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EMBARGOED UNTIL RELEASE AT 10:00 a.m. EDT, Friday, September 29, 2023 Technical: Media: Matthew von Kerczek Connie O’Connell 301-278-9250 301-278-9003 BEA 23–45 REIS@bea.gov Connie.OConnell@bea.gov Personal Income by State, 2nd Quarter 2023 Personal income, in current dollars, increased in 49 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 6.1 percent in New York and the District of Columbia to –2.7 percent in Maine (table 1), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Page 1 of 5 Nationally, personal income increased $239.7 billion dollars in the second quarter of 2023. Earnings, property income (dividends, interest, and rent), and transfer receipts all contributed to the increase (chart 1). Earnings increased in 48 states and the District of Columbia, while growing 5.3 percent nationally. The percent change in earnings ranged from 7.1 percent in Florida to –0.8 percent in North Dakota (table 2). Earnings was the leading contributor to growth in personal income in 44 states and the District of Columbia. Earnings increased in 20 of the 24 industries for which BEA prepares quarterly estimates (table 3). Professional, scientific, and technical services; health care and social assistance; and finance and insurance were the leading contributors to the overall growth in earnings nationally. • Finance and insurance was the leading contributor to the increase in earnings in three states, including New York, the state with the largest percent increase in personal income. • Health care and social assistance was the leading contributor to the increase in earnings in 14 states, including Kentucky, the state with the second-largest percent increase in personal income. • Professional, scientific, and technical services was the leading contributor to the increase in earnings in the District of Columbia and 18 states, including Massachusetts, the state with the third-largest percent increase in personal income. Page 2 of 5 Property income increased in all 50 states and the District of Columbia, while growing 3.7 percent nationally. The percent change in property income ranged from 5.2 percent in Texas to 2.6 percent in Iowa. Property income was the leading contributor to growth in personal income in five states (table 2). Transfer receipts increased in 38 states and the District of Columbia, while growing 1.7 percent nationally. Increases in Medicaid benefits were partially offset by decreases in all other transfer receipts. The percent change in transfer receipts ranged from 12.1 percent in New York to –23.0 percent in Maine (table 2). Medicaid benefits contributed to personal income growth in 46 states and the District of Columbia, including New York, Kentucky, and Massachusetts, the three fastest-growing states for personal income. Transfer receipts was the leading contributor to the decrease in personal income in Maine, where onetime state refundable tax credits were paid in the first quarter of 2023. Annual update of state statistics The estimates for the second quarter of 2023 incorporate the results of BEA’s comprehensive update of personal income by state that was also released today. The annual estimates of personal income by state from 1979 to 2022 and the quarterly estimates of personal income by state from the first quarter of 1979 through the first quarter of 2023 were revised. The annual estimates of GDP by state from 2017 to 2022 were also revised. These updates incorporate new and revised source data that are more complete and more detailed than previously available, updates to seasonal factors, and the results of the September 28, 2023, comprehensive update of the National Economic Accounts. Our online journal, the Survey of Current Business, will publish an article in November describing the results. BEA also released new estimates of per capita personal income for the second quarter of 2023. BEA used U.S. Census Bureau (Census) population figures to calculate per capita personal income estimates for the first quarter of 2020 through the second quarter of 2023. For earlier estimates, BEA used intercensal population statistics that it developed based on Census methodology. See “Note on Per Capita Personal Income and Population.” GDP by state statistics for the second quarter of 2023 will be released later this fall; BEA will send out an advisory with the date and