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EMBARGOED UNTIL RELEASE AT 10:00 a.m. EDT, Friday, June 27, 2025 Technical: Media: Todd Siebeneck (GDP) Matthew von Kerczek (Income) Connie O’Connell 301-278-9705 301-278-9250 301-278-9003 BEA 25–26 GDPbyState@bea.gov REIS@bea.gov Connie.OConnell@bea.gov Gross Domestic Product by State and Personal Income by State, 1st Quarter 2025 Real gross domestic product decreased in 39 states in the first quarter of 2025, with the percent change ranging from 1.7 percent at an annual rate in South Carolina to –6.1 percent in Iowa and Nebraska, according to statistics released today by the U.S. Bureau of Economic Analysis (table 1). Current-dollar gross domestic product (GDP) increased in 47 states and the District of Columbia, with the percent change ranging from 8.7 percent at an annual rate in North Dakota to –2.7 percent in Iowa. Personal income, in current dollars, increased in all 50 states and the District of Columbia in the first quarter of 2025, with the percent change ranging from 12.7 percent at an annual rate in North Dakota to 3.2 percent in Washington state (table 3). Page 1 of 4 Real GDP In the first quarter of 2025, real GDP for the nation decreased at an annual rate of 0.5 percent. Real GDP decreased in 16 of the 23 industry groups for which BEA prepares quarterly state estimates. Finance and insurance; agriculture, forestry, fishing and hunting; and wholesale trade were the leading contributors to the decrease in real GDP nationally (table 2). • Agriculture, forestry, fishing, and hunting, which decreased in 39 states, was the leading contributor to the decreases in 11 states, including Nebraska, Iowa, Montana, and Kansas. • Mining, which decreased in 43 states, was the leading contributor to the decreases in eight states, including Wyoming, the state with the fifth-largest decline in real GDP. • Finance and insurance, which decreased in all 50 states and the District of Columbia, was the leading contributor to decreases in 18 states. • Real estate and rental and leasing, which increased in all 50 states and the District of Columbia, was the leading contributor to growth in South Carolina, the state with the largest increase in real GDP. Personal income In the first quarter of 2025, current-dollar personal income increased $407.3 billion, or 6.7 percent at an annual rate (table 3). Nationally, increases in earnings, transfer receipts, and property income (dividends, interest, and rent) contributed to the increase in personal income (chart 1). Page 2 of 4 Earnings increased in all 50 states and the District of Columbia, while growing 5.0 percent nationally (table 4). The percent change in earnings ranged from 13.5 percent in North Dakota to 0.1 percent in Washington state. Earnings increased in 22 of the 24 industries for which BEA prepares quarterly state estimates and was the largest contributor to growth in personal income in 28 states (table 5). • Farm earnings was the leading contributor to increases in North Dakota, South Dakota, and Mississippi, the states with the three largest increases in personal income, due in part to government payments from the Emergency Commodity Assistance Program. • In South Carolina, the state with the fourth-largest increase in personal income, construction was the leading contributor to the increase in earnings. • In Oklahoma, the state with the fifth-largest increase in personal income, mining was the leading contributor to the increase in earnings. Transfer receipts increased in all 50 states and the District of Columbia, while growing 13.6 percent nationally. The percent change in transfer receipts ranged from 21.2 percent in Nevada to 9.1 percent in Florida (table 4). The increase in transfer receipts was due in part to an increase in Affordable Care Act premium tax credits and an annual cost-of-living adjustment for Social Security benefits. Property income increased in all 50 states and the District of Columbia, while growing 5.6 percent nationally. The percent change ranged from 7.8 percent in Idaho to 3.8 percent in Alaska (table 4). Page 3 of 4 Update of state statistics Today, BEA also released revised quarterly estimates of personal income by state for the first through fourth quarters of 2024. This update incorporates new and revised source data that are more complete and more detailed than previously available and aligns the states with the national estimates from the National Income and Product Accounts released on June 26, 2025. New combined state news release On September 26, 2025, BEA will publish quarterly GDP and personal income by state along with annual personal consumption expenditures by state in a single news release. This combined release will provide a fuller picture of the economies of all states and the District of Columbia and will replace the publication of two separate releases issued on different days. BEA will release revised annual state GDP and personal income estimates for 2020 to 2024, along with revised quarterly estimates for the first quarter of 2020 through the first quarter of 2025 and preliminary estimates for the second quarter of 2025. An upcoming article in the Survey of Current Business will describe the results. Upcoming changes in the presentation of tables BEA’s ongoing modernization and