky Mountain ........... 124,238 31,923 72,345 19,970 198,132 48,985 120,333 28,813 25.7 58.2 16.1 24.7 60.7 14.5 Colorado ............... 62,881 14,171 38,831 9,880 99,767 20,879 64,843 14,045 22.5 61.8 15.7 20.9 65.0 14.1 Idaho .................. 13,753 4,282 7,404 2,067 24,185 7,853 13,002 3,330 31.1 53.8 15.0 32.5 53.8 13.8 Montana ................ 11,551 2,896 6,709 1,947 16,862 3,882 10,238 2,742 25.1 58.1 16.9 23.0 60.7 16.3 Utah ................... 25,107 6,115 14,485 4,507 41,657 10,067 24,932 6,659 24.4 57.7 18.0 24.2 59.9 16.0 Wyoming ................ 10,945 4,460 4,916 1,570 15,660 6,304 7,318 2,038 40.7 44.9 14.3 40.3 46.7 13.0 Far West ................. 818,047 197,597 512,749 107,701 1,197,326 243,549 798,592 155,186 24.2 62.7 13.2 20.3 66.7 13.0 Alaska ................. 21,274 9,225 8,502 3,546 22,720 6,800 11,178 4,742 43.4 40.0 16.7 29.9 49.2 20.9 California ............. 620,346 147,690 396,763 75,894 875,697 173,884 595,035 106,778 23.8 64.0 12.2 19.9 67.9 12.2 Hawaii ................. 23,337 2,617 15,250 5,470 36,718 3,785 25,123 7,811 11.2 65.3 23.4 10.3 68.4 21.3 Nevada ................. 21,921 3,276 16,039 2,606 43,958 6,850 32,475 4,633 14.9 73.2 11.9 15.6 73.9 10.5 Oregon ................. 44,893 12,969 25,927 5,997 74,366 20,572 44,283 9,511 28.9 57.8 13.4 27.7 59.5 12.8 Washington ............. 86,275 21,820 50,268 14,187 143,867 31,658 90,498 21,711 25.3 58.3 16.4 22.0 62.9 15.1 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- /1/ Private goods-producing industries are defined to consist of agriculture, forestry, and fishing; mining; construction; and manufacturing. /2/ Private services-producing industries are defined to consist of transportation and public utilities; wholesale trade; retail trade; finance, insurance, and real estate; and "services." Source: Bureau of Economic Analysis, U.S. Department of Commerce. ******************************************************************************************************************************************************************************** Table 3.--Real Gross State Product, 1987-94 [Millions of chained (1992) dollars] -------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 -------------------------------------------------------------------------------------------------------------------- United States .............. 5,543,830 5,827,696 5,967,370 6,023,917 5,989,202 6,135,028 6,256,478 6,518,459 New England .............. 343,650 364,359 370,249 360,593 349,658 353,152 358,223 369,630 Connecticut ............ 96,819 103,418 105,432 105,054 101,920 102,651 102,504 104,319 Maine .................. 23,141 24,737 25,370 24,805 23,884 24,013 24,283 24,629 Massachusetts .......... 166,090 175,110 177,104 170,169 164,545 165,805 169,949 177,313 New Hampshire .......... 25,262 26,519 26,618 25,284 25,381 26,118 26,489 28,066 Rhode Island ........... 21,391 22,752 23,407 23,067 22,191 22,387 22,625 22,686 Vermont ................ 10,941 11,822 12,319 12,220 11,738 12,177 12,380 12,641 Mideast .................. 1,130,915 1,194,242 1,210,923 1,214,554 1,191,219 1,214,179 1,230,249 1,262,269 Delaware ............... 19,687 20,462 22,451 23,047 23,079 23,427 23,479 25,194 District of Columbia ... 40,492 42,685 44,301 45,148 44,462 45,240 45,708 44,715 Maryland ............... 110,568 118,206 121,752 122,256 119,619 119,109 120,989 125,565 New Jersey ............. 209,961 225,492 229,444 228,340 225,611 231,489 237,814 242,171 New York ............... 505,203 531,329 532,307 534,515 516,050 525,555 528,229 544,749 Pennsylvania ........... 244,940 255,977 260,662 261,300 262,406 269,359 274,028 279,897 Great Lakes .............. 902,631 936,688 954,713 954,971 943,527 976,767 1,002,179 1,057,534 Illinois ............... 