time when this information becomes available. Next release: December 22, 2023, at 10:00 a.m. EST Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2023 Page 3 of 5 Additional Information Resources • • • • • • • Stay informed about BEA developments by reading The BEA Wire, signing up for BEA’s email subscription service, or following @BEA_News on X, formerly known as Twitter. Historical time series for these estimates can be accessed in BEA’s Interactive Data Application. Access BEA data by registering for BEA’s Data Application Programming Interface. For more on BEA’s statistics, see our online journal, the Survey of Current Business. For upcoming economic indicators, see BEA’s news release schedule. BEA Regional Facts (BEARFACTS) is a narrative summary of personal income, per capita personal income, components of income, and gross domestic product for counties, metropolitan statistical areas, and states. For complete information on the sources and methods used to estimate gross domestic product and personal income by state, see BEA’s gross domestic product by state and state personal income and employment methodologies. Definitions Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. GDP by state is the state counterpart of the nation’s GDP, the Bureau’s featured and most comprehensive measure of U.S. economic activity. Current-dollar statistics are valued in the prices of the period when the transactions occurred—that is, at “market value.” They are also referred to as “nominal GDP” or “current-price GDP.” Real values are inflation-adjusted statistics—that is, these exclude the effects of price changes. Contributions to growth are an industry’s contribution to the state’s overall percent change in real GDP. The contributions are additive and can be summed to the state’s overall percent change. Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses. Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes). State personal income differs slightly from the estimate of U.S. personal income in the National Income and Product Accounts because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data. In BEA’s state statistics, estimates of personal income for the United States is the sum of the state estimates and the estimate for the District of Columbia. Per capita personal income is calculated as the total personal income of the residents of a state divided by the population of the state. In computing per capita personal income, BEA uses mid-quarter population estimates based on unpublished U.S. Census Bureau data. Earnings by place of work is the sum of wages and salaries, supplements to wages and salaries, and proprietors’ income. BEA’s industry estimates are presented on an earnings by place-of-work basis. Net earnings by place of residence is earnings by place of work less contributions for government social insurance plus an adjustment to convert earnings by place of work to a place-of-residence basis. BEA presents net earnings on an all-industry level. Property income is rental income of persons, personal dividend income, and personal interest income. Personal current transfer receipts are benefits received by persons from federal, state, and local governments and from businesses for which no current services are performed. They include retirement and disability insurance benefits (mainly social security), medical benefits (mainly Medicare and Medicaid), income maintenance benefits, unemployment insurance compensation, veterans’ benefits, and federal education and training assistance. Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes). Statistical conventions Quarter-to-quarter percent changes are calculated from unrounded data and are annualized. Annualized growth Page 4 of 5 rates show the rate of change that would have occurred had the pattern been repeated over four quarters (1 year). Annualized rates of change can be calculated as follows: (((level of later quarter / level of earlier quarter)^4)-1)*100. Quarterly estimates are expressed at seasonally adjusted annual rates unless otherwise specified. Quarter-to-quarter dollar changes are differences between published estimates. Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia) Southwest (Arizona, New Mexico, Oklahoma, and Texas) Rocky Mountain (Colorado, Idaho, Montana, Utah, and Wyoming) Far West (Alaska, California, Hawaii, Nevada, Oregon, and Washington) Seasonal adjustment and annual rates. Quarterly values are expressed at seasonally adjusted annual rates. For details, see the FAQ “Why does BEA publish estimates at annual rates?” on the BEA website. Uses of GDP and personal income by state statistics BEA regions BEA groups all 50 states and the District of Columbia into 8 distinct regions for purposes of presentation and analysis as follows: GDP and personal income by state statistics provide a framework for analyzing current economic conditions in each state and can serve as a basis for decision-making. For example: New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) Mideast (Delaware, District of Columbia, Maryland, New Jersey, New York, and Pennsylvania) Great Lakes (Illinois, Indiana, Michigan, Ohio, and Wisconsin) Plains (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota) • • • • Federal government agencies use the statistics in forecasting models to project energy and water use. The statistics are also used as a basis for allocating funds and determining matching grants to states. State governments use the statistics to project tax revenues and the need for public services. Academic regional economists use the statistics for applied research. Businesses, trade associations, and labor organizations use the statistics for market research. News release tables Table 1. Personal Income, by State and Region, 2022:Q1–2023:Q2 Table 2. Personal Income Change by Component, by State and Region, 2023:Q1–2023:Q2 Table 3. Contributions of Earnings by Industry to Percent Change in Personal Income, by State and Region, 2023:Q1–2023:Q2 Table 4. Gross Domestic Product by State and Region: Level and Percent Change From Preceding Period Page 5 of 5 FRIDAY, September 29, 2023 Table 1. Personal Income, by State and Region, 2022:Q1–2023:Q2 r Q1 21,395,331 1,166,359 296,805 81,825 578,719 101,055 68,055 39,900 3,541,423 62,210 63,079 424,134 703,783 1,467,916 820,301 2,819,058 837,904 392,837 564,364 667,378 356,575 1,332,663 188,840 174,643 384,268 347,739 123,348 53,183 60,641 4,985,887 252,388 156,175 1,397,659 602,637 231,823 246,302 134,489 613,327 275,651 403,544 584,443 87,447 2,573,112 418,661 107,031 221,623 1,825,798 841,009 431,079 106,221 67,044 194,938 41,728 4,135,820 49,140 2,969,021 86,800 193,402 261,747 575,708 Millions of dollars, seasonally adjusted at annual rate 2022 2023 r r r r p Q2 Q3 Q4 Q1 Q2 21,640,434 21,995,492 22,249,735 22,618,087 22,857,767 1,176,415 1,192,271 1,219,068 1,228,351 1,241,176 314,866 312,028 305,882 297,263 303,053 85,423 87,566 86,962 83,496 85,059 582,860 589,268 610,754 607,474 615,857 106,861 108,045 104,979 102,684 103,769 69,592 70,171 70,238 71,875 72,612 42,547 42,834 41,791 40,519 40,951 3,574,088 3,621,249 3,652,774 3,716,669 3,766,289 66,989 66,482 66,419 63,805 65,193 63,864 65,008 65,940 67,189 68,194 456,132 450,730 440,746 429,787 437,067 710,656 720,234 725,287 736,829 746,696 1,473,485 1,489,322 1,504,486 1,525,189 1,547,872 870,251 880,406 849,896 832,490 844,426 2,846,782 2,881,915 2,906,522 2,950,976 2,980,980 878,784 888,769 865,530 845,526 856,012 395,494 399,828 405,932 406,853 411,205 570,816 575,824 578,297 591,759 596,263 675,663 684,198 689,693 701,100 709,213 359,283 366,053 367,070 372,481 375,529 1,352,912 1,380,851 1,390,818 1,417,158 1,428,768 191,590 195,247 195,292 198,686 199,227 175,242 179,169 180,844 184,336 186,591 390,676 398,583 400,749 406,153 410,102 361,542 365,557 374,139 377,390 353,940 125,013 127,892 129,640 132,532 133,889 54,631 55,716 55,784 57,242 57,350 61,819 62,700 62,953 64,071 64,220 5,056,533 5,148,432 5,218,445 5,324,205 5,373,899 255,729 260,859 264,473 269,221 270,754 157,567 162,283 164,991 166,922 167,108 1,426,530 1,459,748 1,482,459 1,523,652 1,541,114 615,478 622,615 629,482 634,052 639,358 235,239 236,419 242,233 245,651 233,646 249,402 251,630 253,349 258,788 261,208 135,178 137,343 138,311 139,978 140,773 614,698 624,465 634,332 647,869 653,283 280,168 285,390 291,774 298,389 299,423 407,532 413,683 419,381 429,199 433,637 592,251 606,084 613,389 622,101 628,996 88,355 89,093 90,084 91,800 92,596 2,621,719 2,678,289 2,711,336 2,764,284 2,790,549 434,287 441,259 449,109 454,261 426,127 109,579 112,704 111,898 113,387 114,228 224,642 228,626 230,342 234,438 235,405 1,861,370 1,902,672 1,927,838 1,967,350 1,986,655 853,869 879,071 882,301 896,776 905,227 436,241 452,825 448,707 