streamlining of news release packages will include changes in the presentation of tables starting with the September 26, 2025 release of GDP, personal income, and personal consumption expenditures (PCE) by state. Data previously published as tables within the quarterly and annual news releases on GDP, personal income, and PCE by state will continue to be updated and available simultaneously with the release in BEA’s online Interactive Data Tables. However, tables will no longer be included in the body of the news release. This will reduce duplication, increase efficiency, and point data users directly to our most complete and flexible data tables, via links in the release. These customizable tables include full time series and can be downloaded as PDFs, in Excel, or in CSV format. For definitions, statistical conventions, BEA regions, uses of these statistics, and more, visit “Additional Information.” Next release: September 26, 2025, at 10:00 a.m. EDT Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2025 and Personal Consumption Expenditures by State, 2024 News release tables Table 1. Gross Domestic Product by State and Region: Level and Percent Change From Previous Period Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2024:Q4–2025:Q1 Table 3. Personal Income, by State and Region: Level and Percent Change From Preceding Period Table 4. Personal Income Change by Component, by State and Region, 2024:Q4–2025:Q1 Table 5. Contributions of Earnings to Percent Change in Personal Income, by Industry and by State and Region, 2024:Q4–2025:Q1 Page 4 of 4 FRIDAY, June 27, 2025 Table 1. Gross Domestic Product by State and Region: Level and Percent Change From Preceding Period Current-dollar gross domestic product Real gross domestic product Millions of dollars 2023 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 2024 Seasonally adjusted at annual rates 2024 2025 27,720,709 1,410,687 345,912 93,270 736,296 114,101 77,574 43,534 4,745,213 98,069 176,502 515,607 806,665 2,172,010 976,361 3,584,949 1,098,346 499,503 673,818 884,834 428,447 1,726,903 254,032 228,232 483,162 430,114 181,285 76,043 74,034 6,122,627 304,936 178,606 1,600,811 831,828 279,707 314,989 151,147 788,103 327,420 523,032 719,897 102,152 3,498,332 522,767 135,010 256,689 2,583,866 1,057,159 529,627 120,958 73,255 281,329 51,991 5,421,428 68,056 3,870,379 110,265 245,979 318,884 807,865 29,184,890 1,494,384 365,723 98,606 780,666 121,189 82,493 45,707 5,000,006 103,253 186,165 542,766 846,587 2,297,028 1,024,206 3,750,266 1,137,244 527,381 706,616 927,740 451,285 1,779,737 257,021 234,673 500,851 451,201 185,411 75,399 75,179 6,487,285 321,238 188,723 1,705,565 882,535 293,021 327,782 157,491 839,122 349,965 549,709 764,475 107,660 3,667,881 552,167 140,542 265,779 2,709,393 1,111,304 553,323 128,132 75,999 300,904 52,946 5,735,160 69,969 4,103,124 115,627 260,728 331,029 854,683 Q3 29,374,914 1,504,032 368,321 99,238 785,141 122,086 83,128 46,119 5,032,810 103,996 187,351 546,362 851,863 2,310,968 1,032,270 3,773,859 1,143,081 530,661 711,481 933,044 455,591 1,787,845 257,575 236,123 502,946 454,580 185,967 75,221 75,433 6,531,441 324,078 190,230 1,717,871 887,924 295,140 328,961 158,548 845,143 352,048 553,471 769,660 108,366 3,691,238 555,614 141,302 267,321 2,727,002 1,119,667 557,308 129,644 76,195 303,367 53,154 5,774,043 70,141 4,132,221 116,292 262,036 333,467 859,887 153,412 158,868 159,986 p Q4 29,723,864 1,521,380 372,561 100,455 794,017 123,749 84,092 46,507 5,101,749 105,698 190,204 552,955 861,683 2,346,932 1,044,277 3,815,330 1,155,420 536,211 719,392 944,885 459,423 1,809,772 260,625 238,595 509,807 460,687 188,356 75,526 76,177 6,618,605 329,002 193,865 1,738,676 899,383 298,563 332,462 161,128 857,315 357,190 560,996 780,958 109,065 3,733,536 563,190 142,531 270,141 2,757,673 1,132,534 563,398 130,565 77,135 307,885 53,550 5,830,589 70,668 4,172,891 117,657 264,773 336,623 867,977 Q1 29,962,047 1,530,844 375,041 101,082 798,057 124,864 84,896 46,905 5,141,239 106,742 192,007 556,982 866,569 2,363,860 1,055,078 3,838,299 1,158,225 538,474 725,897 953,440 462,263 1,812,680 258,871 238,349 511,691 462,819 187,258 77,118 76,574 6,684,095 332,801 196,284 1,761,503 907,018 300,408 333,746 162,908 866,017 361,444 564,205 786,900 110,861 3,783,917 568,225 144,378 273,752 2,797,562 1,143,319 569,161 131,494 77,189 311,197 54,278 5,865,495 71,955 4,197,514 118,822 267,429 338,270 871,504 160,371 162,158 Percent change from 1 preceding period 2024 p Preliminary 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 2024 Millions of chained (2017) dollars 2025 2023 2024 p Q4 5.3 5.9 5.7 5.7 6.0 6.2 6.3 5.0 5.4 5.3 5.5 5.3 4.9 5.8 4.9 4.6 3.5 5.6 4.9 4.8 5.3 3.1 1.2 2.8 3.7 4.9 2.3 -0.8 1.5 6.0 5.3 5.7 6.5 6.1 4.8 4.1 4.2 6.5 6.9 5.1 6.2 5.4 4.8 5.6 4.1 3.5 4.9 5.1 4.5 5.9 3.7 7.0 1.8 5.8 2.8 6.0 4.9 6.0 3.8 5.8 4.8 4.7 4.7 5.0 4.6 5.6 4.7 3.4 5.6 6.7 6.2 4.9 4.7 6.4 4.7 4.5 4.4 4.2 4.5 5.2 3.4 5.0 4.8 4.3 5.6 5.5 5.2 1.6 4.0 5.4 6.2 7.9 4.9 5.3 4.7 4.3 6.7 5.9 6.0 5.6 6.0 2.6 4.7 5.6 3.5 4.3 4.6 4.7 4.4 2.9 5.0 6.1 3.0 4.0 3.0 4.0 4.8 4.2 3.8 3.8 3.6 1.0 Q1 Seasonally adjusted at annual rates 2024 2025 3.2 2.5 2.7 2.5 2.1 3.7 3.9 3.5 3.1 4.0 3.8 2.9 2.3 2.9 4.2 2.4 1.0 1.7 3.7 3.7 2.5 0.6 -2.7 -0.4 1.5 1.9 -2.3 8.7 2.1 4.0 4.7 5.1 5.4 3.4 2.5 1.6 4.5 4.1 4.8 