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Friday, November 15, 2019
BEA: Hawaii Economic Growth Slowest in USA
By News Release @ 5:09 PM :: 791 Views :: Economy, Hawaii Statistics

Gross Domestic Product by State: Second Quarter 2019

Texas Had the Fastest Growth in the Second Quarter

News Release from Bureau of Economic Advisors, Nov 7, 2019

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2019, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the second quarter ranged from 4.7 percent in Texas to 0.5 percent in Hawaii (table 1).

Percent Change in Real GDP by State, 2019:Q1-2019:Q2

Professional, scientific, and technical services; government; real estate and rental and leasing; and mining were the leading contributors to the increase in real GDP nationally (table 2). Mining increased 23.5 percent for the nation (GDP by Industry table 1) and was the leading contributor to the increases in Texas, Wyoming, Alaska, and New Mexico—the fastest growing states.

Other Highlights

  • Professional, scientific, and technical services increased 7.4 percent for the nation and contributed to growth in all 50 states and the District of Columbia.
  • Government increased 3.1 percent for the nation and contributed to growth in all 50 states and the District of Columbia.
  • Real estate and rental and leasing increased 2.6 percent for the nation and contributed to growth in 49 states and the District of Columbia.
  • Wholesale trade decreased 6.7 percent for the nation, subtracting from growth in all 50 states and the District of Columbia. Wholesale trade was the leading contributor to slow growth in Hawaii, Maine, and New Jersey – the slowest growing states.

CB: Report: Hawaii’s Economic Growth Is The Lowest In The Nation

Related: Activist Attacks Destroy Another 17% of Hawaii Seed Industry Acreage

Related: Activist Attacks Destroy 15% of Hawaii Agriculture

 

 

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