Regional Quarterly Report: GDP, personal income, and more.

By David G. Lenze  |  Volume 98, Number 3  |  March 19, 2018

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The regional statistics released by the Bureau of Economic Analysis (BEA) for the third quarter of 2017 provide insight into current economic trends for states. This report first discusses the range of growth rates in state gross domestic product (GDP), with a look at the contributions to growth of 21 industries. It then presents state personal income statistics, highlighting the contributions to growth of its seven major components.

Real GDP growth averaged 3.4 percent in the third quarter of 2017, ranging from 5.7 percent in Delaware to 0.5 percent in South Dakota (table A).1

  • In 17 states, growth was at least as fast as the average in the third quarter (chart 1). Two of these states (Utah and Washington) grew at the same pace as they did over the previous four quarters, while growth in 15 states accelerated.
  • In eight of the states that grew slower than the U.S. in the third quarter, real GDP growth slowed, compared with growth in the previous four quarters. Real GDP in Hawaii, for example, grew 1.3 percent in the third quarter, down from an average 1.5 percent from the second quarter of 2016 to the second quarter of 2017.
  • In the remaining states, third-quarter real GDP growth accelerated, compared with the average of the prior four quarters (or in the case of West Virginia, remained the same) but was below the national average.2
Chart 1. Map of Percent Change in Real Gross Domestic Product, GDP, by State

[Click Chart to Expand]

Industry contributions to GDP growth

Highlights include the following:

  • Real GDP growth in Delaware (5.7 percent) was the fastest in the country and reflected strong growth in the finance industry, (table B). In contrast, the net contribution of all other industries to real GDP growth in Delaware was 1.1 percentage points. Almost one-third of Delaware's GDP is produced by the finance industry.
  • Finance also contributed more than half of the real GDP growth in New York (2.6 percentage points), making it the fifth fastest growing state in the third quarter. The finance industry accounts for 18.0 percent of New York's GDP.
  • Finance contributed 2.3 percentage points to real GDP growth in Iowa. However, declines primarily in agriculture, construction, and nondurable-goods manufacturing offset growth in other industries. The result was that Iowa's 2.2 percent growth was slower than average in the third quarter, ranking 39th.
  • South Dakota was the slowest growing state in the third quarter; real GDP increased only 0.5 percent. Agriculture subtracted 2.7 percentage points, and construction subtracted 0.4 percentage point from real GDP growth.
  • Louisiana's 1.1 percent real GDP growth exceeded only South Dakota's growth in the third quarter, but it was enough to bring real GDP to its highest level in more than 5 years. Louisiana's real GDP was $213.3 billion in the second quarter of 2012 and $210.3 billion in the third quarter of 2017.
  • Real GDP grew 5.0 percent in Texas in the third quarter. This was faster than its average over the previous four quarters (2.9 percent) and faster than the U.S. average (3.4 percent). Mining contributed 1.3 percentage points to Texas' real GDP growth in the third quarter, finance contributed 0.8 percentage point, durable-goods manufacturing contributed 0.7 percentage point, and wholesale trade contributed 0.5 percentage point. The broad-based growth in Texas, where multiple industries contributed a half percentage point or more to growth, contrasts with Delaware, where only two industries, finance and health care, contributed more than 0.2 percentage point to growth.
  • Mining contributed 2.1 percentage points to real GDP growth in Wyoming, 1.9 percentage points in North Dakota, and 1.5 percentage points in West Virginia. Even so, all three states grew slower than the national average in the third quarter.
  • The information industry contributed 1.3 percentage points to the state of Washington's 4.3 percent third-quarter real GDP growth rate. Retail trade and finance contributed 0.5 percentage point or more to real GDP growth. Not only did Washington grow faster than all but three states in the third quarter, its average growth over the previous four quarters was the highest of all states.
  • Hawaii and New Mexico were two of the slowest growing states in the third quarter, with real GDP growing only 1.3 percent and 1.7 percent, respectively. Growth in both states slowed, compared with their average 1.5 percent and 1.9 percent growth rates, over the previous four quarters, rates which were also below the national average. In both states, third-quarter real GDP declined in the construction, nondurable-goods manufacturing, wholesale trade, real estate, accommodation services, and government industries.