2.3 3.1 6.7 5.5 3.6 5.3 5.5 5.9 3.9 4.2 2.9 0.3 4.4 5.5 2.4 7.5 2.4 4.0 4.1 2.0 1.6 22,671,096 1,169,288 286,628 75,195 615,505 93,467 63,277 35,237 3,901,561 78,014 146,024 422,866 663,889 1,791,211 799,229 2,898,355 885,651 404,290 554,256 709,817 344,571 1,388,151 202,051 183,796 390,908 348,487 145,020 60,349 57,275 4,952,759 245,355 142,861 1,292,788 678,201 224,418 248,616 119,548 638,067 262,299 422,088 597,597 80,798 2,838,599 422,400 110,324 207,923 2,097,090 856,063 437,056 95,898 57,373 225,459 40,211 4,525,828 54,060 3,248,657 88,614 195,406 261,952 677,238 23,305,023 1,202,928 294,028 77,477 633,618 96,501 65,281 36,041 3,992,267 79,653 148,020 432,193 678,968 1,834,561 818,529 2,961,959 895,343 419,473 566,033 727,262 354,076 1,402,346 201,097 185,721 395,307 356,653 145,909 59,916 57,498 5,117,774 252,665 148,208 1,339,619 701,073 229,885 256,422 122,438 661,948 273,325 432,266 616,058 83,654 2,932,690 433,763 112,801 212,784 2,172,369 879,815 445,302 99,603 58,520 235,716 40,516 4,677,971 54,881 3,365,083 90,280 200,921 265,147 702,034 Q3 23,400,294 1,207,363 295,295 77,795 635,409 96,991 65,595 36,286 4,006,365 79,950 148,317 433,776 681,572 1,839,391 823,019 2,974,817 898,035 421,672 568,779 729,842 356,725 1,405,370 201,098 186,478 395,902 358,527 145,943 59,665 57,522 5,141,119 254,444 149,105 1,345,732 703,633 231,149 257,162 123,070 665,245 274,458 434,409 618,405 84,078 2,945,506 435,345 113,106 213,540 2,182,545 884,183 447,218 100,548 58,528 237,124 40,603 4,698,379 54,857 3,380,751 90,521 201,337 266,354 704,986 4.5 ........ ........ ........ p Q4 23,542,349 1,213,168 296,626 78,227 638,424 97,657 65,903 36,340 4,033,279 80,591 149,387 436,240 685,199 1,853,430 828,080 2,989,186 902,114 423,767 571,750 734,460 357,337 1,413,322 201,930 187,225 398,748 361,037 146,657 59,974 57,526 5,178,942 256,814 150,974 1,353,579 708,384 232,508 258,976 124,340 670,284 276,902 437,634 623,581 84,741 2,970,480 438,855 113,840 215,334 2,201,475 889,931 449,895 100,545 58,923 239,424 40,978 4,715,698 55,395 3,392,762 91,012 202,308 267,139 707,478 Q1 23,512,717 1,210,738 295,959 77,992 636,980 97,636 65,864 36,310 4,028,533 80,597 149,382 435,707 683,535 1,850,288 828,666 2,983,018 897,090 423,147 572,021 734,267 356,756 1,401,636 198,790 185,677 396,311 359,437 144,370 59,717 57,132 5,183,454 257,468 151,270 1,358,450 708,567 231,899 257,846 124,551 671,666 278,065 436,286 622,875 84,251 2,968,142 438,272 113,252 214,477 2,201,174 888,492 449,433 100,255 58,259 239,751 40,652 4,711,587 55,150 3,391,308 90,954 201,760 266,144 706,720 ........ ........ Percent change from 1 preceding period 2024 2024 2.8 2.9 2.6 3.0 2.9 3.2 3.2 2.3 2.3 2.1 1.4 2.2 2.3 2.4 2.4 2.2 1.1 3.8 2.1 2.5 2.8 1.0 -0.5 1.0 1.1 2.3 0.6 -0.7 0.4 3.3 3.0 3.7 3.6 3.4 2.4 3.1 2.4 3.7 4.2 2.4 3.1 3.5 3.3 2.7 2.2 2.3 3.6 2.8 1.9 3.9 2.0 4.5 0.8 3.4 1.5 3.6 1.9 2.8 1.2 3.7 Rank ........ ........ 23 17 19 13 14 32 ........ 37 ........ 35 33 26 28 ........ 44 4 36 24 21 ........ 49 45 43 30 47 50 48 ........ 18 5 8 12 25 15 27 6 2 29 16 11 ........ 22 34 31 9 ........ 39 3 38 1 46 ........ 41 10 40 20 42 7 ........ ........ 2024 2025 p Q4 2.4 1.9 1.8 2.2 1.9 2.8 1.9 0.6 2.7 3.2 2.9 2.3 2.1 3.1 2.5 1.9 1.8 2.0 2.1 2.6 0.7 2.3 1.7 1.6 2.9 2.8 2.0 2.1 0.0 3.0 3.8 5.1 2.4 2.7 2.4 2.9 4.2 3.1 3.6 3.0 3.4 3.2 3.4 3.3 2.6 3.4 3.5 2.6 2.4 0.0 2.7 3.9 3.8 1.5 4.0 1.4 2.2 1.9 1.2 1.4 ........ 2025 -0.5 -0.8 -0.9 -1.2 -0.9 -0.1 -0.2 -0.3 -0.5 0.0 0.0 -0.5 -1.0 -0.7 0.3 -0.8 -2.2 -0.6 0.2 -0.1 -0.6 -3.3 -6.1 -3.3 -2.4 -1.8 -6.1 -1.7 -2.7 0.3 1.0 0.8 1.4 0.1 -1.0 -1.7 0.7 0.8 1.7 -1.2 -0.5 -2.3 -0.3 -0.5 -2.1 -1.6 -0.1 -0.6 -0.4 -1.1 -4.4 0.5 -3.1 -0.3 -1.8 -0.2 -0.3 -1.1 -1.5 -0.4 Rank Q1 ........ ........ 27 33 28 13 16 18 ........ 11 ........ 22 29 26 8 ........ 42 24 9 14 25 ........ 49 47 44 40 50 37 45 ........ 3 5 2 10 30 38 6 4 1 34 21 43 ........ 23 41 36 12 ........ 19 32 48 7 46 ........ 39 15 17 31 35 20 ........ ........ Q1 FRIDAY, June 27, 2025 Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2024:Q4–2025:Q1—Continues Percent change in real gross domestic product by state 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 -0.5 -0.8 -0.9 -1.2 -0.9 -0.1 -0.2 -0.3 -0.5 0.0 0.0 -0.5 -1.0 -0.7 0.3 -0.8 -2.2 -0.6 0.2 -0.1 -0.6 -3.3 -6.1 -3.3 -2.4 -1.8 -6.1 -1.7 -2.7 0.3 1.0 0.8 1.4 0.1 -1.0 -1.7 0.7 0.8 1.7 -1.2 -0.5 -2.3 -0.3 -0.5 -2.1 -1.6 -0.1 -0.6 -0.4 -1.1 -4.4 0.5 -3.1 -0.3 -1.8 -0.2 -0.3 -1.1 -1.5 -0.4 Agriculture, Mining, quarrying, forestry, fishing, and oil and gas extraction and hunting -0.28 -0.03 -0.04 -0.08 -0.02 -0.01 0.00 -0.30 -0.01 0.70 0.00 0.04 -0.04 -0.04 -0.03 -0.34 -0.73 -0.07 -0.24 -0.02 -0.47 -2.42 -4.84 -3.30 -2.45 -0.40 -3.95 0.81 -2.61 0.12 0.66 1.63 -0.05 0.44 -0.23 -0.25 0.83 0.28 0.26 -0.64 -0.03 -0.06 -0.17 -0.22 -0.33 -0.63 -0.11 -0.71 -0.48 -1.56 -3.02 -0.09 -1.30 -0.31 0.00 -0.30 -0.15 -0.13 -0.69 -0.29 -0.16 -0.01 -0.01 0.00 0.00 -0.03 -0.02 -0.06 -0.01 0.00 0.00 -0.01 -0.01 -0.01 -0.04 -0.04 -0.02 -0.06 0.01 -0.11 -0.02 -0.11 -0.01 -0.07 0.00 -0.04 -0.03 -2.11 0.01 -0.12 -0.11 -0.07 -0.01 -0.04 -0.23 -0.60 -0.12 -0.03 -0.02 -0.03 -0.07 -2.68 -0.78 -0.07 -1.74 -1.44 -0.80 -0.39 -0.39 -0.01 -0.55 -0.15 -2.43 -0.05 -1.67 -0.02 -0.01 -0.31 -0.01 0.00 [Seasonally adjusted at annual rates] Percentage points Manufacturing Utilities -0.12 -0.37 -0.16 0.05 -0.61 0.08 -0.16 -0.37 -0.10 -0.05 -0.18 -0.01 -0.09 -0.20 0.06 -0.16 -0.47 0.10 -0.02 -0.13 -0.01 -0.04 -0.04 0.05 0.12 0.06 -0.95 0.17 0.14 -0.16 0.15 0.23 -0.42 -0.11 0.12 0.13 0.15 -0.40 0.11 -0.18 -0.01 0.16 0.00 -0.33 0.10 0.15 0.05 -0.27 -0.13 -0.03 0.13 -0.82 0.26 -0.09 0.12 -0.12 0.14 -0.11 -0.09 0.06 Construction -0.03 -0.12 -0.28 -0.04 -0.12 -0.17 0.23 0.30 -0.10 0.00 0.01 -0.29 -0.21 -0.12 0.13 0.03 -0.24 -0.08 0.47 0.15 -0.12 0.08 -0.15 0.23 0.25 -0.14 0.18 -0.30 0.70 0.00 -0.09 -0.33 0.06 -0.13 0.32 -0.52 0.27 0.12 0.32 -0.13 -0.04 0.40 0.09 -0.09 0.02 0.43 0.10 0.07 -0.33 0.01 -0.01 0.75 0.72 -0.14 0.58 -0.10 0.02 -0.13 -0.06 -0.42 Durable goods 0.02 0.05 0.01 0.04 0.03 0.18 0.17 0.12 0.05 0.00 0.00 0.04 0.12 0.02 0.06 0.01 -0.18 0.28 -0.04 0.16 -0.08 -0.01 -0.20 0.13 0.14 -0.15 -0.04 0.11 -0.05 0.11 0.46 0.32 0.18 0.15 -0.04 0.06 -0.04 -0.08 -0.13 0.26 0.03 0.12 -0.06 -0.19 0.10 0.11 -0.05 0.17 0.22 -0.14 -0.06 0.27 0.05 -0.08 0.01 -0.06 -0.01 0.25 -0.44 -0.14 Nondurable goods -0.02 -0.03 -0.07 -0.14 0.00 0.00 0.00 0.04 -0.02 0.06 0.00 0.09 -0.17 0.00 -0.03 0.06 -0.03 -0.18 -0.07 0.30 0.25 -0.09 -0.20 0.13 0.00 -0.13 -0.38 -0.04 -0.15 -0.04 0.11 0.08 -0.06 -0.13 0.06 -0.34 0.10 -0.04 0.21 -0.13 0.06 -0.02 -0.04 -0.01 -0.03 -0.14 -0.04 0.12 0.09 0.22 0.02 0.17 0.02 -0.05 -0.04 -0.07 0.03 -0.02 -0.01 -0.01 Wholesale trade -0.26 -0.24 -0.20 -0.30 -0.30 -0.04 -0.05 -0.28 -0.34 -0.12 -0.06 -0.35 -0.44 -0.29 -0.44 -0.25 -0.29 0.02 -0.31 -0.19 -0.46 -0.26 -0.08 -0.10 -0.32 -0.50 -0.11 -0.05 -0.01 -0.21 -0.29 -0.62 -0.07 -0.29 -0.24 -0.02 -0.53 -0.23 -0.09 -0.22 -0.33 -0.18 -0.19 -0.31 -0.13 -0.18 -0.17 -0.39 -0.50 -0.29 -0.26 -0.29 -0.32 -0.28 -0.14 -0.30 -0.12 -0.18 -0.51 -0.15 Retail trade -0.20 -0.23 -0.25 -0.33 -0.19 -0.33 -0.27 -0.32 -0.17 0.00 -0.06 -0.30 -0.35 -0.06 -0.21 -0.24 -0.30 -0.27 -0.18 -0.15 -0.35 -0.26 -0.24 -0.22 -0.24 -0.33 -0.18 -0.26 -0.27 -0.17 -0.11 -0.34 -0.12 -0.21 -0.24 -0.24 -0.08 -0.10 -0.11 -0.11 -0.35 -0.05 -0.17 -0.39 -0.20 -0.13 -0.13 -0.28 -0.26 -0.18 -0.12 -0.42 -0.26 -0.23 -0.22 -0.20 -0.28 -0.18 -0.22 -0.40 Transportation and warehousing -0.06 0.02 -0.06 -0.09 0.09 -0.01 -0.03 -0.03 -0.04 0.09 0.05 -0.06 0.10 -0.06 -0.12 -0.03 -0.07 0.03 0.01 -0.04 -0.03 -0.18 0.02 -0.20 -0.09 -0.17 -0.59 -0.38 -0.14 -0.01 -0.01 0.02 0.01 -0.21 -0.14 0.08 -0.11 0.13 -0.04 -0.08 0.12 -0.05 -0.10 -0.18 -0.23 -0.30 -0.06 -0.16 -0.13 -0.03 -0.87 -0.06 -0.40 -0.09 -0.50 -0.08 -0.15 -0.14 -0.08 -0.09 Information 0.56 0.54 0.64 0.29 0.59 0.45 0.11 0.34 0.48 0.09 0.49 0.41 0.38 0.57 0.46 0.47 0.53 0.20 0.38 0.50 0.69 0.34 0.29 0.32 0.39 0.23 0.61 0.36 0.32 0.46 0.27 0.27 0.65 0.45 0.24 0.25 0.25 0.47 0.38 0.34 0.55 0.28 0.42 0.35 0.34 0.37 0.44 0.83 1.01 0.30 0.29 1.00 0.09 0.93 0.20 1.08 0.33 0.36 0.62 0.65 Finance and insurance -0.51 -0.61 -0.64 -0.57 -0.55 -0.70 -1.00 -0.54 -0.92 -1.28 -0.52 -0.28 -0.57 -1.40 -0.50 -0.44 -0.36 -0.52 -0.14 -0.71 -0.45 -0.76 -0.94 -0.39 -0.91 -0.67 -0.76 -0.52 -1.17 -0.40 -0.58 -0.24 -0.37 -0.49 -0.35 -0.44 -0.43 -0.35 -0.20 -0.46 -0.45 -0.29 -0.31 -0.31 -0.26 -0.30 -0.32 -0.46 -0.44 -0.33 -0.38 -0.61 -0.19 -0.35 -0.14 -0.35 -0.25 -0.56 -0.33 -0.32 FRIDAY, June 27, 2025 Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2024:Q4–2025:Q1—Table Ends [Seasonally adjusted at annual rates] Percentage points Administrative and Professional, Real estate and Management support and waste scientific, and rental and of companies management and technical remediation and enterprises leasing 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 0.66 0.74 0.70 0.95 0.74 0.75 0.73 0.41 0.63 0.87 0.48 0.56 0.65 0.66 0.60 0.45 0.38 0.40 0.46 0.55 0.49 0.46 0.31 0.53 0.57 0.43 0.32 0.47 0.51 0.76 0.43 0.39 1.21 0.73 0.38 0.38 0.44 0.67 0.88 0.63 0.59 0.61 0.88 1.15 0.49 0.49 0.88 0.90 0.86 1.08 0.79 0.92 0.86 0.60 0.27 0.58 0.73 0.92 0.47 0.65 0.09 0.14 0.09 0.07 0.11 0.51 0.07 0.48 0.12 0.16 0.18 -0.14 0.10 0.08 0.35 0.09 0.22 -0.02 -0.10 0.08 0.19 0.19 0.05 0.24 0.37 0.13 0.03 0.06 0.05 0.09 0.43 0.05 0.24 0.00 0.00 0.04 -0.04 0.10 -0.13 0.27 -0.19 0.01 0.19 0.09 0.10 0.08 0.23 0.21 0.37 0.08 0.01 0.04 0.15 -0.05 -0.01 -0.10 -0.10 0.06 0.27 0.04 -0.12 -0.16 -0.17 -0.19 -0.15 -0.18 -0.15 -0.05 -0.16 -0.25 -0.04 -0.09 -0.21 -0.16 -0.17 -0.18 -0.10 -0.11 -0.17 -0.29 -0.25 -0.16 -0.11 -0.15 -0.27 -0.12 -0.15 -0.11 -0.09 -0.09 -0.04 -0.29 -0.05 -0.07 -0.06 -0.06 -0.03 -0.14 -0.07 -0.10 -0.18 -0.10 -0.08 0.00 -0.03 -0.13 -0.09 -0.08 -0.09 -0.08 -0.03 -0.07 0.00 -0.11 -0.05 -0.11 -0.09 -0.25 -0.39 -0.01 -0.01 -0.03 0.04 -0.05 -0.08 0.02 -0.02 0.16 -0.01 -0.02 0.02 -0.09 -0.07 0.02 0.02 -0.03 -0.27 0.13 0.07 0.08 -0.02 -0.06 -0.07 -0.15 -0.03 0.01 -0.20 0.00 0.01 0.00 -0.17 -0.11 -0.06 0.06 0.07 -0.02 -0.04 0.16 0.18 -0.15 0.01 -0.05 -0.04 0.08 0.02 -0.12 -0.06 -0.01 -0.04 0.01 0.15 -0.01 -0.14 0.03 0.01 -0.01 -0.07 0.23 0.05 0.18 Educational services -0.03 -0.20 -0.27 -0.11 -0.21 -0.07 -0.09 -0.06 -0.02 -0.01 0.01 -0.03 0.03 -0.02 -0.06 -0.05 -0.10 -0.03 0.01 -0.04 -0.04 -0.03 -0.02 -0.04 -0.02 -0.05 -0.05 -0.01 -0.02 -0.04 -0.01 -0.02 -0.05 0.03 -0.05 -0.03 -0.02 -0.02 -0.06 -0.08 -0.08 -0.02 -0.03 -0.01 -0.03 0.00 -0.03 -0.04 -0.01 -0.09 -0.02 -0.07 -0.01 0.00 0.01 0.00 0.01 -0.05 0.05 -0.02 Health care and social assistance 0.13 -0.02 -0.12 -0.15 0.08 -0.16 0.03 -0.19 