Gross Domestic Product By State, 4th Quarter 2020 And Annual 2020 .

EMBARGOED UNTIL RELEASE AT 10:00 A.M. EDT, FRIDAY, MARCH 26, 2021Technical:Media:Todd SiebeneckCatherine WangJeannine Aversa(301) 278-9705(301) 278-9670(301) 278-9003BEA s Domestic Product by State, 4th Quarter 2020and Annual 2020 (Preliminary)South Dakota had the largest increase in the fourth quarterReal gross domestic product (GDP) increased in all 50 states and the District of Columbia in the fourthquarter of 2020, as real GDP for the nation increased at an annual rate of 4.3 percent, according tostatistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in thefourth quarter ranged from 9.9 percent in South Dakota to 1.2 percent in the District of Columbia(table 1).

Finance and insurance; healthcare and social assistance; and administrative and support and wastemanagement and remediation services were the leading contributors to the increase in real GDPnationally (table 2).Other highlights Finance and insurance increased 12.9 percent nationally and contributed to the increases in all50 states and the District of Columbia. This industry was the leading contributor to the increasesin 25 states including South Dakota, Texas, Utah, and Connecticut, the states with the fourlargest increases.Healthcare and social assistance increased 8.3 percent nationally and contributed to theincreases in all 50 states and the District of Columbia. This industry was the leading contributorto the increase in seven states including Tennessee, the state with the fifth largest increase.Administrative and support and waste management and remediation services increased 21.1percent nationally and contributed to the increases in all 50 states and the District of Columbia.Accommodation and food services decreased 7.1 percent nationally. This industry moderatedincreases in real GDP in 38 states.Coronavirus (COVID-19) Impact on Fourth-Quarter 2020 and Annual 2020 GDP by State EstimatesThe increases in fourth-quarter GDP by state reflect both the continued economic recovery from thesharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including newrestrictions and closures that took effect in some areas of the United States.The annual 2020 estimates of GDP by state reflect the rapid shifts in activity, as business and schoolsswitched to remote work, consumers and businesses canceled, restricted, or redirected theirspending, governments issued and lifted “stay-at-home” orders and government pandemic assistancepayments were distributed to households and businesses. The full economic effects of the COVID-19pandemic cannot be quantified in the GDP by state estimates because the impacts are generallyembedded in source data and cannot be separately identified.GDP by State, Annual 2020Real GDP decreased in all 50 states and the District of Columbia in 2020. The percent change in real GDPranged from -0.1 percent in Utah to -8.0 percent in Hawaii (table 4).-2-

Accommodation and food services; arts, entertainment, and recreation; and healthcare and socialassistance were the leading contributors to the decrease in real GDP nationally. Accommodation andfood services was the leading contributor to the decrease in Hawaii (table 5).Other highlights Accommodation and food services contributed to the decreases in all 50 states and theDistrict of Columbia. This industry was also the leading contributor to the decreases in 38 statesand the District of Columbia, including New York, the fourth slowest growing state.Both arts, entertainment, and recreation and healthcare and social assistance contributed to thedecreases in all 50 states and the District of Columbia.Construction and finance and insurance were the leading contributors to moderating thedecrease in Utah, the state with the smallest decline.Next release: June 25, 2021, at 10:00 A.M. EDTGross Domestic Product by State, 1st Quarter 2021-3-

Additional InformationResources Statistical conventionsSeasonal adjustment and annual rates. Quarterly valuesare expressed at seasonally-adjusted annual rates. Fordetails, see the FAQ “Why does BEA publish estimates atannual rates?”Information on COVID-19 and recovery impactsis available on our web site.Stay informed about BEA developments byreading The BEA Wire, signing up for BEA’s emailsubscription service, or following BEA on Twitter@BEA News.Historical time series for these estimates can beaccessed in BEA’s Interactive Data Application.Access BEA data by registering for BEA’s DataApplication Programming Interface.For more on BEA’s statistics, see our monthlyonline journal, the Survey of Current Business.BEA's news release schedule.BEA Regional Facts (BEARFACTS): a narrativesummary of personal income, per capitapersonal income, components of income, andgross domestic product for counties,metropolitan statistical areas, and states.Quantities and prices. Quantities, or “real” measures, areexpressed as index numbers with a specified referenceyear equal to 100 (currently 2012). Quantity indexes arecalculated using a Fisher-chained weighted formula thatincorporates weights from two adjacent periods (quartersfor quarterly data and annuals for annual data). “Real”dollar series are calculated by multiplying the quantityindex by the current dollar value in the reference year andthen dividing by 100. Percent changes calculated fromchained-dollar levels and quantity indexes areconceptually the same; any differences are due torounding.Chained-dollar values are not additive because therelative weights for a given period differ from those of thereference year.DefinitionsChained-dollar values of GDP by state are derived byapplying national chain-type price indexes to the currentdollar values of GDP by state for the 21 North AmericanIndustry Classification System -based industry sectors. Thechain-type index formula that is used in the nationalaccounts is then used to calculate the values of total realGDP by state and real GDP by state at more aggregatedindustry levels. Real GDP by state may reflect a substantialvolume of output that is sold to other states and countries.To the extent that a state's output is produced and sold innational markets at relatively uniform prices (or soldlocally at national prices), real GDP by state captures thedifferences across states that reflect the relativedifferences in the mix of goods and services that the statesproduce. However, real GDP by state does not capturegeographic differences in the prices of goods and servicesthat are produced and sold locally.Gross domestic product by state is the market value ofgoods and services produced by the labor and propertylocated in a state. GDP by state is the state counterpart ofthe nation's gross domestic product, the Bureau's featuredand most comprehensive measure of U.S. economicactivity.Current-dollar statistics are valued in the prices of theperiod when the transactions occurred—that is, at“market value.” Also referred to as “nominal GDP” or“current-price GDP.”Real values are inflation-adjusted statistics—that is, theseexclude the effects of price changes.Contributions to growth are an industry’s contribution tothe state’s overall percent change in real GDP. Thecontributions are additive and can be summed to thestate’s overall percent change.List of News Release TablesTable 1. Percent Change from Preceding Period in Real Gross Domestic Product, by State and Region, 2019:Q1–2020:Q4Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2020:Q3–2020:Q4Table 3. Current-Dollar Gross Domestic Product, by State and Region, 2019:Q1–2020:Q4Table 4. Percent Change from Preceding Period in Real Gross Domestic Product, by State and Region, 2017–2020Table 5. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2019–2020-4-