272,412 283,348 288,686 290,730 288,632 298,370 303,947 317,166 Indiana ................ 108,053 112,025 115,588 115,318 115,124 120,286 123,962 131,629 Michigan ............... 197,688 203,719 206,451 202,592 196,299 202,630 210,435 227,368 Ohio ................... 228,154 236,270 240,480 241,359 238,181 245,032 249,076 261,625 Wisconsin .............. 96,448 101,434 103,597 105,017 105,295 110,449 114,755 119,713 Plains ................... 366,464 377,287 386,860 389,096 391,021 406,003 408,937 433,871 Iowa ................... 52,631 54,564 56,695 57,905 57,559 59,870 59,942 65,314 Kansas ................. 52,243 53,334 53,413 54,255 54,636 56,140 56,567 58,981 Minnesota .............. 98,419 101,637 104,929 105,254 105,226 110,655 111,922 118,672 Missouri ............... 107,337 111,459 113,721 111,239 111,928 114,672 115,214 121,801 Nebraska ............... 31,268 32,496 33,643 34,870 35,736 37,152 37,218 39,613 North Dakota ........... 11,805 11,020 11,432 11,910 11,724 12,579 12,355 12,966 South Dakota ........... 12,832 12,862 13,080 13,663 14,216 14,934 15,719 16,524 Southeast ................ 1,169,609 1,226,727 1,253,446 1,258,903 1,265,188 1,305,518 1,345,501 1,416,855 Alabama ................ 71,618 74,673 74,681 75,366 76,906 79,706 80,547 84,630 Arkansas ............... 37,931 39,088 39,936 40,000 41,545 44,214 45,491 48,344 Florida ................ 246,059 260,352 270,082 272,680 273,329 279,781 289,909 301,800 Georgia ................ 138,624 145,042 148,064 149,311 151,170 158,770 165,699 175,034 Kentucky ............... 67,105 69,943 71,589 71,906 71,727 76,064 78,568 83,249 Louisiana .............. 91,146 95,845 92,951 93,930 93,450 90,788 91,651 97,022 Mississippi ............ 39,070 40,241 40,442 40,198 41,054 43,318 44,741 48,176 North Carolina ......... 143,379 151,541 156,525 156,007 155,599 161,432 166,269 177,167 South Carolina ......... 62,733 65,748 68,045 69,536 69,625 71,132 73,323 76,721 Tennessee .............. 96,687 100,388 101,794 100,440 102,956 109,113 112,296 120,661 Virginia ............... 147,245 154,379 160,020 160,125 158,259 160,558 165,444 170,594 West Virginia .......... 27,871 29,403 29,386 29,432 29,555 30,642 31,563 33,485 Southwest ................ 510,261 543,099 552,042 565,496 575,878 597,401 615,246 651,023 Arizona ................ 69,802 72,186 72,345 72,754 72,803 78,449 82,159 89,450 New Mexico ............. 26,647 27,038 27,370 27,847 30,891 31,771 33,626 36,473 Oklahoma ............... 56,578 59,886 59,233 59,612 60,171 61,357 62,288 63,541 Texas .................. 357,257 384,014 393,119 405,285 412,004 425,824 437,173 461,547 Rocky Mountain ........... 145,573 150,443 152,996 157,449 162,034 170,064 179,792 189,624 Colorado ............... 74,413 76,451 77,131 78,837 80,969 85,434 90,772 95,327 Idaho .................. 16,094 16,821 18,007 18,483 18,815 20,116 21,572 23,000 Montana ................ 13,406 13,308 13,775 13,895 14,272 15,075 15,689 16,046 Utah ................... 29,718 31,015 31,451 32,860 34,151 35,314 37,043 39,666 Wyoming ................ 11,979 12,863 12,649 13,372 13,823 14,124 14,713 15,582 Far West ................. 978,233 1,037,040 1,086,899 1,122,695 1,110,126 1,111,945 1,116,147 1,139,083 Alaska ................. 23,881 24,429 24,899 25,157 23,281 22,241 24,615 22,308 California ............. 742,606 786,822 824,032 846,614 831,680 826,532 819,175 833,935 Hawaii ................. 28,156 30,153 32,438 34,891 34,904 34,987 35,156 34,748 Nevada ................. 25,879 28,506 30,802 32,952 34,018 36,040 38,237 41,547 Oregon ................. 53,487 56,624 58,612 60,792 61,531 63,345 66,466 70,122 Washington ............. 