March 24, 2017

GDP Drops in 38 States

During 2009, the gross domestic product dropped in 38 states, according to an annual report [.pdf] released today from the Bureau of Economic Analysis. Measuring the GDP in states is different than the national GDP because data for each state excludes federal military activity and also civilian activity outside the country. Nevada suffered the greatest decline in the country with a 6.4% drop in GDP. Michigan suffered the next greatest decline with a 5.2% drop. On the other hand, Oklahoma led the country in GDP with a 6.6% rise. Delaware had the greatest per capita GDP in 2009 with an average of $62,080. Mississippi had the lowest per capita GDP in 2009 with an average of $29,634.

For the entire country, the GDP for each state averaged -2.1% in 2009. This average GDP for each state in 2009 is much lower than the 2008 average, which was a meager yet positive 0.1%. This fact indicates the recession had a much greater impact on states in 2009 than in 2008. Among the 8 geographic regions of the country, as the map below shows, the 5 states in the Great Lakes region suffered the greatest decline in GDP with a 3.4% drop. Though, all of the 8 geographic regions recorded a negative GDP average in 2009. The national downturn is mostly attributable to decreased manufacturing of durable goods, as well as decreased construction.

Nevada, Michigan, and New York had the lowest GDPs in 2009.

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