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Texas Leads Nation in Economic Growth

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia…

  • November 29, 2018

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2018, according to statistics released today by the U.S. Bureau of Economic Analysis.

The percent change in real GDP in the second quarter ranged from 6.0 percent in Texas to 2.5 percent in Delaware.

Information services; real estate and rental and leasing; professional, scientific, and technical services; and durable goods manufacturing were the leading contributors to the increase in real GDP nationally.

Texas, the fastest growing state, was led by growth in mining and durable goods manufacturing.

Other highlights:

  • Nationally, information services; real estate and rental and leasing; and professional, scientific, and technical services increased 13.4 percent, 5.3 percent, and 9.3 percent, respectively. All three industries contributed to growth in every state and the District of Columbia.
  • Durable goods manufacturing increased 7.3 percent. This industry was the leading contributor to growth in Michigan and Missouri–the second and third fastest growing states.
  • Mining increased 11.7 percent. In addition to Texas, this industry was the leading contributor to the increases in Alaska, North Dakota, and Oklahoma.
  • Agriculture, forestry, fishing, and hunting increased 8.5 percent rebounding from a decline in the first quarter. This industry was the leading contributor to the increases in South Dakota, Montana, and Minnesota.

You can check your state’s real GDP growth here: https://www.bea.gov/index.php/news/2018/gross-domestic-product-state-2nd-quarter-2018.

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