Gross Domestic Product by Metropolitan Area and State

Economic growth is the increased value of goods produced and services provided in the US, also known as gross domestic product, or real GDP.  The GDP is the most comprehensive measure of national economic growth. 

BEA issues a series of estimates, each based on more complete data than the prior estimates. 

Per the Bureau of Labor Statistics (BLS), slower economic growth in recent decades is attributable, in part, to a slowdown in labor force growth. Growth of the 75-and-older age group, who are less likely to work, is projected to account for more than two-thirds of all population growth over the 2023–33 projections period. Limited growth in the working age population means fewer new workers to produce goods and provide services and, in turn, limited overall growth of the economy.

Quarterly National GDP

BEA issues data on how much real gross domestic product (GDP) has changed on an annual rate in each quarter, according to the estimates released by the BEA.  

Changes in profits from current production (corporate profits with inventory valuation adjustment and capital consumption adjustment) compared with prior quarters are also analyzed.

Annual Metropolitan Area GDP

Annual real gross domestic product (GDP) is measured in metropolitan statistical areas (MSAs), according to statistics on the geographic breakout of GDP released by the Bureau of Economic Analysis.  Real GDP change by metropolitan area is described in annual percent growth in each MSA.

Annual State GDP

Changes in annual real GDP a percent change in real GDP growth or decline.

Quarterly State GDP

Quarterly real gross domestic product (GDP) may change for states over the quarter, according to statistics on the geographic breakout of GDP released by the U.S. Bureau of Economic Analysis. The percent change in real GDP indicates the relative strength of the state's economy over the quarter of each year.

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• Posted by: Katie Mehle
• Posted in: LMI Central