0.20 0.00 -0.06 0.06 0.14 0.25 0.29 0.01 0.01 -0.06 0.06 0.00 0.03 0.22 0.07 -0.02 0.37 0.31 0.17 0.08 0.19 0.10 0.18 0.10 0.16 0.11 -0.09 0.07 -0.12 0.12 0.20 -0.14 0.18 -0.04 0.10 0.06 -0.10 0.09 0.12 0.02 0.08 -0.05 0.12 -0.07 -0.09 0.22 -0.02 0.27 0.22 0.14 0.06 0.06 Government Other services Arts, entertainAccommodation (except government ment, and and food services and government Federal civilian recreation enterprises) -0.11 -0.10 -0.10 -0.19 -0.08 -0.17 -0.13 -0.10 -0.10 -0.10 -0.21 -0.07 -0.22 -0.06 -0.09 -0.11 -0.11 -0.14 -0.10 -0.08 -0.11 -0.12 -0.06 -0.06 -0.20 -0.15 -0.09 -0.01 -0.08 -0.10 -0.03 -0.13 -0.13 -0.11 -0.12 -0.10 -0.04 -0.04 -0.08 -0.20 -0.04 -0.12 -0.06 -0.09 -0.08 -0.07 -0.06 -0.25 -0.36 -0.11 -0.24 -0.13 -0.16 -0.13 -0.09 -0.13 -0.08 -0.33 -0.16 -0.07 -0.11 -0.11 -0.07 -0.11 -0.13 -0.20 0.08 -0.18 -0.04 -0.05 0.08 -0.10 -0.13 0.01 -0.05 -0.18 -0.26 -0.20 -0.13 -0.15 -0.07 -0.12 -0.10 -0.06 -0.18 -0.07 -0.13 -0.15 -0.10 -0.06 -0.10 -0.07 0.06 -0.13 -0.16 -0.01 0.04 -0.11 -0.06 -0.13 -0.08 -0.07 -0.12 -0.12 -0.11 -0.12 -0.12 -0.08 -0.07 0.03 -0.11 -0.14 -0.07 -0.18 -0.07 -0.18 -0.31 -0.67 -0.13 -0.05 -0.16 -0.15 -0.15 -0.24 -0.12 -0.17 -0.21 -0.18 -0.16 -0.13 -0.67 -0.16 -0.18 -0.14 -0.13 -0.15 -0.19 -0.12 -0.12 -0.17 -0.12 -0.16 -0.11 -0.25 -0.13 -0.19 -0.12 -0.15 -0.19 -0.15 -0.19 -0.18 -0.09 -0.15 -0.21 -0.14 -0.12 -0.10 -0.18 -0.18 -0.21 -0.16 -0.13 -0.10 -0.25 -0.21 -0.13 -0.21 -0.25 -0.09 -0.24 -0.18 -0.15 -0.17 -0.07 -0.19 -0.08 -0.10 -0.16 -0.15 0.03 0.03 0.01 -0.03 0.04 0.01 0.04 0.14 0.04 0.02 0.53 0.02 0.04 0.01 0.02 0.03 0.02 0.04 0.04 0.04 0.00 0.00 0.02 0.03 0.00 -0.03 0.05 -0.01 0.00 0.06 0.10 0.03 0.08 0.05 0.04 0.04 0.02 0.07 0.09 0.08 -0.01 0.05 0.03 0.05 -0.15 0.03 0.03 0.02 -0.02 0.02 -0.03 0.11 0.05 0.02 0.11 0.03 -0.06 0.06 -0.02 0.00 Military State and local -0.05 -0.02 0.07 -0.05 -0.09 -0.01 0.22 -0.01 -0.03 -0.02 -0.18 -0.08 -0.01 -0.02 -0.03 0.01 0.08 -0.01 -0.02 -0.02 -0.02 -0.03 -0.02 -0.05 -0.01 -0.09 -0.02 -0.01 0.01 -0.02 -0.23 -0.01 0.05 -0.02 -0.27 -0.16 0.06 0.16 -0.15 0.00 -0.08 -0.06 -0.02 -0.09 -0.07 -0.07 0.00 0.03 0.08 -0.02 -0.05 0.00 0.00 -0.04 -0.38 -0.03 -0.04 -0.04 -0.03 -0.05 0.22 0.10 0.12 0.08 0.06 0.14 0.22 0.36 0.24 0.08 0.11 0.36 0.17 0.27 0.18 0.23 0.27 0.10 0.30 0.15 0.34 0.25 0.35 0.15 0.20 0.28 0.30 0.34 0.24 0.20 0.20 0.10 0.24 0.18 0.17 0.14 0.22 0.21 0.35 0.16 0.16 0.03 0.28 0.19 0.50 0.51 0.26 0.32 0.38 0.13 0.05 0.40 0.16 0.20 0.32 0.22 0.09 0.12 0.30 0.09 FRIDAY, June 27, 2025 Table 3. Personal Income by State and Region: Level and Percent Change From Preceding Period Millions of dollars 2023 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 23,380,269 1,278,575 325,346 90,868 634,296 110,684 74,046 43,336 3,875,065 68,982 72,525 465,937 762,803 1,611,169 893,649 3,049,473 906,648 420,260 613,719 724,779 384,068 1,464,221 201,333 194,414 416,325 387,905 141,151 56,475 66,620 5,491,964 276,926 176,809 1,553,426 660,447 250,569 269,140 145,962 670,051 308,078 443,472 643,579 93,505 2,848,129 464,775 117,016 245,439 2,020,899 928,161 470,606 116,675 73,620 219,332 47,928 4,444,680 52,520 3,166,135 94,971 211,575 287,182 632,296 2024 24,632,680 1,348,669 342,645 95,723 670,283 116,778 77,791 45,451 4,073,323 72,879 76,007 491,898 798,742 1,703,276 930,521 3,192,010 943,055 441,783 641,085 763,207 402,881 1,515,704 206,072 202,115 434,157 404,331 144,111 56,530 68,387 5,809,528 292,359 184,259 1,645,166 697,614 263,951 281,987 153,089 716,389 328,702 469,138 679,282 97,593 2,994,134 488,730 122,814 256,622 2,125,967 976,672 492,712 123,772 76,894 232,792 50,503 4,722,638 55,693 3,372,090 100,537 224,334 301,994 667,991 Seasonally adjusted at annual rates 2024 r Q1 24,318,722 1,336,080 338,788 94,913 664,341 115,995 77,117 44,925 4,017,528 71,530 75,205 488,439 789,320 1,675,447 917,587 3,159,438 934,490 438,878 634,671 752,519 398,880 1,501,127 204,286 199,399 429,843 400,562 142,759 56,385 67,894 5,732,488 287,602 181,361 1,625,770 689,626 261,485 279,688 150,858 703,360 323,795 462,004 669,805 97,134 2,960,578 484,791 121,296 253,400 2,101,090 962,932 487,302 121,282 76,027 228,690 49,631 4,648,551 55,118 3,317,644 98,631 222,585 297,522 657,050 r Q2 24,548,487 1,345,227 341,481 95,476 668,945 116,483 77,365 45,477 4,061,937 72,871 76,082 491,325 797,269 1,698,894 925,495 3,186,340 939,677 442,145 641,552 762,360 400,605 1,508,527 204,941 201,714 430,758 402,542 143,961 56,378 68,233 5,783,984 290,627 182,646 1,635,550 694,566 262,574 281,474 152,602 712,094 327,451 468,891 677,806 97,702 2,984,599 488,468 122,604 256,242 2,117,286 974,328 492,874 123,520 76,447 231,233 50,254 4,703,545 55,295 3,354,380 99,955 223,997 302,126 667,793 r Q3 24,690,859 1,350,027 343,514 96,072 670,323 116,628 77,884 45,606 4,085,227 73,103 76,006 493,137 800,223 1,709,334 933,425 3,194,307 944,132 441,144 640,308 764,436 404,287 1,517,284 206,525 202,339 435,062 404,856 143,934 56,281 68,286 5,826,635 293,732 185,654 1,650,363 698,121 264,038 282,664 153,666 721,843 329,461 469,661 680,193 97,239 3,001,694 489,809 123,101 257,087 2,131,698 977,591 492,500 124,594 77,050 232,646 50,800 4,738,093 55,856 3,384,950 100,947 225,105 302,737 668,498 Q4 25,016,500 1,359,774 347,988 97,928 671,441 117,638 78,594 46,184 4,127,983 74,024 77,731 500,957 809,658 1,724,224 941,390 