Gross State Product for 2019

The US Bureau of Economic Analysis (BEA) released its Gross State Product (GSP) data for 2019 on April 7, 2020.

Usgovernmentspending.com has updated its individual state GSPs for 2019 and projected nominal and real GSP through 2025 for each state using the projected national GDP numbers from Table 10.1 in the Historical Tables for the Federal FY2021 Budget and the historical GDP data series from the BEA as a baseline.

As before we have projected individual state GSPs out to 2025 by applying a factor to reflect each state's deviation from the national growth rate. (E.g. In 2014 the national real GDP expanded by 2.4 percent. But North Dakota grew by 6.3 percent, a deviation of nearly 4 percent. The deviation is reduced by 40 percent for each year after 2014, making the assumption that each state will slowly revert to the national norm.)

Click here to view a complete list of US states and their 2019 GSP growth rates.

Monthly Coronavirus COVID-19 Update

Starting today, April 10, 2020, usgovernmentspending.com is publishing a Coronavirus/COVID-19 update page showing the month-to-month response of the US federal government in spending, revenue, and deficit.

The page uses the Monthly Treasury Statement (MTS) issued by the US Department of the Treasury at 2:00pm on the 8th business day of the month.

For the month of March 2020 the MTS shows the following:

US Federal Finances for March 2020
	FY 2019 $ billion	FY 2020 $ billion	Difference $ billion
Outlays	$375.8	$355.9	-$19.9
Receipts	$228.8	$236.8	+$8.0
Deficit	$147.0	$119.1	-$27.9
Debt Increase	-$86.4	$283.8	+$370.2

Only significance: $370 billion increase in Federal Debt.

Next monthly update will be Monday May 11, 2020.

US Gross Output for 2019 Released

On April 09, 2020, usgovernmentspending.com updated its Gross Output series with the latest data from the Bureau of Economic Analysis, including nominal Gross Output for calendar 2019 of $37.807 trillion. Gross Output for some years previous to 2019 have been revised by BEA.

usgovernmentspending.com reports Gross Output on its Spending Details page and permits charting of spending and revenue as "percent of Gross Output".

The Gross Output series extends back to 1947.

State Finances for 2018

On February 25, 2020 the US Census Bureau released data on state finances for FY 2018 here and here, including spending and revenue for each individual state and for all states combined.

On April 1, 2020 we updated state and local spending and revenue data for FY2018 through FY2025 as follows:

1. We replaced "guesstimated" state spending and revenue data for FY2018 using the new FY2018 data from the Census Bureau.
2. We replaced "guesstimated" local spending and revenue data for FY 2018 with estimates for each spending and revenue category using the trends in state finances between FY 2017 and FY 2018.
3. We replaced "guesstimated" state revenue data for FY 2019 with data from the Census Bureau's quarterly state tax summary here.
4. We replaced "guesstimated" local revenue data for FY 2019 with estimates for each category using trends for each category of state revenue between FY 2017 and FY 2018.
5. We replaced "guesstimated" state and local spending and revenue for FY 2019 thru FY2025 with new guesstimates based on the latest Census Bureau data for FY 2018 state finances and FY 2019 quarterly tax data.

State Finances for FY2018
Estimate vs. Actual

$ billion	Guesstimate	Actual
Spending	$1,839	$1,849
Revenue	$1,963	$1,943

We expect the Census Bureau to release local spending and revenue data for FY 2018 not earlier than Summer 2020.