Table A. Real Gross Domestic Product (GDP) by State
[Seasonally adjusted at annual rates]

  Share of current-
dollar U.S. GDP		 Percent change in real GDP from previous quarter
2017:III 2016:II 2016:III 2016:IV 2017:I 2017:II 2017:III
United States 100.0 1.9 2.7 1.7 1.0 2.8 3.4
Alabama 1.1 2.4 0.0 2.5 4.1 2.5 2.7
Alaska 0.3 −7.6 −3.6 −3.9 −0.8 4.8 1.9
Arizona 1.7 2.7 8.1 −0.2 1.4 3.1 2.9
Arkansas 0.7 2.5 −2.6 4.8 4.0 3.5 2.0
California 14.2 3.7 5.0 2.9 0.6 2.1 3.4
Colorado 1.8 2.6 6.2 1.9 2.7 3.8 3.7
Connecticut 1.4 −0.4 −0.6 −2.1 −4.4 1.4 3.9
Delaware 0.4 4.9 6.4 2.2 2.5 0.4 5.7
District of Columbia 0.7 0.2 0.8 −0.2 5.1 2.2 2.5
Florida 5.0 4.1 5.2 1.5 2.0 3.6 3.0
Georgia 2.9 −1.0 4.3 3.7 1.1 3.0 3.2
Hawaii 0.5 1.9 1.3 0.3 3.0 1.5 1.3
Idaho 0.4 4.4 3.7 4.2 0.9 2.7 2.8
Illinois 4.3 0.5 0.6 2.3 −1.9 2.2 3.5
Indiana 1.9 2.3 4.5 3.7 −0.8 1.7 2.7
Iowa 1.0 2.7 2.5 −0.5 −1.6 −0.7 2.2
Kansas 0.8 2.6 1.3 0.3 −5.7 1.5 2.1
Kentucky 1.1 7.0 5.8 −0.3 −1.2 3.7 2.2
Louisiana 1.3 −0.3 0.1 −2.5 2.0 3.2 1.1
Maine 0.3 2.9 −0.2 −0.2 2.4 2.0 3.2
Maryland 2.1 4.8 3.0 3.0 −2.6 2.4 2.6
Massachusetts 2.7 1.7 5.1 −1.6 4.3 2.0 3.8
Michigan 2.7 5.5 3.2 4.1 −0.1 5.5 3.5
Minnesota 1.8 5.8 5.5 4.1 0.7 1.2 2.4
Mississippi 0.6 −0.8 0.2 1.7 1.2 3.0 2.7
Missouri 1.6 1.4 −0.7 1.8 −2.1 3.0 3.6
Montana 0.2 −1.2 1.3 5.4 −2.9 0.6 2.0
Nebraska 0.6 3.6 3.4 −1.8 −4.5 1.1 1.9
Nevada 0.8 0.7 10.0 −2.0 0.5 3.8 3.3
New Hampshire 0.4 1.1 2.3 −7.3 5.3 2.9 4.4
New Jersey 3.1 −2.2 4.0 −0.3 −2.1 2.3 2.7
New Mexico 0.5 1.1 0.0 2.0 1.2 4.5 1.7
New York 8.1 1.7 −4.2 3.3 2.3 1.2 4.0
North Carolina 2.8 0.7 2.6 4.8 −0.5 2.3 3.0
North Dakota 0.3 −2.5 −2.9 −0.4 −3.7 8.3 1.7
Ohio 3.4 3.4 4.8 0.2 1.3 2.0 3.9
Oklahoma 1.0 −2.2 −5.5 −1.5 4.9 5.5 2.8
Oregon 1.2 2.3 −0.1 5.4 −0.6 2.9 3.8
Pennsylvania 3.9 3.2 5.0 −0.5 0.3 2.5 3.2
Rhode Island 0.3 4.4 5.4 −4.3 0.8 2.3 3.5
South Carolina 1.1 2.1 0.7 5.0 1.5 2.4 2.9
South Dakota 0.3 5.2 1.5 −2.9 −5.9 −0.3 0.5
Tennessee 1.8 2.7 4.9 2.9 −1.1 3.0 3.0
Texas 8.8 −0.4 1.8 −0.7 4.5 6.2 5.0
Utah 0.9 1.2 5.9 4.5 1.3 3.9 3.9
Vermont 0.2 −1.5 2.4 −1.3 0.9 2.5 3.4
Virginia 2.7 2.3 2.0 1.3 1.7 1.5 2.3
Washington 2.6 1.0 3.6 8.3 2.7 2.7 4.3
West Virginia 0.4 −2.1 2.7 0.0 5.0 4.1 2.9
Wisconsin 1.7 0.3 5.4 −1.1 1.0 2.5 3.2
Wyoming 0.2 −11.0 −2.5 1.7 6.3 7.6 2.5