3,230,709 955,068 444,751 649,081 773,289 408,521 1,533,536 208,106 204,662 440,084 409,509 145,131 56,952 69,092 5,908,293 296,820 188,411 1,673,612 709,974 266,653 284,029 154,979 732,146 335,591 475,258 692,114 98,705 3,040,999 500,040 124,576 260,443 2,155,941 990,528 499,035 127,078 78,477 234,971 50,967 4,824,678 56,518 3,446,846 101,445 229,170 308,990 681,709 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. U.S. Bureau of Economic Analysis r 2025 p Q1 25,423,800 1,378,364 352,933 99,519 679,510 119,536 79,896 46,969 4,192,488 75,463 78,620 507,755 822,500 1,750,141 958,010 3,283,955 967,742 452,162 660,760 787,814 415,476 1,562,843 212,049 207,994 448,708 417,153 147,286 58,675 70,977 6,014,856 302,721 192,384 1,702,157 723,267 271,243 288,160 158,669 747,098 342,983 482,160 703,645 100,369 3,098,637 506,625 126,411 266,166 2,199,435 1,007,492 508,316 128,535 79,730 239,105 51,806 4,885,165 57,403 3,490,879 102,992 233,338 313,395 687,159 2024 5.4 5.5 5.3 5.3 5.7 5.5 5.1 4.9 5.1 5.7 4.8 5.6 4.7 5.7 4.1 4.7 4.0 5.1 4.5 5.3 4.9 3.5 2.4 4.0 4.3 4.2 2.1 0.1 2.7 5.8 5.6 4.2 5.9 5.6 5.3 4.8 4.9 6.9 6.7 5.8 5.5 4.4 5.1 5.2 5.0 4.6 5.2 5.2 4.7 6.1 4.4 6.1 5.4 6.3 6.0 6.5 5.9 6.0 5.2 5.6 2024 Rank ........ ........ 23 21 12 19 29 33 ........ 13 ........ 17 35 11 44 ........ 45 28 38 24 31 ........ 48 46 41 42 49 50 47 ........ 16 43 8 15 22 34 32 1 2 10 18 40 ........ 27 30 37 25 ........ 36 5 39 4 20 ........ 6 3 9 7 26 14 Percent change from 1 preceding period 2024 r Q1 9.3 11.4 9.5 11.9 12.6 11.7 10.6 8.2 8.4 9.1 8.3 12.5 7.3 9.8 4.6 7.8 5.7 11.3 8.7 7.7 7.9 4.9 2.5 4.5 7.2 6.3 0.9 -1.1 4.2 9.6 8.7 7.5 10.4 9.6 11.7 8.6 6.5 11.1 12.0 8.6 7.2 8.9 8.7 11.2 9.0 6.8 8.3 7.5 7.3 8.3 6.0 8.1 6.8 12.5 12.1 14.1 8.2 11.5 9.3 7.1 r Q2 3.8 2.8 3.2 2.4 2.8 1.7 1.3 5.0 4.5 7.7 4.7 2.4 4.1 5.7 3.5 3.4 2.2 3.0 4.4 5.3 1.7 2.0 1.3 4.7 0.9 2.0 3.4 -0.1 2.0 3.6 4.3 2.9 2.4 2.9 1.7 2.6 4.7 5.1 4.6 6.1 4.9 2.4 3.3 3.1 4.4 4.6 3.1 4.8 4.7 7.6 2.2 4.5 5.1 4.8 1.3 4.5 5.5 2.6 6.3 6.7 r Q3 2.3 1.4 2.4 2.5 0.8 0.5 2.7 1.1 2.3 1.3 -0.4 1.5 1.5 2.5 3.5 1.0 1.9 -0.9 -0.8 1.1 3.7 2.3 3.1 1.2 4.1 2.3 -0.1 -0.7 0.3 3.0 4.3 6.8 3.7 2.1 2.2 1.7 2.8 5.6 2.5 0.7 1.4 -1.9 2.3 1.1 1.6 1.3 2.8 1.3 -0.3 3.5 3.2 2.5 4.4 3.0 4.1 3.7 4.0 2.0 0.8 0.4 r Q4 5.4 2.9 5.3 8.0 0.7 3.5 3.7 5.2 4.3 5.1 9.4 6.5 4.8 3.5 3.5 4.6 4.7 3.3 5.6 4.7 4.3 4.4 3.1 4.7 4.7 4.7 3.4 4.9 4.8 5.7 4.3 6.1 5.8 7.0 4.0 1.9 3.5 5.8 7.7 4.9 7.2 6.2 5.3 8.6 4.9 5.3 4.6 5.4 5.4 8.2 7.6 4.1 1.3 7.5 4.8 7.5 2.0 7.4 8.5 8.1 2025 2025 p Rank Q1 Q1 6.7 ........ ........ 5.6 5.8 43 6.7 31 4.9 48 6.6 32 6.8 28 7.0 24 6.4 ........ 8.0 11 4.7 ........ 5.5 44 6.5 34 6.1 37 7.3 19 6.8 ........ 5.4 45 6.8 26 7.4 18 7.7 13 7.0 23 7.9 ........ 7.8 12 6.7 30 8.1 10 7.7 15 6.1 38 12.7 1 11.4 2 7.4 ........ 8.2 9 8.7 6 7.0 22 7.7 14 7.1 21 5.9 40 9.9 3 8.4 7 9.1 4 5.9 41 6.8 27 6.9 25 7.8 ........ 5.4 46 6.0 39 9.1 5 8.3 8 7.0 ........ 7.6 16 49 4.7 33 6.5 7.2 20 6.7 29 5.1 ........ 35 6.4 5.2 47 6.2 36 7.5 17 42 5.8 3.2 50 FRIDAY, June 27, 2025 Table 4. Personal Income Change by Component, by State and Region, 2024:Q4–2025:Q1 Contribution to percent change in personal income (percentage points) 1 Percent change Personal income 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 Dividends, Net 2 interest, and earnings rent 6.7 5.6 5.8 6.7 4.9 6.6 6.8 7.0 6.4 8.0 4.7 5.5 6.5 6.1 7.3 6.8 5.4 6.8 7.4 7.7 7.0 7.9 7.8 6.7 8.1 7.7 6.1 12.7 11.4 7.4 8.2 8.7 7.0 7.7 7.1 5.9 9.9 8.4 9.1 5.9 6.8 6.9 7.8 5.4 6.0 9.1 8.3 7.0 7.6 4.7 6.5 7.2 6.7 5.1 6.4 5.2 6.2 7.5 5.8 3.2 5.0 3.6 4.2 3.6 2.7 4.6 5.1 5.1 5.2 6.2 2.6 4.0 4.9 5.3 6.2 5.3 3.8 5.0 6.0 6.5 5.5 6.3 7.0 4.3 7.3 5.4 3.4 13.5 10.5 5.8 6.6 6.4 6.8 5.8 5.1 4.6 6.8 5.7 6.7 4.4 4.5 4.5 5.9 2.6 3.4 6.9 6.6 4.7 5.6 1.3 3.2 5.3 3.5 3.3 4.0 3.8 4.6 4.2 3.5 0.1 5.6 5.4 4.8 6.4 5.6 5.6 4.8 4.8 4.9 5.9 5.0 4.8 4.9 4.5 5.5 5.2 4.5 5.4 5.5 5.7 5.5 5.9 4.8 5.3 6.0 6.4 6.4 6.0 6.8 5.8 5.5 6.6 5.9 5.5 5.2 5.3 5.3 6.2 6.6 6.5 5.2 5.4 6.3 7.2 5.1 4.8 6.3 6.9 6.4 7.8 6.8 7.5 7.0 5.3 3.8 5.2 4.9 6.0 5.7 5.6 Transfer receipts 13.6 13.9 14.3 14.9 12.9 16.2 13.9 14.5 12.3 14.9 16.1 12.9 15.7 10.9 11.9 13.0 12.3 13.6 13.0 12.9 13.5 15.2 13.0 17.1 13.4 15.7 16.1 19.8 21.0 13.7 14.2 16.6 9.1 16.7 12.5 9.8 19.1 18.4 17.1 10.5 18.7 12.4 16.7 11.7 12.9 19.2 18.2 17.3 20.1 11.6 16.3 16.4 17.1 11.9 16.8 10.7 13.6 21.2 12.6 14.0 Percent change in personal Dividends, income Net earnings2 interest, and rent 6.7 5.6 5.8 6.7 4.9 6.6 6.8 7.0 6.4 8.0 4.7 5.5 6.5 6.1 7.3 6.8 5.4 6.8 7.4 7.7 7.0 7.9 7.8 6.7 8.1 7.7 6.1 12.7 11.4 7.4 8.2 8.7 7.0 7.7 7.1 5.9 9.9 8.4 9.1 5.9 6.8 6.9 7.8 5.4 6.0 9.1 8.3 7.0 7.6 4.7 6.5 7.2 6.7 5.1 6.4 5.2 6.2 7.5 5.8 3.2 3.1 2.3 2.7 2.1 1.8 3.1 3.1 3.0 3.3 3.7 1.8 2.6 3.3 3.3 3.8 3.2 2.4 3.2 3.6 3.9 3.4 3.8 4.3 2.8 4.5 3.1 2.1 8.1 6.0 3.4 3.8 3.4 3.5 3.7 2.9 2.6 3.9 3.4 3.8 2.9 2.9 2.5 3.8 1.6 1.9 4.2 4.3 2.9 3.6 0.8 1.8 3.4 1.7 2.1 2.6 2.4 2.8 2.5 2.1 0.1 1.1 1.1 1.0 1.2 1.2 1.0 0.9 1.0 0.9 1.1 0.9 0.9 0.9 0.9 1.0 1.0 0.9 0.9 1.0 1.0 1.1 1.2 0.9 1.0 1.3 1.3 1.4 1.5 1.7 1.2 1.0 1.7 1.7 1.0 0.9 1.0 0.9 1.1 1.3 1.0 1.0 0.9 1.2 1.5 0.9 0.9 1.2 1.6 1.4 1.8 1.7 1.7 2.5 1.1 0.7 1.0 1.0 1.4 1.1 1.2 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 Transfer receipts 2.5 2.2 2.0 3.4 2.0 2.5 2.8 3.0 2.2 3.2 1.9 2.0 2.3 2.0 2.4 2.5 2.1 2.8 2.8 2.7 2.5 2.8 2.6 2.9 2.4 3.2 2.6 3.1 