States F Gdp

EAST

the couNcil of stAte GoVerNMeNts | oCToBeR 2012

The Book of The STaTeS 2012 facts & figures
TRENDS IN STATE GDP: 2011
Forty-three states and the District of Columbia saw an increase in real gross domestic product in 2011, a modest slowdown compared to 2010. Each region performed differently, with several states posting more than a 4 percent gain and one state posting a 7.6 percentgain. Most states fell between a 0.03 percent and a 3.3 percent growth rate from 2010 to 2011.

Regional analysis
 With average year-over-year GDP growth at 1 percent, the Eastern region experienced the smallest gains in CSG’s regions, falling below the national average of 1.5 percent.  Massachusetts (2.2 percent) and Connecticut (2 percent) posted the biggest increases in the region, while NewJersey (-0.5 percent) and Maine (-0.4 percent) made the least progress in the region as GDP dropped from 2010 to 2011.  Finance and insurance, durable-goods manufacturing, professional, scientific and technical services were the major positive contributors to change in real GDP, adding 0.91 points to the region’s GDP growth from 2010 to 2011.  Real estate, rental and leasing, utilities,agriculture, forestry, fishing and hunting were the biggest contributors to losses in real GDP, shaving 0.59 points off the region’s GDP growth from 2010 to 2011.

National analysis
 Real gross domestic product grew in 43 states and the District of Columbia in 2011 with a national average increase of 1.47 percent, according to a June 2012 report by the Bureau of Economic Analysis. That’s compared toa 3.1 percent average annual increase in 2010.  Seven states—Alabama, Hawaii, Maine, Mississippi, Montana, New Jersey and Wyoming—experienced a drop in year-over-year GDP, each decreasing by less than 0.78 percent.  Oregon, North Dakota and West Virginia each experienced big gains in GDP, all growing by 4.5 percent or more, with North Dakota posting a 7.6 percent increase over 2010.  Durablegoods manufacturing, professional, scientific and technical services, and information services were the leading contributors to real U.S. economic growth in 2011.

Real
 Na'onal
 GGross Domes'c
 Product,
 2006-­‐2012*
 
  Real National ross
  Domestic Product, 2006-2012*
14
  13.8
  13.6
  13.4
  13.2
  13
  12.8
  12.6
  12.4
  12.2
  12
 2Q
  3Q
  4Q
  1Q
  2Q
  3Q
  4Q
  1Q
  2Q
  3Q
  4Q
  1Q
  2Q
  3Q
  4Q
  1Q
  2Q
  3Q
  4Q
  1Q
  2Q
  3Q
  4Q
  1Q
  2Q
 

2006

2007

2008

2009

2010

2011

2012

*National GDP by quarter, seasonally adjusted in trillions of 2005-chained dollars (inflation adjusted)

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Gross Domestic Product by State
State or other jurisdiction 2011 GDP in $ millions
(a)

the couNcil of stAte GoVerNMeNts
Contribution to Percent Change in Real GDP, 2010-11, by Major Industry Categories (e)
real estate (c) utilities Agriculture (d) finance & insurance durable-goods manufacturing Professional, scientific & techservices

% Change in Real GDP, 2010-2011
(b)

 EAST REGION
Connecticut Delaware maine maryland massachusetts new hampshire new Jersey new York Pennsylvania rhode island vermont Regional total

$230,090 $65,755 $51,585 $301,100 $391,771 $63,556 $486,989 $1,157,969 $578,839 $50,091 $25,905 $3,403,650 $670,727 $278,128 $148,986 $130,923 $385,248 $281,712 $94,160 $40,328 $483,962 $40,117 $254,818$2,809,109 $173,122 $105,846 $754,255 $418,943 $164,799 $247,720 $97,810 $249,525 $439,862 $154,966 $165,785 $266,527 $1,308,132 $428,909 $66,821 $5,043,022 $51,376 $258,447 $1,958,904 $264,308 $66,991 $57,927 $37,990 $130,366 $79,414 $194,742 $124,483 $355,083 $37,617 $3,617,648 $1,658,744

2.0 1.6 -0.4 0.9 2.2 1.5 -0.5 1.1 1.2 0.7 0.5 1.0 1.3 1.1 1.9 0.5 2.3 1.2 0.1 7.6 1.1 0.8 1.1 1.4 -0.8...