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Friday, September 30, 2022 Contact: Connie O’Connell, (301) 278-9003 Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2022 Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022, with the percent change in real GDP ranging from 1.8 percent in Texas to –4.8 percent in Wyoming. In the second quarter of 2022, as real GDP for the nation decreased at an annual rate of 0.6 percent, real GDP decreased in 8 of the 23 industry groups for which BEA prepares quarterly state estimates. Construction; nondurable-goods manufacturing; and wholesale trade were the leading contributors to the decrease in real GDP nationally. • The construction industry was the leading contributor to the decrease in Wyoming, the state with the largest decrease at 4.8 percent, and in 10 other states. • The mining industry was the leading contributor to the 1.8 percent increase in Texas, the state with the largest increase in real GDP. 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 and Personal Income by State, 3rd Quarter 2022,” will be released on December 23, 2022. Page 1 of 2 Personal income increased in all 50 states and the District of Columbia in the second quarter, with the percent change ranging from 10.9 percent in North Dakota to 2.2 percent in Connecticut. In the second quarter of 2022, state personal income increased at an annual rate of 5.8 percent across all 50 states and the District of Columbia. Increases in earnings and property income (dividends, interest, and rent) contributed to personal income growth in all states and the District of Columbia, while transfer receipts increased in 35 states. • In North Dakota and South Dakota, the states with the largest and second-largest increases in personal income, increases in earnings in farms was the leading contributor to the increase in personal income in the second quarter. • In Texas, the state with the third-largest increase in personal income, the increase in earnings in mining was the leading contributor. Page 2 of 2
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