West Virginia Had the Fastest GDP Growth in the First Quarter

Date: July 25, 2019

Real GDP in the first quarter of 2019 increased in all 50 states and the District of Columbia. According to the U.S. Bureau of Economic Analysis (BEA), “The percent change in real GDP in the first quarter ranged from 5.2 % in West Virginia to 1.2 % in Hawaii.”

 

The following highlights were made by the BEA

• The leading contributors to the rise in the real GDP nationally were finance and insurance, retail trade, and health care and social assistance which increased 9.5%, 11.9% and 6.2% respectively.
• Mining for the nation was the leading contributor to growth in several states including West Virginia, Texas and New Mexico which are the fastest growing states. Tis industry gre 26.5% relative to an increase of 38% in the fourth quarter.
• For the nation, the government sector fell 1.1 % and slowed growth in most states partially attributable to federal government shutdown in January 2019.

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2019-07-25T13:32:22+00:00