Trends in State GDP: 2011 | CSG Knowledge Center

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 percent gain. Most states fell between a 0.03 percent and a 3.3 percent growth rate from 2010 to 2011.

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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 to a 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.
• Durable goods manufacturing, professional, scientific and technical services, and information services were the leading contributors to real U.S. economic growth in 2011.

Regional Analysis:

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• With average year-over-year real GDP growth of 1.4 percent, CSG?s Midwestern region was close to the national average of 1.5 percent in 2011.
• Michigan (2.3 percent) and North Dakota (7.6 percent) posted the biggest increases, while South Dakota (0.8 percent), Kansas (0.5 percent) and Nebraska (0.1 percent) had the most modest gains in the region.
• Mining, professional, scientific and technical services, and durable-goods manufacturing were the major positive contributors to change in real GDP, adding a total of 1.1 points to the region?s GDP growth from 2010 to 2011.
• Agriculture, forestry, fishing and hunting, utilities and government were the biggest contributors to losses in real GDP, shaving 0.65 points off the region?s GDP growth from 2010 to 2011.?

• 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 New Jersey (-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.?

• With average year-over-year GDP growth at 1.5 percent, the Southern region was CSG?s second highest-performing region, equal to the national average.
• West Virginia (4.5 percent) and Texas (3.3 percent) posted the biggest increases, while Mississippi (-0.8 percent) and Alabama (-0.8 percent) made the least progress in the region as GDP dropped from 2010 to 2011.
• Professional, scientific and technical services, mining and durable-goods manufacturing were the major positive contributors to change in real GDP, adding 0.9 points to the region?s GDP growth from 2010 to 2011.
• Real estate, rental and leasing, agriculture, forestry, fishing and hunting, and utilities were the biggest contributors to losses in real GDP, shaving 0.64 points off the region?s GDP growth from 2010 to 2011.?

• With average year-over-year GDP growth at 1.9 percent, CSG?s Western region showed the most improvement of any region in 2011 and was above the national average of 1.5 percent.
• Oregon (4.7 percent) and Alaska (2.5 percent) posted the biggest increases, while Wyoming (-1.2 percent) and Hawaii (-0.2 percent) made the least progress in the region as GDP dropped from 2010 to 2011.
• Health care and social assistance, professional, scientific and technical services, and durable-goods manufacturing were the major positive contributors to change in real GDP, adding 1.1 points to the region?s GDP growth from 2010 to 2011.
• Real estate, rental and leasing, agriculture, forestry, fishing and hunting, and construction were the biggest contributors to losses in real GDP, shaving 0.57 points off the region?s GDP growth from 2010 to 2011.?

Trends in State GDP: 2011

Source: http://knowledgecenter.csg.org/drupal/content/trends-state-gdp-2011

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