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Friday, March 29, 2024 Contact: Connie O’Connell, 301-278-9003 Gross Domestic Product by State and Personal Income by State, Preliminary 2023 Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2023, with the percent change ranging from 5.9 percent in North Dakota to –1.2 percent in Delaware. In 2023, as real GDP for the nation grew at an annual rate of 2.5 percent, real GDP increased in 17 of the 23 industry groups for which BEA prepares preliminary annual state estimates. • • • Mining increased in 43 states. This industry was the leading contributor to growth in seven states including North Dakota, Texas, Wyoming, Alaska, and Oklahoma, the states with the first-, second-, third-, fourth-, and fifth-largest increases in real GDP, respectively. Retail trade increased in all 50 states and the District of Columbia. This industry was the leading contributor to growth in 23 states including Florida, the state with the seventh-largest increase in real GDP. Finance and insurance decreased in 43 states and the District of Columbia. This industry was the leading contributor to the decline in Delaware. BEA data—including gross domestic product, personal income, the balance of payments, foreign direct investment, the InputOutput Accounts, and economic data for states, local areas, and industries—are available at www.bea.gov. Email alerts are also available. Note. “Gross Domestic Product by State and Personal Income by State, 1st Quarter 2024” will be released on June 28, 2024. Page 1 of 2 Personal income, in current dollars, increased in all 50 states and the District of Columbia in 2023, with the percent change ranging from 7.0 percent in Florida to 3.4 percent in Indiana. In 2023, personal income for the nation increased at an annual rate of 5.2 percent. Nationally, increases in earnings, property income (dividends, interest, and rent), and transfer receipts contributed to the increase in personal income. • • • Earnings increased in 21 of the 24 industries for which BEA prepares annual estimates. In Florida, the state with the largest increase in personal income, growth in earnings in the professional, scientific, and technical services and in the health care and social assistance industries were the leading contributors to the increase in personal income. In Utah and Wyoming, the states with the second- and third-largest increases in personal income, growth in earnings in state and local government was the leading contributor to the increase in personal income. Page 2 of 2
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