FRIDAY, March 26, 2021Table 1. Percent Change from Preceding Period in Real Gross Domestic Product, by State and Region, 2019:Q1–2020:Q4Seasonally adjusted at annual rates2019Q1United StatesNew EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermontMideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvaniaGreat aKansasMinnesotaMissouriNebraskaNorth DakotaSouth kyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest VirginiaSouthwestArizonaNew MexicoOklahomaTexasRocky MountainColoradoIdahoMontanaUtahWyomingFar WestAlaskaCaliforniaHawaiiNevadaOregonWashingtonp PreliminarySource. U.S. Bureau of Economic .352.235.136.6Q4pRank 2552140.2747382.241336331.93248284549

FRIDAY, March 26, 2021Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2020:Q3–2020:Q4—ContinuesSeasonally adjusted at annual ratesPercentage pointsPercent changein real GDP bystateUnited StatesNew EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermontMideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvaniaGreat aKansasMinnesotaMissouriNebraskaNorth DakotaSouth kyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest VirginiaSouthwestArizonaNew MexicoOklahomaTexasRocky MountainColoradoIdahoMontanaUtahWyomingFar urce. U.S. Bureau of Economic forestry, fishingand .33-0.22-0.07-0.78-0.51Mining,quarrying, andoil and 510.070.620.37Durable 40.730.80Nondurable goodsWholesale .370.330.080.090.10-0.110.600.22-0.16Retail 0.36Transportation .120.060.170.06-0.050.24-0.11Finance 46

FRIDAY, March 26, 2021Table 2. Contributions to Percent Change in Real Gross Domestic Product, by State and Region, 2020:Q3–2020:Q4—Table EndsSeasonally adjusted at annual ratesPercentage pointsReal estate andrental andleasingUnited States0.16New 18New Hampshire0.14Rhode ct of Columbia0.09Maryland0.17New Jersey0.17New York0.15Pennsylvania0.13Great ta0.14Missouri0.13Nebraska0.11North Dakota0.150.08South 0.10North Carolina0.140.16South CarolinaTennessee0.16Virginia0.13West Virginia0.06Southwest0.20Arizona0.14New Mexico0.12Oklahoma0.12Texas0.23Rocky 12Wyoming0.12Far 23Oregon0.16Washington0.16Source. U.S. Bureau of Economic AnalysisProfessional,scientific, .360.410.72Management ofcompanies 0.09Administrative andsupport and wastemanagement andremediation .09-0.18-0.06Health care andsocial Arts,entertainment,and Accomodationand food 4-0.07-0.15-0.190.11-0.100.94-1.37-0.32-0.44Other services (exceptGovernment andgovernment .430.73-0.28-1.02-0.55-0.82-1.02

FRIDAY, March 26, 2021Table 3. Current-Dollar Gross Domestic Product, by State and Region, 2019:Q1–2020:Q4Millions of dollarsSeasonally adjusted at annual s activity 71. Economic activity taking place outside the borders of the United States by the military and associated federal civilian support staff.119,3250.60.60.60.60.6p PreliminarySource. U.S. Bureau of Economic 3,849632,013United StatesNew EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermontMideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvaniaGreat aKansasMinnesotaMissouriNebraskaNorth DakotaSouth kyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest VirginiaSouthwestArizonaNew MexicoOklahomaTexasRocky MountainColoradoIdahoMontanaUtahWyomingFar 3,19194,840174,547249,544600,331Percent of the .53.61.90.40.20.90.220.40.214.70.40.81.23.00.6

FRIDAY, March 26, 2021Table 4. Percent Change in Real Gross Domestic Product, by State and Region, 2017-20202017United StatesNew EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermontMideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvaniaGreat aKansasMinnesotaMissouriNebraskaNorth DakotaSouth kyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest VirginiaSouthwestArizonaNew MexicoOklahomaTexasRocky MountainColoradoIdahoMontanaUtahWyomingFar WestAlaskaCaliforniaHawaiiNevadaOregonWashingtonp PreliminarySource: U.S. Bureau of Economic 3.40.32.72.84.6pRank 1264516103241946.3224823.5420149.42155039172