456,187 460,632 108,759 111,239 112,885 114,646 115,153 67,981 68,965 69,917 71,624 72,329 198,786 203,206 207,118 209,519 211,827 42,102 42,836 43,674 44,800 45,286 4,158,116 4,213,414 4,268,471 4,319,668 4,370,880 50,838 51,310 51,225 51,779 50,110 2,979,888 3,018,949 3,058,730 3,088,500 3,124,463 89,292 92,070 91,868 92,568 87,731 196,145 198,487 201,131 203,387 205,945 262,952 265,103 266,894 273,484 277,186 581,291 590,745 598,336 611,204 618,938 Seasonally adjusted at annual rate Percent change from preceding quarter1 2022:Q2 4.7 United States 3.5 New England 0.6 Connecticut 8.4 Maine 2.9 Massachusetts 6.6 New Hampshire 9.3 Rhode Island 6.3 Vermont 3.7 Mideast 10.7 Delaware 5.1 District of Columbia 5.4 Maryland 4.0 New Jersey 1.5 New York 6.1 Pennsylvania 4.0 Great Lakes 3.7 Illinois 2.7 Indiana 4.7 Michigan 5.1 Ohio 3.1 Wisconsin 6.2 Plains 6.0 Iowa 1.4 Kansas 6.8 Minnesota 7.3 Missouri 5.5 Nebraska 11.3 North Dakota 8.0 South Dakota 5.8 Southeast 5.4 Alabama 3.6 Arkansas 8.5 Florida 8.8 Georgia 3.2 Kentucky 5.1 Louisiana 2.1 Mississippi 0.9 North Carolina 6.7 South Carolina 4.0 Tennessee 5.5 Virginia 4.2 West Virginia 7.8 Southwest 7.3 Arizona 9.9 New Mexico 5.6 Oklahoma 8.0 Texas 6.3 Rocky Mountain 4.9 Colorado 9.9 Idaho 5.7 Montana 8.1 Utah 3.6 Wyoming 2.2 Far West 8.1 Alaska 1.5 California 4.4 Hawaii 5.8 Nevada 1.9 Oregon 3.9 Washington r Revised p Preliminary 1. Quarterly percent changes shown are annualized—that is, they are a percent change from the preceding period at annual rates. Note. Estimates may not add to totals because of rounding. U.S. Bureau of Economic Analysis 2022:Q3 6.7 5.5 8.0 7.7 4.5 4.3 3.4 4.3 5.4 9.0 7.4 6.9 5.5 4.4 5.9 5.0 5.1 4.5 3.6 5.1 7.8 8.5 7.9 9.3 8.3 8.9 9.5 8.2 5.8 7.5 8.3 12.5 9.6 4.7 2.8 3.6 6.6 6.5 7.7 6.2 9.7 3.4 8.9 7.9 11.9 7.3 9.2 12.3 16.1 9.4 5.9 9.2 7.2 5.4 5.9 5.3 7.3 4.9 3.3 6.7 2022:Q4 4.7 9.3 3.8 1.7 15.4 4.7 0.4 8.5 3.5 7.7 5.9 3.4 2.8 4.1 2.6 3.5 4.5 6.2 1.7 3.3 1.1 2.9 0.1 3.8 2.2 4.5 5.6 0.5 1.6 5.6 5.7 6.8 6.4 4.5 2.0 2.8 2.8 6.5 9.3 5.6 4.9 4.5 5.0 6.6 -2.8 3.0 5.4 1.5 -3.6 6.0 5.6 7.9 8.1 5.3 3.8 5.4 13.0 5.4 2.7 5.2 2023:Q1 6.8 3.1 8.3 10.4 -2.1 7.4 9.6 7.4 7.2 0.4 7.8 9.4 6.5 5.6 9.9 6.3 6.3 0.9 9.6 6.8 6.0 7.8 7.1 7.9 5.5 9.7 9.2 10.9 7.3 8.4 7.4 4.8 11.6 2.9 10.2 8.9 4.9 8.8 9.4 9.7 5.8 7.8 8.0 7.3 5.4 7.3 8.5 6.7 6.8 6.4 10.1 4.7 10.7 4.9 -0.7 4.0 -0.9 4.6 10.2 8.9 2023:Q2 4.3 4.2 3.7 -2.7 5.6 4.5 4.2 2.7 5.4 3.1 6.1 4.9 5.5 6.1 4.7 4.1 4.6 4.3 3.1 4.7 3.3 3.3 1.1 5.0 3.9 3.5 4.2 0.8 0.9 3.8 2.3 0.4 4.7 3.4 5.8 3.8 2.3 3.4 1.4 4.2 4.5 3.5 3.9 4.7 3.0 1.7 4.0 3.8 4.0 1.8 4.0 4.5 4.4 4.8 4.4 4.7 3.1 5.1 5.5 5.2 Rank 2023:Q1–2023:Q2 --30 50 3 16 23 40 -36 -9 5 1 10 -15 21 38 12 35 -46 8 28 31 24 48 47 -41 49 14 33 2 29 42 34 45 22 17 32 -13 39 44 26 -27 43 25 18 19 -20 11 37 7 4 6 FRIDAY, September 29, 2023 Table 2. Personal Income Change by Component, by State and Region, 2023:Q1–2023:Q2 Percent change Personal income Net earnings2 Contribution to percent change in personal income (percentage points) 1 Dividends, interest, and rent Transfer receipts Percent change in personal Dividends, income Net earnings2 interest, and rent Transfer receipts Dollar change (millions) Personal income 4.3 5.3 3.7 1.7 4.3 3.3 0.7 0.3 239,679 United States 4.2 5.8 3.1 -0.4 4.2 3.7 0.6 -0.1 12,825 New England 2.7 0.6 0.4 2,838 3.7 2.9 3.7 4.1 2.8 Connecticut -23.0 -2.7 2.7 0.6 -6.1 -605 -2.7 4.9 3.5 Maine 5.6 7.0 3.2 2.7 5.6 4.6 0.6 0.4 8,384 Massachusetts 4.5 3.2 1.4 3.8 0.5 0.2 1,185 5.6 4.5 New Hampshire 4.2 5.4 3.5 1.1 4.2 3.3 0.6 0.2 737 Rhode Island 0.7 0.7 286 2.7 2.4 3.2 3.2 2.7 1.4 Vermont 3.2 5.4 5.6 7.1 5.4 3.6 0.6 1.3 49,619 Mideast 3.1 2.7 3.3 3.9 3.1 1.6 0.6 0.9 507 Delaware 6.1 6.6 3.3 7.7 6.1 4.4 0.6 1.1 1,005 District of Columbia 0.5 0.4 5,402 4.9 6.0 2.8 2.5 4.9 4.0 Maryland 9,867 0.5 0.4 5.5 6.8 3.1 2.5 5.5 4.5 New Jersey 6.1 5.3 3.0 12.1 6.1 3.3 0.6 2.2 22,684 New York 0.7 1.0 10,154 4.7 5.1 3.7 4.6 4.7 3.1 Pennsylvania 0.4 0.6 30,003 4.1 5.2 3.1 1.9 4.1 3.2 Great Lakes 6.0 4.8 2.9 4.6 3.0 0.6 1.0 9,985 4.6 Illinois 4.0 4.3 3.2 6.3 4.3 2.6 0.5 1.3 4,352 Indiana 3.1 6.4 3.0 -5.5 3.1 3.8 0.6 -1.2 4,505 Michigan 4.7 5.8 3.3 2.6 4.7 3.6 0.6 0.5 8,113 Ohio 0.6 0.1 3,048 4.2 3.3 0.6 3.3 2.6 3.3 Wisconsin 0.7 0.6 11,610 3.3 3.3 3.3 3.5 3.3 2.0 Plains 1.1 0.6 2.6 1.4 1.1 0.4 0.5 0.3 542 Iowa 0.6 0.7 2,255 5.0 5.9 2.9 4.1 5.0 3.7 Kansas 0.7 0.5 3,949 3.9 4.4 3.4 3.1 3.9 