GDP Rankings By State for Q3 2019 Driven By Manufacturing
Texas led the nation in gross domestic product (GDP) growth in the third quarter (Q3) of 2019, according to GDP rankings by state from the Bureau of Economic Analysis (BEA). Real GDP rose in 49 states and the District of Columbia (DC) in Q3 2019, ranging from a high of 4.0% in Texas to a low of 0.0% in Delaware.
The primary drivers of GDP growth nationwide for the quarter were nondurable goods manufacturing; retail trade; and professional, scientific, and technical services. Manufacturing, particularly nondurable goods, rose 10.1% for the nation and contributed to economic growth in all 50 states.
Unsurprisingly, the nondurable goods manufacturing industry was the leading contributor to growth in Texas.
Retail trade gained 8.2% nationwide. The industry contributed to growth in all 50 states and District of Columbia (DC). Professional, scientific, and technical services rose 5.6% for the nation, also contributing to growth in all 50 states and the District of Columbia (DC).
The finance and insurance industry fell 5.3% nationwide, slicing a piece of GDP growth in all 50 states and the District of Columbia (DC). This industry was the leading contributor to slow growth in New York and in Delaware, among the slowest and the slowest states ranked at 47 and 50, respectively.
West Virginia, which led the nation in Real GDP growth for Q1 2019 at 5.2%, fell all the way to Rank 48. Utah, which grew at or above 3% for three straight quarters (3.2%), came in at Rank 2.