Thursday, June 6, 2013

Gross State Product Update for 2012

The US Bureau of Economic Analysis released its Gross State Product (GSP) data for 2012 on June 6, 2013. has updated its national GDP for 2012 with data from Measuring Worth. has updated its individual state GSPs for 2012 and projected nominal and real GSP through 2018 for each state using the projected national GDP numbers from Table 10.1 in the Historical Tables for the Federal FY2014 Budget and the historical GDP data series from Measuring Worth as a baseline.

As before we have projected individual state GSPs by applying a factor to reflect each state's deviation from the national growth rate. (E.g. In 2012 the national real GDP expanded by 2.2 percent. But North Dakota grew by 13.4 percent, a deviation of over 11 percent. The deviation is reduced by 40 percent for each year after 2012, assuming that each state will slowly revert to the national norm.)

Click here to view a complete list of US states and their 2012 GSP growth rates.

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