2.7 Minnesota 3.5 2.5 3.5 6.6 3.5 1.5 0.7 1.4 3,251 Missouri 4.2 5.4 3.6 0.4 4.2 3.3 0.8 0.1 1,357 Nebraska 1.0 0.2 108 -0.8 4.5 1.5 0.8 -0.5 0.8 North Dakota 0.8 -0.5 148 0.9 1.1 3.5 -3.2 0.9 0.6 South Dakota 3.8 5.1 3.8 -0.1 3.8 3.0 0.8 0.0 49,694 Southeast 2.3 2.8 3.3 0.3 2.3 1.6 0.6 0.1 1,533 Alabama -0.2 3.2 -0.6 0.4 -0.1 0.7 -0.1 186 0.4 Arkansas -0.3 17,462 1.2 4.7 7.1 4.4 -1.3 4.7 3.7 Florida 3.4 3.6 3.8 2.1 3.4 2.3 0.7 0.4 5,306 Georgia 5.8 5.9 2.8 7.4 5.8 3.4 0.5 1.9 3,418 Kentucky 0.5 0.6 2,420 3.8 4.6 2.5 3.8 2.7 Louisiana 3.0 0.5 0.8 794 2.3 1.7 3.1 2.3 1.0 Mississippi 2.9 3.4 4.8 3.6 -1.0 3.4 2.9 0.7 -0.2 5,414 North Carolina 1.4 5.8 4.0 -10.7 1.4 3.2 0.8 -2.6 1,034 South Carolina 0.2 4,438 4.2 5.2 4.3 0.9 4.2 3.4 0.6 Tennessee 4.5 5.7 3.1 1.7 4.5 3.6 0.6 0.3 6,894 Virginia 2.3 0.7 0.5 796 3.5 4.3 4.4 1.7 3.5 West Virginia 4.9 4.9 -0.8 3.9 3.0 1.0 -0.2 26,265 3.9 Southwest 4.7 5.3 4.5 3.0 4.7 3.1 0.9 0.6 5,151 Arizona 3.0 4.7 3.3 -0.7 3.0 2.6 0.6 -0.2 841 New Mexico 1.7 0.6 4.0 2.6 1.7 0.4 0.8 0.6 967 Oklahoma 4.0 5.3 5.2 -2.6 4.0 3.4 1.0 -0.4 19,305 Texas 3.8 4.2 4.5 0.9 3.8 2.6 1.1 0.1 8,451 Rocky Mountain 3.8 4.6 3.5 4.0 2.4 1.1 4.0 0.5 4,445 Colorado 1.8 3.6 4.9 -7.3 1.8 2.1 1.1 -1.4 507 Idaho 4.0 4.0 4.3 3.5 4.0 2.2 1.2 0.7 705 Montana 4.5 5.1 4.5 1.2 4.5 3.3 1.0 0.2 2,308 Utah 4.4 7.0 3.7 -2.1 4.4 3.5 1.3 -0.3 487 Wyoming 4.8 6.1 3.5 1.4 4.8 3.9 0.7 0.2 51,211 Far West 4.4 5.4 2.8 2.7 4.4 3.4 0.5 0.5 555 Alaska 4.7 6.0 3.4 1.1 4.7 3.9 0.7 0.2 35,963 California 3.1 4.7 3.3 -2.3 3.1 2.8 0.7 -0.4 700 Hawaii 5.1 7.0 4.3 0.1 5.1 4.1 1.0 0.0 2,558 Nevada 5.5 6.2 3.3 5.5 5.5 3.7 0.6 1.1 3,702 Oregon 5.2 6.5 3.5 1.5 5.2 4.2 0.7 0.2 7,734 Washington 1. Quarterly percent changes shown are annualized—that is, they are a percent change from the preceding period at annual rates. 2. Net earnings is earnings by place of work—the sum of wages and salaries, supplements to wages and salaries, and proprietors' income—less contributions for government social insurance plus an adjustment to convert earnings by place of work to a place-of-residence basis. Note. Estimates may not add to totals because of rounding. U.S. Bureau of Economic Analysis Dividends, interest, and Net earnings rent 2 181,082 11,234 2,079 603 6,837 988 582 145 32,681 263 722 4,382 8,194 12,491 6,629 23,119 6,551 2,588 5,502 6,124 2,354 7,033 187 1,670 2,716 1,341 1,085 -69 103 39,190 1,092 -51 13,795 3,585 2,038 1,692 341 4,685 2,393 3,569 5,534 517 20,746 3,447 721 204 16,374 5,802 2,730 592 383 1,712 384 41,276 424 29,376 644 2,030 2,508 6,294 40,853 1,807 425 138 922 139 113 70 5,346 99 99 572 975 2,144 1,457 4,245 1,300 509 805 1,051 579 2,377 229 256 702 662 253 145 130 10,669 390 295 4,669 1,114 277 344 163 1,052 590 682 925 168 6,561 992 171 439 4,959 2,356 1,185 318 203 510 139 7,492 66 5,224 155 519 428 1,100 Transfer receipts 17,744 -216 334 -1,347 625 58 41 72 11,592 145 183 448 699 8,048 2,069 2,640 2,134 1,255 -1,802 938 114 2,200 126 328 531 1,249 19 32 -84 -165 51 -59 -1,002 606 1,102 384 291 -323 -1,949 186 435 111 -1,042 713 -51 324 -2,028 293 529 -403 118 85 -37 2,443 64 1,363 -98 8 766 340 FRIDAY, September 29, 2023 Table 3. Contributions of Earnings by Industry to Percent Change in Personal Income, by State and Region, 2023:Q1–2023:Q2—Continues Total earnings 1 Farm Forestry, fishing, and related activities Mining, quarrying, and oil and gas extraction [Percentage points, seasonally adjusted] Manufacturing Utilities Construction Durable goods Nondurable goods Wholesale trade Retail trade Transportation and warehousing Information United States 3.65 -0.23 0.03 -0.08 0.03 0.27 0.32 -0.02 0.20 0.02 0.16 0.00 New England 3.93 -0.03 0.04 -0.01 0.07 0.32 0.34 -0.06 0.25 -0.05 0.07 0.02 Connecticut 2.29 -0.01 0.01 0.00 0.03 -0.04 0.32 -0.13 0.25 0.02 0.11 0.09 Maine 2.90 -0.06 0.19 0.00 0.02 0.41 0.37 -0.11 0.16 -0.06 -0.07 -0.03 Massachusetts 5.26 0.01 0.03 -0.02 0.11 0.49 0.34 -0.03 0.25 -0.06 0.09 0.01 0.51 -0.03 0.54 -0.07 0.03 -0.04 0.46 0.02 0.00 New Hampshire 3.56 -0.05 0.04 0.18 0.11 -0.11 -0.05 -0.01 0.04 0.00 Rhode Island 3.23 0.00 0.02 0.26 0.01 0.04 0.17 0.27 -0.06 -0.05 -0.09 0.01 -0.03 -0.01 Vermont 1.40 -0.64 0.05 -0.04 0.03 0.21 0.19 -0.02 0.20 0.04 0.11 -0.09 Mideast 4.11 -0.16 0.01 -0.03 0.04 0.21 -0.01 0.14 -0.06 -0.07 -0.09 -0.02 Delaware 2.00 -1.61 -0.04 District of Columbia 10.86 -0.01 0.07 0.12 0.00 0.00 0.04 0.02 -0.21 -0.12 