3.6 2.8 3.4 3.6 1.8 3.0 3.3 2.4 5.1 3.9 4.0 2.1 2.9 3.6 2.8 2.3 3.2 4.0 2.7 2.5 2.6 2.1 3.0 2.1 2.5 2.0 3.2 1.8 2.4 3.6 2.6 2.0 Dollar change (millions) Personal income 407,300 18,590 4,944 1,591 8,070 1,898 1,302 786 64,505 1,440 889 6,798 12,843 25,916 16,619 53,246 12,674 7,411 11,680 14,525 6,955 29,307 3,944 3,331 8,624 7,644 2,155 1,723 1,885 106,563 5,901 3,973 28,545 13,293 4,590 4,130 3,689 14,952 7,392 6,901 11,531 1,664 57,638 6,585 1,835 5,723 43,495 16,964 9,281 1,457 1,253 4,134 839 60,488 885 44,033 1,547 4,168 4,405 5,450 Dividends, Net earnings interest, and rent 2 188,384 7,542 2,330 494 2,895 886 602 336 33,349 666 345 3,219 6,473 13,896 8,749 25,493 5,635 3,442 5,611 7,424 3,382 14,283 2,152 1,375 4,769 3,129 750 1,106 1,001 48,173 2,763 1,541 14,437 6,309 1,909 1,814 1,441 6,098 3,096 3,317 4,853 595 27,856 1,930 588 2,648 22,690 7,091 4,331 241 345 1,958 215 24,597 352 20,455 705 1,393 1,552 139 68,894 3,656 876 296 1,917 289 165 114 9,392 203 174 1,099 1,751 3,791 2,373 7,747 2,105 942 1,655 1,964 1,080 4,646 473 521 1,339 1,334 498 201 280 17,848 721 783 6,758 1,796 563 683 331 2,012 1,085 1,169 1,736 210 9,141 1,783 286 556 6,516 3,907 1,746 565 335 950 311 12,557 92 8,614 244 787 867 1,954 Transfer receipts 150,022 7,392 1,739 801 3,258 723 535 336 21,765 570 370 2,479 4,619 8,229 5,497 20,006 4,934 3,027 4,414 5,137 2,494 10,377 1,318 1,435 2,516 3,181 907 415 604 40,543 2,417 1,649 7,350 5,188 2,119 1,633 1,917 6,842 3,211 2,416 4,942 860 20,641 2,873 961 2,519 14,288 5,965 3,204 651 573 1,225 312 23,334 440 14,964 598 1,988 1,986 3,357 FRIDAY, June 27, 2025 Table 5. Contributions of Earnings to Percent Change in Personal Income, by Industry and by State and Region, 2024:Q4–2025:Q1—Continues [Percentage points, seasonally adjusted at annual rates] 1 Total earnings 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 3.59 2.53 2.63 2.40 2.12 3.49 3.75 3.54 3.91 4.51 3.60 2.96 3.04 4.31 4.43 3.73 2.74 3.55 4.13 4.61 3.92 4.42 4.79 3.27 5.16 3.69 2.67 8.72 6.63 3.88 4.37 3.71 4.15 4.20 3.46 3.00 4.23 4.06 4.29 3.31 3.38 2.71 4.31 1.90 2.32 4.71 4.94 3.44 4.08 1.09 2.11 4.08 2.13 2.48 3.04 2.86 3.41 2.98 2.72 0.15 Farm 0.03 -0.04 -0.03 -0.11 -0.02 -0.02 -0.02 -0.24 -0.02 0.45 0.00 0.05 -0.04 -0.04 -0.02 0.19 0.36 0.45 -0.05 0.13 -0.04 0.70 1.28 -0.41 0.50 0.37 0.06 5.80 2.64 0.20 0.44 1.70 -0.08 0.46 0.21 0.08 0.93 0.23 0.22 0.09 0.02 -0.02 -0.08 -0.18 -0.35 -0.16 -0.03 -0.27 -0.20 -0.97 0.01 -0.08 -0.49 -0.32 -0.02 -0.35 -0.13 -0.06 -0.38 -0.28 Forestry, Mining, quarrying, fishing, and and oil and gas related extraction activities -0.03 -0.02 -0.01 -0.11 -0.02 -0.02 -0.01 -0.03 -0.01 0.00 0.00 -0.01 -0.01 -0.01 -0.02 -0.02 -0.02 -0.04 -0.02 -0.03 -0.02 -0.05 -0.18 -0.06 -0.01 -0.03 -0.05 -0.02 -0.08 -0.02 -0.02 -0.04 -0.01 -0.01 -0.05 0.01 -0.05 -0.02 -0.01 -0.01 -0.02 -0.02 -0.02 -0.03 -0.03 -0.01 -0.02 -0.05 -0.02 -0.17 -0.15 0.00 -0.10 -0.05 -0.13 -0.03 -0.03 -0.02 -0.27 -0.10 0.07 0.01 0.01 0.00 0.01 0.00 0.00 -0.01 0.04 0.04 0.01 0.00 0.02 0.04 0.06 0.01 0.01 -0.01 0.02 0.02 0.00 0.02 0.00 0.09 0.04 0.02 -0.01 -0.26 0.02 -0.03 0.00 -0.01 0.00 0.00 -0.05 0.09 0.00 -0.21 0.00 0.00 -0.01 -0.11 0.43 0.02 -0.13 1.10 0.47 0.32 0.62 0.06 -0.01 0.06 -0.16 -0.01 -0.30 0.00 0.00 -0.10 0.00 0.01 Earnings by industry Manufacturing Utilities -0.10 -0.24 -0.07 -0.01 -0.42 0.00 -0.08 -0.19 -0.09 -0.06 -0.19 -0.04 -0.06 -0.16 -0.02 -0.11 -0.28 -0.01 -0.05 -0.07 -0.03 -0.10 -0.05 -0.02 0.00 -0.02 -0.89 -0.01 0.00 -0.10 -0.02 0.00 -0.16 -0.09 0.00 -0.01 -0.02 -0.24 -0.01 -0.06 -0.03 -0.01 -0.06 -0.22 0.00 -0.01 -0.03 -0.23 -0.08 -0.04 0.00 -0.80 0.02 -0.07 0.00 -0.09 0.00 -0.08 -0.06 0.00 Construction 0.21 0.09 -0.14 0.22 0.12 0.04 0.46 0.65 0.11 0.25 0.15 0.02 -0.01 0.05 0.35 0.16 -0.44 0.21 0.71 0.44 0.14 0.35 0.12 0.48 0.50 0.14 0.47 0.02 1.09 0.26 0.18 -0.08 0.28 0.14 0.55 -0.15 0.53 0.40 0.55 0.16 0.20 0.51 0.42 0.24 0.28 0.65 0.44 0.38 0.01 0.37 0.33 1.06 0.90 0.09 0.91 0.11 0.34 0.22 0.23 -0.19 Durable goods 0.25 0.29 0.32 0.23 0.23 0.52 0.35 0.32 0.18 0.07 0.01 0.13 0.21 0.14 0.29 0.41 0.13 0.74 0.47 0.53 0.38 0.31 0.27 0.44 0.46 0.18 0.17 0.26 0.20 0.30 0.73 0.38 0.26 0.33 0.39 0.21 0.32 0.19 0.24 0.50 0.17 0.26 0.09 -0.57 0.18 0.30 0.21 0.18 0.33 -0.89 0.07 0.50 0.10 0.25 0.04 0.28 0.02 0.34 0.12 0.15 Nondurable goods 0.09 0.08 0.04 0.04 0.10 0.08 0.09 0.14 0.08 0.17 0.01 0.11 0.06 0.06 0.14 0.17 0.17 -0.21 0.10 0.29 0.41 0.13 0.18 0.24 0.17 0.09 -0.01 0.07 -0.01 0.08 0.22 0.23 -0.07 0.07 0.21 0.12 0.19 0.13 0.27 0.08 0.09 0.10 0.08 0.04 0.04 0.02 0.11 0.15 0.12 0.24 0.07 0.20 0.07 0.05 0.06 0.05 0.06 0.04 0.08 0.06 Wholesale trade Retail trade 0.13 0.11 0.14 0.05 0.05 0.36 0.19 0.06 0.04 0.10 0.05 0.01 0.12 0.03 0.01 0.19 0.21 0.32 0.13 0.20 0.05 0.18 0.27 0.23 0.18 0.03 0.27 0.41 0.31 0.16 0.11 0.01 0.24 0.18 0.17 0.24 -0.04 0.17 0.21 0.18 0.02 0.09 0.21 0.09 0.07 0.12 0.26 0.03 -0.03 0.15 0.11 0.07 -0.02 0.07 0.04 0.07 0.08 0.09 -0.03 0.16 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 0.18 0.15 0.12 0.22 0.13 0.20 0.17 0.19 0.17 0.30 0.06 0.09 0.09 0.22 0.17 0.17 0.11 0.14 0.22 0.23 0.11 0.16 0.17 0.17 0.15 0.14 0.17 0.18 0.19 0.23 0.28 0.16 0.27 0.19 0.18 0.19 0.33 0.27 0.28 0.31 0.06 0.29 0.15 -0.33 0.18 0.25 0.25 0.16 0.12 0.31 0.31 0.12 0.12 0.19 0.15 0.17 0.17 0.23 0.19 0.27 Transportation