 

Table B. Contributions to Percent Change in Real GDP by Industry and by State, 2017:II–2017:III
[Seasonally adjusted at annual rates]

  Percent change in real GDP Percentage points
Agriculture, forestry, fishing, and hunting Mining Utilities Construction Durable-goods manufacturing Nondurable-goods manufacturing Wholesale trade Retail trade Transportation and warehousing Information Finance and insurance Real estate and rental and leasing Professional, scientific, and technical services Management of companies and enterprises Administrative and waste management services Educational services Health care and social assistance Arts, entertainment, and recreation Accomodation and food services Other services, except government Government
United States 3.4 −0.04 0.31 −0.19 −0.11 0.92 −0.44 0.43 0.73 0.06 0.85 2.09 0.11 0.38 0.15 0.26 0.07 0.72 0.10 0.04 0.14 0.07
Alabama 2.7 0.14 0.06 −0.17 0.04 0.85 −0.27 0.17 0.38 −0.02 0.15 0.76 −0.28 0.14 0.04 0.10 −0.02 0.36 0.01 0.08 0.09 0.13
Alaska 1.9 0.28 0.24 −0.05 0.31 0.02 0.00 −0.08 0.30 0.60 0.22 0.17 −0.57 0.05 0.06 0.31 −0.01 0.09 0.02 −0.01 0.08 −0.16
Arizona 2.9 0.15 0.03 −0.03 −0.14 0.58 −0.07 0.14 0.53 0.08 0.07 0.97 −0.42 0.28 0.02 0.18 0.06 0.34 −0.02 0.02 0.06 0.07
Arkansas 2.0 −0.44 0.00 −0.13 0.07 0.38 −0.08 0.48 0.51 0.02 0.27 0.47 −0.25 0.11 −0.01 0.12 0.06 0.40 0.00 0.05 0.06 −0.09
California 3.4 0.19 0.01 −0.07 −0.04 0.46 −0.25 0.18 0.39 0.00 0.94 0.67 0.05 0.12 0.07 0.11 0.04 0.33 0.08 0.01 0.08 0.04
Colorado 3.7 −0.11 −0.11 −0.07 −0.10 0.21 −0.06 0.18 0.42 0.02 0.77 0.85 0.42 0.36 0.05 0.20 −0.06 0.49 0.04 −0.07 0.06 0.22
Connecticut 3.9 0.02 0.00 −0.14 −0.19 0.58 −0.19 0.27 0.36 0.05 0.47 1.63 0.13 0.17 0.06 0.16 0.06 0.38 0.08 −0.02 0.09 −0.08
Delaware 5.7 (D) (D) −0.08 −0.06 0.13 −0.19 0.08 0.23 −0.10 0.13 4.57 0.04 0.19 0.07 0.09 0.01 0.35 0.02 0.02 0.04 0.08
District of Columbia 2.5 0.00 0.00 −0.06 −0.04 0.01 −0.01 0.03 0.10 −0.11 0.32 0.69 0.33 0.42 0.02 0.18 0.27 0.12 0.03 0.13 0.15 −0.09