0.00 0.00 Maryland 4.05 -0.25 0.00 0.00 -0.19 0.45 0.19 -0.07 0.17 0.03 0.07 0.02 New Jersey 4.54 0.01 0.00 -0.03 0.03 0.33 0.19 -0.10 0.49 0.03 0.18 0.00 New York 4.16 -0.12 0.00 -0.06 0.09 0.08 0.12 0.01 0.08 0.03 0.08 -0.23 Pennsylvania 3.34 -0.25 0.03 -0.04 0.03 0.22 0.33 0.01 0.21 0.06 0.17 0.02 Great Lakes 3.60 -0.51 0.01 0.00 0.04 0.24 0.56 0.03 0.28 -0.03 0.18 -0.07 Illinois 3.42 -0.43 0.02 -0.02 0.05 0.28 0.40 -0.07 0.20 -0.04 0.16 -0.08 0.61 0.06 0.31 Indiana 2.85 -0.87 0.01 0.01 0.03 0.00 -0.01 0.09 0.00 Michigan 0.05 0.78 0.09 4.26 -0.28 -0.01 0.01 0.06 0.37 0.02 0.18 -0.09 Ohio 0.41 4.06 -0.34 0.03 0.00 0.03 0.64 0.06 0.18 -0.05 0.30 -0.07 Wisconsin -0.12 2.90 -1.01 0.01 0.00 0.02 0.37 0.37 0.05 0.44 -0.04 0.14 0.22 -0.01 0.15 -0.01 0.39 -0.12 0.05 Plains 2.33 -0.49 0.03 -0.07 0.05 0.41 0.38 -0.33 -0.02 -0.02 0.04 Iowa 0.06 0.47 -1.14 0.04 0.01 0.01 -0.15 0.25 0.01 0.18 0.00 Kansas 3.99 1.14 0.08 -0.11 0.03 0.23 0.03 Minnesota 3.18 -0.75 0.02 0.01 0.06 0.23 0.52 -0.15 0.02 0.01 0.20 0.00 Missouri 1.70 -0.58 0.01 -0.26 0.05 -0.14 0.42 -0.02 0.31 -0.02 0.11 -0.04 Nebraska 3.73 0.99 -0.01 -0.01 -0.04 0.09 -0.12 0.23 -0.14 0.42 -0.06 0.29 -0.02 0.25 0.12 -0.12 -0.01 -0.08 0.12 -2.89 0.11 0.33 0.12 North Dakota 0.05 -0.01 0.31 -0.28 0.14 0.01 0.08 -1.77 -0.01 -0.02 0.03 0.76 South Dakota 0.95 Southeast 3.35 -0.49 0.01 0.01 0.03 0.24 0.31 -0.01 0.22 0.03 0.13 -0.02 Alabama 1.93 -1.43 0.01 0.01 0.09 0.21 0.73 -0.25 0.07 0.06 0.17 -0.01 Arkansas 0.32 -3.30 0.01 0.00 0.05 0.18 0.33 0.19 0.27 -0.04 0.08 -0.09 Florida 4.10 0.03 0.00 0.00 -0.01 0.22 0.20 -0.01 0.29 0.06 0.19 -0.01 0.01 0.16 0.08 0.06 -0.04 Georgia 0.32 0.24 2.58 -0.76 0.00 0.01 0.05 0.02 0.57 0.33 0.23 0.23 0.04 0.39 -0.36 0.02 0.04 0.03 Kentucky 4.06 0.26 0.23 -0.15 0.18 0.05 0.02 -0.06 Louisiana 3.01 -0.27 0.01 0.09 0.03 Mississippi 1.11 -1.95 0.05 -0.01 0.07 0.37 0.40 -0.11 0.09 -0.11 0.11 -0.02 North Carolina 3.38 -0.72 0.01 0.01 0.06 0.15 0.30 0.01 0.32 0.08 0.15 -0.12 South Carolina 3.54 -0.34 0.03 0.01 0.08 0.10 0.55 0.00 0.18 0.02 0.16 0.05 Tennessee 3.79 0.00 0.00 -0.08 0.02 0.33 0.45 -0.04 0.13 -0.05 -0.03 -0.15 0.09 0.19 0.26 -0.02 0.12 -0.03 0.12 -0.22 0.01 0.00 0.02 Virginia 3.82 0.04 0.21 0.06 0.28 -0.01 0.00 0.03 -0.07 0.05 0.07 West Virginia 2.33 -0.20 Southwest 3.46 -0.06 0.00 -0.44 0.06 0.24 0.33 -0.04 0.27 0.06 0.22 0.00 Arizona 3.42 0.01 0.04 0.05 0.05 0.38 0.29 -0.03 0.14 0.05 0.09 -0.12 New Mexico 2.93 -0.43 0.00 0.50 0.03 0.43 0.10 0.05 0.02 -0.07 0.14 -0.05 Oklahoma 0.46 0.13 0.03 -1.87 0.04 0.29 0.25 -0.06 0.03 -0.05 0.33 -0.03 0.03 Texas 0.20 0.36 -0.05 0.34 0.08 0.25 3.86 -0.07 -0.01 -0.43 0.07 -0.06 0.45 0.27 -0.02 0.03 -0.07 0.09 -0.08 0.01 -0.54 0.05 Rocky Mountain 2.95 0.50 0.25 -0.10 0.01 -0.03 0.11 -0.11 Colorado 2.75 0.11 0.02 -1.15 0.03 Idaho 2.35 -1.10 0.04 0.04 0.03 0.56 0.22 -0.04 0.12 -0.18 0.08 -0.02 Montana 2.41 0.09 -0.04 -0.08 0.03 0.12 0.13 0.05 0.17 -0.12 0.16 -0.04 Utah 3.70 -0.09 -0.01 0.02 0.12 0.39 0.42 0.13 -0.01 -0.10 -0.02 -0.01 Wyoming 3.92 0.01 0.74 0.00 0.12 0.45 -0.05 -0.07 0.42 0.55 0.07 0.00 Far West 4.30 0.13 0.09 0.01 -0.01 0.40 0.24 0.02 0.10 0.04 0.21 0.15 0.10 0.04 0.08 -0.03 Alaska 3.75 0.01 0.27 0.59 0.02 0.22 0.02 0.01 0.16 0.11 0.00 -0.02 0.40 0.32 0.03 0.10 0.06 0.25 0.03 California 4.26 Hawaii 3.13 0.11 0.04 0.00 0.05 0.24 0.02 0.03 0.06 0.03 0.08 -0.03 -0.01 0.33 0.03 0.18 -0.08 Nevada 4.58 0.02 0.01 0.08 0.06 0.22 0.27 4.42 0.09 0.12 0.01 0.02 0.76 0.20 0.03 -0.09 -0.09 0.10 0.05 Oregon Washington 4.59 0.03 -0.02 0.00 0.01 0.33 -0.15 -0.04 0.11 -0.02 0.13 0.93 1. An industry's annualized contribution to percent change in personal income equals the dollar change in that industry's earnings divided by the dollar change in personal income then multiplied by personal income growth. U.S. Bureau of Economic Analysis Finance and insurance 0.38 0.50 0.55 0.27 0.55 0.37 0.50 0.18 0.60 0.99 0.42 0.22 0.38 0.94 0.39 0.39 0.54 0.38 0.25 0.35 0.36 0.34 0.45 0.40 0.30 0.31 0.32 0.28 0.40 0.35 0.26 0.20 0.34 0.44 0.14 0.30 0.24 0.44 0.38 0.30 0.42 0.14 0.43 0.22 0.15 0.22 0.52 0.21 0.18 0.21 0.13 0.33 0.08 0.19 0.12 0.17 0.16 0.20 0.21 0.32 FRIDAY, September 29, 2023 Table 3. Contributions of Earnings by Industry to Percent Change in Personal Income, by State and Region, 2023:Q1–2023:Q2—Table Ends [Percentage points, seasonally adjusted] Professional, Administrative and Real estate and Management of support