Thursday, November 18, 2010

Gross State Product Update for 2009

The US Bureau of Economic Analysis released its Gross State Product (GSP) data for 2009 on November 18, 2010. has updated its individual state GSPs and projected state nominal and real GSP through 2015 using projected national GDP growth rates from Table 10.1 in the Historical Tables for the Federal FY2011 Budget.

This year we have projected individual state GSPs by applying a factor to reflect each state's deviation from the national growth rate. (E.g. In 2009 the national real GDP contracted by 2.4 percent. But Oklahoma grew by 6.6 percent, a deviation of about 9.0 percent. The deviation is reduced by 40 percent for each year after 2009, assuming that each state will slowly revert to the national norm.)

Click here to view a complete list of US states and their 2009 GSP growth rates.

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