and warehousing 0.26 0.09 -0.27 0.09 0.26 0.14 0.12 0.11 0.24 0.42 0.19 0.15 0.39 0.17 0.27 0.32 0.36 0.39 0.28 0.30 0.24 0.18 0.32 0.18 0.20 0.15 0.05 0.08 0.09 0.30 0.24 0.35 0.29 0.21 0.36 0.42 0.24 0.37 0.19 0.37 0.32 0.16 0.33 0.14 0.04 0.33 0.39 0.18 0.20 0.20 -0.26 0.25 0.31 0.23 0.36 0.24 0.28 0.28 0.18 0.21 Information 0.21 0.19 0.18 0.13 0.23 0.19 0.03 0.12 0.12 0.04 -2.52 0.17 0.13 0.21 0.17 0.20 0.25 0.08 0.15 0.23 0.28 0.14 0.12 0.13 0.17 0.07 0.25 0.18 0.13 0.17 0.09 0.09 0.24 0.15 0.08 0.09 0.08 0.21 0.14 0.14 0.20 0.12 0.16 0.14 0.11 0.13 0.17 0.36 0.43 0.10 0.10 0.51 0.02 0.37 0.08 0.45 0.12 0.14 0.24 0.16 Finance and insurance 0.36 0.53 0.89 0.19 0.51 0.16 0.20 0.11 0.55 0.88 -0.61 0.26 0.29 0.92 0.33 0.39 0.54 0.13 0.40 0.34 0.37 0.29 0.47 0.28 0.21 0.26 0.41 0.11 0.38 0.33 0.12 0.23 0.38 0.37 0.27 0.12 0.13 0.59 0.35 0.26 0.24 0.13 0.43 0.48 0.14 0.19 0.46 0.24 0.24 0.20 0.19 0.30 0.16 0.19 0.09 0.26 0.16 -0.50 0.18 0.12 FRIDAY, June 27, 2025 Table 5. Contributions of Earnings to Percent Change in Personal Income, by Industry and by State and Region, 2024:Q4–2025:Q1—Table Ends [Percentage points, seasonally adjusted at annual rates] Earnings by industry Real estate and rental and leasing 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 0.07 0.09 0.08 0.09 0.12 0.03 0.04 0.02 0.07 0.02 0.14 0.08 0.05 0.09 0.05 0.05 0.03 0.05 0.02 0.07 0.08 0.05 0.07 0.03 0.05 0.06 0.04 0.08 0.02 0.08 0.07 0.02 0.14 0.08 0.04 0.03 0.03 0.07 0.05 0.06 0.06 0.03 0.11 0.05 0.04 0.07 0.14 0.03 0.01 0.04 0.03 0.08 0.05 0.04 0.01 0.03 0.07 0.12 0.04 0.05 Professional, scientific, and technical services 0.25 0.33 0.22 0.18 0.36 0.59 0.19 0.53 0.31 0.33 1.20 0.05 0.25 0.29 0.47 0.22 0.40 0.07 0.06 0.20 0.28 0.30 0.12 0.35 0.50 0.26 0.13 0.15 0.12 0.23 0.54 0.11 0.35 0.16 0.08 0.14 0.03 0.23 -0.01 0.40 0.07 0.08 0.36 0.19 0.25 0.16 0.43 0.39 0.58 0.18 0.13 0.22 0.22 0.12 0.06 0.09 -0.01 0.16 0.36 0.19 Management of companies and enterprises 0.24 0.37 0.37 0.49 0.39 0.22 0.43 0.15 0.37 0.41 0.26 0.19 0.43 0.25 0.63 0.35 0.30 0.19 0.31 0.52 0.39 0.47 0.33 0.34 0.66 0.49 0.40 0.20 0.20 0.26 0.19 -0.35 0.35 0.52 0.24 0.23 0.22 -0.24 0.19 0.38 0.51 0.14 0.33 0.36 0.10 0.26 0.35 0.32 0.43 0.23 0.07 0.26 0.12 -0.18 0.17 0.06 0.22 0.45 0.40 -1.91 Administrative and support and waste management and remediation services 0.19 -0.27 0.22 0.13 -0.78 0.29 0.20 0.33 0.20 0.21 0.45 0.13 0.18 0.23 0.19 0.18 -0.01 0.32 0.28 0.28 0.15 0.12 0.08 0.06 0.14 0.21 -0.01 0.14 0.11 0.24 0.03 0.09 0.21 0.32 0.27 0.18 0.14 0.39 0.40 0.11 0.26 0.13 0.22 0.37 0.22 0.11 0.20 0.19 0.16 0.22 0.29 0.22 -0.01 0.24 0.16 0.21 0.14 0.47 0.23 0.37 Educational services 0.03 -0.06 -0.14 -0.04 -0.06 0.05 0.06 0.05 0.09 0.02 0.37 0.04 0.09 0.10 0.07 0.01 -0.03 0.02 0.05 0.00 0.01 0.01 0.02 -0.01 0.04 0.01 -0.01 0.01 0.01 0.01 0.02 0.01 0.00 0.10 -0.01 0.03 0.02 0.05 -0.03 -0.03 -0.03 0.00 0.01 0.05 0.00 0.03 0.00 0.01 0.03 -0.04 0.01 0.00 0.01 0.05 0.03 0.06 0.06 -0.03 0.09 0.01 Government Other services Arts, entertainHealth care and Accommodation and (except government ment, and social assistance food services and government recreation enterprises) 0.35 0.22 0.09 0.12 0.33 0.07 0.27 0.08 0.46 0.27 0.12 0.26 0.34 0.54 0.56 0.23 0.21 0.17 0.28 0.25 0.26 0.47 0.26 0.19 0.65 0.55 0.42 0.36 0.45 0.30 0.37 0.29 0.35 0.33 0.14 0.30 0.08 0.32 0.35 0.11 0.36 0.25 0.30 0.29 0.09 0.27 0.32 0.19 0.25 0.17 0.34 0.08 0.02 0.43 0.23 0.49 0.43 0.31 0.30 0.25 0.07 0.09 0.09 0.02 0.10 0.08 0.05 0.13 0.11 0.01 -0.81 0.08 -0.02 0.24 0.09 0.07 0.08 0.04 0.05 0.09 0.05 0.03 0.07 0.03 -0.02 0.07 0.02 0.09 0.05 0.04 0.05 -0.01 0.13 0.02 0.00 0.07 0.05 0.13 0.05 -0.46 0.10 -0.01 0.06 0.07 0.07 0.04 0.06 -0.01 -0.05 0.05 0.00 0.04 0.01 0.12 0.03 0.15 0.14 0.12 0.02 0.06 0.11 0.12 0.10 0.17 0.09 0.10 0.30 0.18 0.15 0.15 0.63 0.10 0.06 0.21 0.12 -0.06 -0.36 0.02 0.07 0.06 0.13 0.08 0.07 0.11 0.02 0.14 0.05 0.05 0.13 0.17 0.11 0.12 0.29 0.10 0.08 0.20 0.25 0.10 0.20 0.15 0.11 0.12 0.11 0.14 0.16 0.11 0.10 0.15 0.18 0.21 0.18 0.06 0.18 0.09 0.17 0.06 0.37 0.27 0.11 0.13 0.08 0.07 0.05 -0.01 0.09 0.09 0.01 0.08 0.08 0.02 0.12 0.09 0.04 0.07 0.11 0.09 0.05 0.13 0.14 0.07 0.14 0.08 0.13 -0.01 0.11 0.06 0.11 0.06 0.06 0.10 0.07 0.06 0.16 0.04 0.03 0.10 0.12 0.14 0.08 0.10 0.05 0.05 0.09 0.13 0.00 0.02 0.09 0.03 -0.01 0.13 0.00 0.09 0.03 0.03 0.16 0.01 0.20 0.10 0.10 0.05 Federal civilian 0.12 0.08 0.04 0.09 0.08 0.06 0.15 0.21 0.17 0.08 3.51 0.37 0.07 0.05 0.09 0.09 0.07 0.09 0.09 0.11 0.04 0.08 0.07 0.11 0.05 0.07 0.13 0.08 0.11 0.15 0.22 0.10 0.13 0.16 0.11 0.11 0.13 0.13 0.15 0.15 0.24 0.23 0.11 0.12 0.09 0.15 0.11 0.11 0.07 0.08 0.09 0.22 0.14 0.08 0.30 0.08 0.18 0.12 0.05 0.08 Military 0.02 0.02 0.04 -0.02 -0.01 0.01 0.19 0.01 0.00 0.03 -0.05 0.02 0.01 -0.01 0.00 0.03 0.11 0.00 0.00 0.01 -0.01 0.00 0.01 0.02 0.01 -0.04 0.02 0.09 0.06 0.05 -0.06 0.02 0.07 0.04 -0.19 -0.11 0.13 0.27 -0.07 0.01 0.06 -0.03 0.03 -0.03 0.05 -0.01 0.04 0.07 0.12 0.01 0.00 0.02 0.05 0.01 -0.17 0.01 0.26 0.00 -0.01 0.01 State and local 0.41 0.26 0.27 0.24 0.22 0.26 0.36 0.53 0.48 0.30 0.51 0.59 0.33 0.62 0.32 0.41 0.48 0.23 0.45 0.34 0.52 0.42 0.57 0.31 0.38 0.42 0.49 0.59 0.35 0.34 0.38 0.24 0.33 0.33 0.34 0.32 0.40 0.39 0.49 0.30 0.32 0.22 0.44 0.32 0.73 0.57 0.43 0.49 0.55 0.25 0.21 0.59 0.38 0.44 0.60 0.47 0.29 0.29 0.54 0.29