104,079 110,373 115,990 122,193 124,701 128,800 132,494 136,328 -------------------------------------------------------------------------------------------------------------------- Note: Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992 current-dollar value of the corresponding series, divided by 100 (see "Explanatory Note" at the end of this release). Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive; that is, state totals usually do not add to regional totals or to U.S. totals, and regional totals usually do not add to U.S. totals. Source: Bureau of Economic Analysis, U.S. Department of Commerce. **************************************************************************************************************************************************** Table 4.--Average Annual Rate of Change in Real Gross State Product by Industry, 1987-94 [Percent based on chain-type quantity indexes (1992=100)] ---------------------------------------------------------------------------------------------------------------------------------------------------- Agri- Trans- Finance, Rank of Total culture, Con- Manu- por- Whole- insur- percent gross forestry, Mining struc- factur- tation sale Retail ance, Ser- Govern- change state and tion ing and trade trade and real vices ment in total product fishing public estate gross utilities state product ---------------------------------------------------------------------------------------------------------------------------------------------------- United States .............. 2.3 4.1 1.6 0.8 1.6 3.6 4.9 2.3 2.3 2.6 1.3 ....... New England .............. 1.0 .4 -4.1 -4.8 -.8 3.2 3.5 .2 2.2 2.2 .5 ....... Connecticut ............ 1.1 4.0 -13.3 -5.5 -1.6 2.6 3.4 -.3 2.9 2.5 .8 45 Maine .................. .9 -1.8 15.1 -3.9 -.2 1.3 3.0 2.3 1.9 2.0 .2 48 Massachusetts .......... .9 -.6 -.3 -4.3 -1.0 3.6 3.5 -.3 1.9 2.0 .2 46 New Hampshire .......... 1.5 1.8 -7.5 -8.5 2.1 3.0 4.5 1.3 2.1 2.3 1.5 42 Rhode Island ........... .8 -1.9 3.9 -2.2 -.8 4.8 1.7 .2 1.6 1.6 .2 49 Vermont ................ 2.1 .8 -.6 -2.6 1.4 5.1 5.3 1.9 .8 2.9 2.5 32 Mideast .................. 1.6 1.8 .9 -1.9 .2 3.0 3.0 .9 2.4 2.0 1.1 ....... Delaware ............... 3.6 3.7 5.7 1.2 .4 1.9 4.7 2.6 7.5 3.0 1.7 12 District of Columbia ... 1.4 4.7 -1.4 -5.4 -4.8 2.7 .5 -2.0 2.0 2.5 1.3 ....... Maryland ............... 1.8 1.9 -.4 -2.5 0 4.3 3.5 .5 3.3 2.6 1.0 37 New Jersey ............. 2.1 2.3 2.6 -2.4 -1.2 4.2 5.9 .6 3.0 2.9 2.1 33 New York ............... 1.1 .8 -4.7 -2.7 -.1 2.1 1.0 .6 1.9 1.5 .8 44 Pennsylvania ........... 1.9 2.2 2.5 .2 1.6 3.0 3.8 2.0 2.4 1.7 1.0 36 Great Lakes .............. 2.3 3.8 .2 3.1 2.1 2.0 5.2 2.0 2.1 2.1 1.5 ....... Illinois ............... 2.2 7.3 -.2 2.2 2.1 2.7 4.3 1.2 1.8 2.3 1.2 30 Indiana ................ 2.9 4.0 5.1 5.0 3.1 1.4 6.4 2.6 2.3 2.6 1.8 25 Michigan ............... 2.0 3.0 -2.0 2.8 1.7 1.0 5.8 1.8 2.3 1.9 1.2 34 Ohio ................... 2.0 4.9 -1.3 2.5 1.3 2.0 5.5 2.4 2.2 1.6 1.5 35 Wisconsin .............. 3.1 -.6 11.0 5.5 3.6 2.8 5.8 3.3 2.7 2.4 2.3 17 Plains ................... 2.4 4.4 -1.4 3.1 2.2 2.9 5.3 2.7 1.7 2.2 1.1 ....... Iowa ................... 3.1 5.0 4.5 7.5 4.6 2.4 5.3 3.4 1.3 1.3 1.1 18 Kansas ................. 1.7 5.7 -2.2 1.6 0 3.3 4.5 3.0 -.4 1.9 1.8 39 Minnesota .............. 2.7 .8 5.1 1.8 1.2 2.9 6.3 2.8 3.4 3.4 1.8 26 Missouri ............... 1.8 2.2 .2 2.1 1.7 1.9 4.7 2.0 1.4 1.6 .7 38 Nebraska ............... 3.4 6.9 1.3 7.3 4.7 5.3 5.5 2.6 1.2 2.7 .6 14 North Dakota ........... 1.3 5.0 -8.5 2.9 4.2 3.6 4.6 2.3 -.7 1.0 -1.1 43 South Dakota ........... 3.7 6.4 .6 5.6 8.2 3.7 6.2 3.9 .8 3.6 1.1 9 Southeast ................ 2.8 5.1 .4 1.0 2.0 4.6 5.7 2.9 2.3 3.6 1.6 ....... Alabama ................ 2.4 7.0 6.0 3.2 1.3 4.0 5.9 3.2 1.7 2.7 .6 29 Arkansas ............... 