Maris Research

Texas Led GDP Growth in the Third Quarter of 2019

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Real gross domestic product (GDP) increased in 49 states and the District of Columbia, in the third quarter 2019 compared to the previous quarter. Delaware recorded no change during this time. The U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 4.0% in Texas to 0.4% in Hawaii.

Nationwide, real GDP growth increased to 2.1% in the third quarter of 2019, from 2.0% in the previous quarter. Nondurable goods manufacturing; retail trade; and professional, scientific, and technical services were the leading contributors to the real GDP growth in the third quarter.

Regionally, Southwest recorded the highest growth rates for the third quarter of 2019 at 3.5% a slower growth rate compared to the previous quarter rate of 4.3%. Mideastern states reported the lowest growth during this time at 1.2%, down from 1.5% in the second quarter. Year-over-year ending in the third quarter of 2019, Southwest again recorded the highest growth in real GDP at 4.0% while the Great Lakes recorded the lowest gains at 1.0%.

According to the industry statistics, 17 of 22 industry groups contributed to the overall 2.1% increase in real GDP in the third quarter.

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