The U.S. Bureau of Economic Analysis reported that real GDP increased in 44 states and the District of Columbia, with the national GDP growing at an annualized rate of 2.1% in the second quarter of 2023.
Why it matters. Economic performance data affects investors, policymakers, and businesses, influencing market expectations and fiscal decisions.
Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 8.
Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 8.7 percent in Wyoming to –1.9 percent in Vermont (table 1), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).
In the second quarter of 2023, while real GDP for the nation increased at an annual rate of 2.1 percent, real GDP increased in 14 of the 23 industry groups for which BEA prepares quarterly state estimates (table 2).
Real gross domestic product (GDP) by industry, or value added , is a measure of an industry’s contribution to GDP. In the second quarter, value added increased 7.7 percent for private goods-producing industries, 1.0 percent for private services-producing industries, and 1.0 percent for government (table 1). Overall, 13 of 22 industry groups contributed to the 2.1 percent annualized growth rate in…