3.5 6.4 .8 3.8 3.8 5.6 6.6 4.0 1.4 2.6 1.3 13 Florida ................ 3.0 2.4 -2.6 0 .6 5.1 6.2 3.1 2.7 3.6 2.3 23 Georgia ................ 3.4 7.8 -.7 -1.3 1.9 6.2 5.4 3.0 3.4 4.8 1.9 15 Kentucky ............... 3.1 3.7 6.4 3.4 2.8 6.1 6.3 2.9 1.2 2.5 1.8 19 Louisiana .............. .9 3.0 -2.4 3.9 .9 2.4 4.2 1.4 -.6 2.0 1.0 47 Mississippi ............ 3.0 4.4 -11.1 4.7 3.5 3.6 6.4 2.7 1.4 5.1 1.3 22 North Carolina ......... 3.1 9.1 -9.7 2.1 1.9 3.9 6.3 3.2 2.7 4.6 2.4 20 South Carolina ......... 2.9 5.8 1.7 .3 4.1 3.4 4.5 3.1 2.2 4.0 .4 24 Tennessee .............. 3.2 4.2 -.7 1.6 3.4 5.2 5.5 3.8 1.9 3.8 .9 16 Virginia ............... 2.1 4.2 5.1 -1.2 .2 4.1 5.1 2.0 2.7 3.4 1.3 31 West Virginia .......... 2.7 5.3 7.1 5.6 1.3 4.6 4.3 1.7 0 2.1 .8 27 Southwest ................ 3.5 4.9 3.6 3.2 4.3 5.3 6.0 3.0 2.6 3.3 1.6 ....... Arizona ................ 3.6 1.4 10.4 1.3 5.5 5.4 7.1 3.7 2.4 3.4 1.8 10 New Mexico ............. 4.6 6.0 3.4 5.2 17.6 3.7 6.3 4.1 2.9 3.5 1.4 3 Oklahoma ............... 1.7 4.5 -2.5 3.6 3.1 3.9 4.5 2.1 .2 1.1 .1 40 Texas .................. 3.7 5.7 4.3 3.6 3.7 5.7 6.0 2.9 3.0 3.6 1.8 8 Rocky Mountain ........... 3.8 4.5 5.3 6.9 4.0 5.2 6.3 4.5 2.5 3.9 1.2 ....... Colorado ............... 3.6 4.0 3.7 6.1 3.1 6.1 6.2 3.9 2.5 4.0 1.0 11 Idaho .................. 5.2 4.6 .7 11.9 6.6 6.3 8.0 5.5 3.4 3.6 2.8 2 Montana ................ 2.6 4.8 3.0 5.6 .4 2.5 5.7 4.2 1.2 2.7 .8 28 Utah ................... 4.2 5.0 5.8 7.7 4.8 4.2 6.3 6.0 3.1 4.4 1.4 4 Wyoming ................ 3.8 4.5 6.4 2.6 6.0 4.8 3.9 2.7 1.1 2.6 -.3 7 Far West ................. 2.2 3.7 -2.6 0 .9 3.1 5.1 2.6 2.4 2.7 1.3 ....... Alaska ................. -1.0 -2.7 -6.8 2.5 .4 .7 4.9 3.4 1.8 2.1 .3 50 California ............. 1.7 3.6 -.6 -3.0 .8 2.7 4.5 1.8 1.9 2.0 .9 41 Hawaii ................. 3.1 1.0 10.6 6.7 -2.4 3.8 5.4 4.2 3.3 3.5 1.4 21 Nevada ................. 7.0 6.5 9.2 11.0 8.5 5.2 10.4 6.7 8.2 6.1 4.3 1 Oregon ................. 3.9 4.7 6.0 9.4 2.7 3.1 7.2 4.9 3.8 3.9 2.5 5 Washington ............. 3.9 4.4 6.2 6.9 .4 5.4 6.3 5.0 4.0 5.6 2.1 6 ---------------------------------------------------------------------------------------------------------------------------------------------------- Source: Bureau of Economic Analysis, U.S. Department of Commerce. **************************************************************************************************************************************************** Explanatory Note: Measures of Real Gross State Product Estimation of GSP by state and industry consists of two broad computational stages: Estimation of current-dollar values (presented in table 1 of this release) and separation of the current-dollar values into a price-change element and a quantity-change element. The quantity-change element is referred to as the change in real GSP. The measures of the change in real GSP are "chain-type" quantity indexes that are based on the "Fisher Ideal" formula that incorporates weights from two adjacent years. For example, the 1992-93 percent change in real GSP uses prices for 1992 and 1993 as weights. The quantity indexes for GSP in this release are presented in the form of average annual percentage changes for 1987-94 in table 4 of this release. In addition, BEA prepares measures of real GSP in a dollar-denominated form, designated "chained (1992) dollar estimates." These estimates, which are presented in table 3 of this release, are computed by multiplying the 1992 current-dollar value of GSP by the chain-type quantity index number (divided by 100) for each year. For example, if a current- dollar GSP value equaled $100 in 1992 and if real GSP increased by 10 percent in 1993, then the "chained (1992) dollar" value in 1993 would be $110 ($100 x 1.10).