Article source: ConstructConnect
Table 1 sets out the latest published year-over-year and quarter-to-quarter ‘real’ (i.e., adjusted for inflation) gross domestic product (GDP) growth rates for the 50 U.S. states, plus District of Columbia. The data is made available by the Bureau of Economic Analysis (BEA).
The year-over-year comparisons on the left-hand side of Table 1 are based on 2018 versus 2017 results. The quarter-to-quarter comparisons on the right-hand side of the table are for Q4 2018 versus Q3 2018. The q/q percentage changes are compounded to the power of four, making them equivalent to annual growth rates. (The ‘real’ dollar volumes underlying the q/q percent change calculations have been seasonally adjusted.)
7 State GDP Growth Headliners
Above the first bold horizontal line in Table 1 are the 15 states that have performed best either year-over-year or quarter-to-quarter. Washington recorded the strongest GDP growth y/y, at +5.7%, while Texas ranked number one for q/q gain, at +6.6%.
Seven states were in the Top 15 for both y/y and q/q GDP growth rates. Those seven appear in green shading. They are: Washington, Idaho, Arizona, California, Colorado, Nevada, and Texas.