and waste scientific, and companies and rental and management and technical enterprises leasing remediation services services United States New England Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont Mideast Delaware District of Columbia Maryland New Jersey New York Pennsylvania Great Lakes Illinois Indiana Michigan Ohio Wisconsin Plains Iowa Kansas Minnesota Missouri Nebraska North Dakota South Dakota Southeast Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina Tennessee Virginia West Virginia Southwest Arizona New Mexico Oklahoma Texas Rocky Mountain Colorado Idaho Montana Utah Wyoming Far West Alaska California Hawaii Nevada Oregon Washington U.S. Bureau of Economic Analysis 0.04 0.01 -0.02 0.02 0.01 0.03 0.02 0.04 0.03 0.14 0.20 0.02 -0.01 0.03 0.04 0.04 0.08 0.07 0.10 -0.07 0.03 -0.01 0.01 0.02 -0.01 -0.04 -0.01 0.04 0.03 0.05 0.03 0.02 0.11 0.03 0.02 0.10 0.00 0.01 0.01 0.02 0.04 0.00 0.06 0.12 0.02 0.00 0.05 0.04 0.03 -0.03 -0.02 0.12 -0.02 0.04 0.09 0.03 -0.02 0.06 0.11 0.03 0.75 0.99 0.70 0.32 1.43 0.52 0.47 0.31 0.93 0.48 3.55 1.44 0.90 0.77 0.78 0.59 0.75 0.31 0.75 0.48 0.46 0.41 0.23 0.35 0.45 0.54 0.38 0.38 0.21 0.70 0.41 0.45 0.80 0.56 0.59 0.53 0.28 0.81 0.45 0.69 1.06 0.35 0.67 0.42 0.45 0.39 0.78 0.93 1.22 0.62 0.66 0.72 0.22 0.82 0.40 0.86 0.52 0.67 0.64 0.82 0.17 0.21 -0.10 0.26 0.36 0.30 0.20 0.07 0.10 0.60 0.15 0.12 0.35 0.20 -0.33 0.11 -0.05 0.17 0.22 0.09 0.33 0.06 -0.53 0.29 0.52 -0.19 -0.13 0.15 0.12 0.21 -0.12 0.40 0.19 0.33 0.13 0.12 0.11 0.21 0.12 0.26 0.38 0.11 0.13 0.13 0.05 -0.61 0.22 0.17 0.21 0.17 0.03 0.17 0.12 0.24 0.08 0.16 0.13 0.29 0.42 0.60 0.07 -0.11 -0.66 0.18 0.05 0.28 -0.01 0.00 0.07 0.12 -0.18 -0.08 0.17 0.05 0.12 0.19 0.08 0.22 0.21 0.24 0.24 0.03 -0.04 0.01 0.12 0.00 -0.01 0.00 0.00 0.09 0.15 -0.11 0.23 -0.11 0.05 0.19 0.06 0.09 0.12 0.00 0.02 0.00 0.13 0.03 0.00 -0.15 0.19 -0.10 -0.15 -0.12 -0.11 0.00 -0.07 0.03 -0.06 0.03 0.15 0.36 0.13 -0.14 Educational services 0.01 -0.02 -0.09 0.06 0.01 -0.01 -0.13 0.06 0.04 -0.05 0.10 0.02 0.07 0.10 -0.10 -0.03 -0.06 0.01 -0.05 0.00 -0.01 0.04 -0.04 -0.05 0.14 0.04 0.01 0.02 -0.02 0.01 -0.03 0.01 0.00 -0.07 0.00 -0.01 -0.02 0.06 -0.06 0.10 0.08 0.01 0.00 0.02 0.06 -0.03 0.00 0.06 0.03 0.08 0.07 0.12 -0.01 0.01 0.01 -0.01 0.12 -0.01 0.02 0.06 Other services Health care and Arts, entertainAccommodation (except government social ment, and and food services and government assistance recreation enterprises) 0.63 0.66 0.51 0.62 0.82 0.36 0.67 0.32 0.74 0.85 0.52 0.46 0.75 0.79 0.78 0.63 0.51 0.61 0.71 0.77 0.50 0.52 0.42 0.59 0.70 0.34 0.69 0.51 0.33 0.62 0.63 0.70 0.67 0.26 0.73 0.73 0.69 0.63 0.66 0.96 0.48 0.34 0.54 0.49 0.43 0.46 0.56 0.37 0.22 0.79 0.43 0.46 0.33 0.70 0.58 0.71 0.26 0.61 0.70 0.73 0.05 0.04 0.16 -0.06 0.01 -0.01 0.00 0.10 0.11 0.12 0.00 -0.04 0.09 0.17 0.12 0.10 0.06 0.00 0.10 0.20 0.10 0.02 0.02 -0.05 -0.01 0.08 0.04 0.05 -0.01 0.00 -0.01 0.12 -0.01 -0.01 0.04 -0.06 0.03 0.07 0.02 -0.06 -0.02 0.03 -0.02 -0.05 -0.01 0.05 -0.02 0.16 0.29 -0.01 0.14 -0.01 0.05 0.06 0.12 0.06 0.03 0.30 0.02 -0.01 0.20 0.22 0.15 0.07 0.30 0.07 0.26 0.09 0.26 0.06 0.64 0.19 0.30 0.26 0.24 0.15 0.14 0.23 0.04 0.20 0.15 0.19 0.15 0.14 0.18 0.29 0.14 0.19 0.05 0.22 0.23 0.34 0.28 0.24 0.21 0.09 0.17 0.10 0.38 0.15 0.20 0.26 0.17 0.31 0.07 0.08 0.16 0.25 0.25 0.19 0.18 0.32 0.14 0.16 0.30 0.15 0.47 0.27 0.08 0.14 0.14 0.14 0.14 0.12 0.18 0.03 0.05 0.08 0.18 0.04 1.70 0.14 0.16 0.15 0.18 0.15 0.10 0.16 0.10 0.25 0.15 0.10 0.04 0.00 0.18 0.11 0.14 0.07 0.05 0.12 0.14 0.14 0.10 0.14 0.18 0.12 0.01 0.12 0.12 0.16 0.10 0.15 0.14 0.04 0.04 0.09 0.17 0.12 0.13 0.21 0.08 0.09 0.06 0.16 0.15 0.16 0.17 0.08 0.21 0.15 Government Federal civilian 0.17 0.11 0.08 0.24 0.10 0.10 0.18 0.18 0.24 0.08 3.58 0.69 0.10 0.08 0.15 0.13 0.11 0.13 0.13 0.19 0.08 0.14 0.10 0.20 0.10 0.17 0.16 0.17 0.19 0.20 0.33 0.13 0.14 0.22 0.20 0.15 0.28 0.17 0.16 0.24 0.34 0.28 0.18 0.18 0.29 0.32 0.16 0.16 0.16 0.15 0.15 0.15 0.25 0.10 0.26 0.08 0.42 0.15 0.14 0.11 Military 0.02 0.00 -0.02 -0.11 0.01 0.07 0.00 0.02 0.01 0.00 0.09 -0.01 0.02 0.01 0.01 0.04 0.12 0.01 0.00 0.01 0.00 0.03 0.00 0.12 0.01 0.02 0.03 0.04 -0.01 0.04 -0.03 0.02 0.01 0.10 -0.10 0.03 0.06 0.12 0.06 0.01 0.04 0.03 0.01 0.02 0.02 0.06 0.00 0.03 0.04 0.01 0.06 0.01 0.00 0.02 0.22 0.02 -0.09 0.01 0.01 0.02 State and local 0.34 0.22 0.24 0.10 0.21 0.04 0.59 0.29 0.34 0.14 0.18 0.45 0.13 0.52 0.18 0.38 0.55 0.31 0.50 0.16 0.28 0.27 0.23 0.28 0.35 0.18 0.33 0.23 0.37 0.28 0.27 0.23 0.28 0.30 0.33 0.33 0.32 0.30 0.27 0.39 0.15 0.17 0.38 0.53 0.66 0.48 0.32 0.43 0.50 0.36 0.15 0.39 0.53 0.41 0.13 0.40 0.17 0.49 0.53 0.44 FRIDAY, September 29, 2023 Table 4. Gross Domestic Product by State and Region: Level and Percent Change From Preceding Period Current-dollar gross domestic product Millions of dollars r 2021 United States New England Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont Mideast Delaware District of Columbia Maryland New Jersey New York Pennsylvania Great Lakes Illinois Indiana Michigan Ohio Wisconsin Plains Iowa Kansas Minnesota Missouri Nebraska North Dakota South Dakota Southeast Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina Tennessee Virginia West Virginia Southwest Arizona New Mexico Oklahoma Texas Rocky Mountain Colorado Idaho Montana Utah Wyoming Far West Alaska California Hawaii Nevada Oregon Washington Overseas activity2 r 2022 23,594,031 1,224,190 295,907 78,918 645,434 99,100 67,237 37,593 4,133,998 82,953 156,140 446,941 692,227 1,911,346 844,392 3,072,106 943,993 422,952 576,502 759,626 369,032 1,466,034 220,818 191,832 413,063 365,145 149,360 63,209 62,607 5,103,003 257,987 151,932 1,292,391 701,606 237,926 263,163 128,364 659,529 271,494 438,180 613,920 86,510 2,849,232 432,280 111,731 217,731 2,087,491 880,142 447,052 98,793 59,997 232,125 42,176 4,732,878 58,646 3,416,939 93,090 200,127 275,444 688,632 25,744,108 1,315,233 319,345 85,801 691,461 105,025 72,771 40,831 4,450,546 90,208 165,061 480,113 754,948 2,048,403 911,813 3,340,753 1,025,667 470,324 622,563 825,990 396,209 1,598,958 238,342 209,326 448,032 396,890 164,934 72,651 68,782 5,604,605 281,569 165,989 1,439,065 767,378 258,981 291,952 139,976 715,968 297,546 485,657 663,106 97,417 3,246,070 475,654 125,541 242,739 2,402,137 974,683 491,289 110,871 67,072 256,370 49,081 5,066,774 65,699 3,641,643 101,083 222,939 297,309 738,101 132,443 146,493 Seasonally adjusted at annual rates 2023 2022 Q4 Q1 Q2 ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... Real gross domestic product Millions of chained (2017) dollars Percent change from preceding period1 2022r r 2023 r 2021 2022 9.1 7.4 7.9 8.7 7.1 6.0 8.2 8.6 7.7 8.7 5.7 7.4 9.1 7.2 8.0 8.7 8.7 11.2 8.0 8.7 7.4 9.1 7.9 9.1 8.5 8.7 10.4 14.9 9.9 9.8 9.1 9.3 11.3 9.4 8.8 10.9 9.0 8.6 9.6 10.8 8.0 12.6 13.9 10.0 12.4 11.5 15.1 10.7 9.9 12.2 11.8 10.4 16.4 7.1 12.0 6.6 8.6 11.4 7.9 7.2 Q1 ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... Q2 ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... 21,407,692 1,116,078 268,847 70,870 591,911 89,890 60,777 33,861 3,741,298 74,437 142,676 405,905 629,011 1,724,472 764,602 2,788,919 852,749 384,051 531,500 686,206 334,517 1,320,363 198,471 172,840 374,733 330,117 133,496 55,401 55,140 4,611,710 231,893 135,569 1,164,778 639,236 214,565 234,014 114,198 597,316 244,854 396,576 562,888 75,521 2,557,666 390,805 99,572 193,518 1,873,473 794,824 406,962 87,993 52,952 209,975 36,930 4,342,903 51,022 3,146,185 84,122 181,103 250,099 630,820 21,822,037 1,140,308 276,669 72,414 604,358 90,150 62,191 34,609 3,814,224 75,173 144,030 412,283 646,731 1,763,525 772,336 2,825,277 864,171 396,009 539,898 689,681 335,688 1,335,232 197,846 174,795 379,112 336,626 137,078 54,799 54,959 4,735,643 235,807 137,356 1,218,430 655,827 217,568 231,262 114,153 609,058 250,873 412,101 576,964 76,526 2,620,457 403,474 101,315 191,583 1,924,007 812,969 416,114 91,684 53,983 213,898 37,294 4,385,658 50,315 3,167,461 85,211 187,226 254,708 641,144 10.6 ....... ....... ... ... r Revised 1. Quarterly percent changes shown are annualized—that is, they are a percent change from the preceding period at annual rates. 2. Economic activity taking place outside U.S. borders by the U.S. military and associated federal civilian support staff. U.S. Bureau of Economic Analysis Seasonally adjusted at annual rates 2023 2022 Q4 Q1 Q2 ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... Percent change from 1 preceding period 2023 1.9 2.2 2.9 2.2 2.1 0.3 2.3 2.2 1.9 1.0 0.9 1.6 2.8 2.3 1.0 1.3 1.3 3.1 1.6 0.5 0.4 1.1 -0.3 1.1 1.2 2.0 2.7 -1.1 -0.3 2.7 1.7 1.3 4.6 2.6 1.4 -1.2 0.0 2.0 2.5 3.9 2.5 1.3 2.5 3.2 1.8 -1.0 2.7 2.3 2.2 4.2 1.9 1.9 1.0 1.0 -1.4 0.7 1.3 3.4 1.8 1.6 Q1 ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... 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