Florida 3.0 −0.06 0.01 −0.11 0.01 0.26 −0.11 0.26 0.46 0.02 0.39 0.86 0.13 0.22 0.08 0.12 −0.01 0.37 0.02 −0.09 0.13 0.05
Georgia 3.2 0.10 0.01 −0.12 −0.26 0.29 −0.31 0.32 0.32 0.06 0.58 1.15 0.00 0.19 0.08 0.17 0.01 0.35 0.01 0.05 0.07 0.15
Hawaii 1.3 0.14 0.00 0.04 −0.28 0.05 −0.09 −0.14 0.87 0.05 0.01 0.28 −0.51 0.25 0.12 0.42 −0.01 0.56 0.00 −0.05 0.05 −0.48
Idaho 2.8 −0.22 0.05 −0.05 −0.05 0.54 −0.05 0.24 0.71 0.07 0.22 0.50 −0.27 0.11 0.03 0.20 0.03 0.34 0.04 −0.01 0.03 0.30
Illinois 3.5 0.12 0.02 −0.09 −0.06 0.41 −0.33 0.25 0.25 0.07 0.24 1.43 0.27 0.13 0.11 0.20 0.01 0.28 0.07 0.00 0.07 0.05
Indiana 2.7 −0.24 0.00 −0.11 0.01 1.45 −0.61 0.18 0.34 −0.04 0.11 0.90 −0.33 0.14 0.07 0.09 0.03 0.41 0.03 −0.02 0.08 0.24
Iowa 2.2 −1.63 0.01 −0.09 −0.39 0.89 −0.19 0.23 0.36 0.04 0.17 2.26 0.10 −0.03 0.02 0.13 0.02 0.25 0.04 0.06 0.00 −0.03
Kansas 2.1 −0.53 0.05 −0.09 0.08 0.50 −0.32 0.10 0.40 −0.03 0.15 0.88 0.10 0.14 0.07 0.20 0.00 0.34 −0.01 −0.05 0.07 0.11
Kentucky 2.2 −0.43 0.04 −0.07 0.02 0.56 −0.34 0.13 0.37 0.08 0.19 0.66 0.00 0.15 0.05 0.16 0.00 0.37 0.01 −0.01 0.08 0.17
Louisiana 1.1 −0.07 0.35 −0.10 0.05 0.20 −0.92 0.30 0.37 −0.19 0.26 0.55 −0.28 0.01 0.01 0.14 −0.01 0.33 0.03 0.11 0.07 −0.13
Maine 3.2 0.11 0.00 −0.14 −0.08 0.26 −0.12 0.21 0.50 0.01 0.15 0.81 0.20 0.18 0.09 0.22 0.02 0.54 0.11 0.10 0.02 0.00
Maryland 2.6 −0.03 0.00 −0.14 0.07 0.20 −0.18 0.06 0.32 −0.03 0.34 0.67 0.16 0.36 0.06 0.15 0.04 0.46 0.08 0.04 0.05 −0.10
Massachusetts 3.8 0.04 0.01 −0.14 −0.02 0.47 −0.15 0.21 0.27 −0.03 0.45 1.23 0.10 0.35 0.10 0.13 0.08 0.46 0.08 0.04 0.07 0.02
Michigan 3.5 −0.07 0.03 −0.10 −0.07 1.02 −0.29 0.23 0.41 0.12 0.21 0.80 0.24 0.28 0.07 −0.02 0.03 0.33 0.01 0.00 0.05 0.26
Minnesota 2.4 −0.62 0.07 −0.10 0.03 0.68 −0.23 0.10 0.38 0.09 0.20 1.04 −0.33 0.05 0.18 0.11 −0.04 0.52 0.04 0.06 0.06 0.07
Mississippi 2.7 −0.11 0.02 −0.17 0.06 0.76 −0.28 0.29 0.56 0.08 0.14 0.57 −0.17 0.06 0.04 0.08 0.04 0.38 0.04 0.02 0.01 0.23
Missouri 3.6 −0.11 0.02 −0.11 −0.06 0.53 −0.29 0.16 0.38 0.02 0.32 1.13 0.03 0.28 0.13 0.09 0.01 0.44 0.03 0.06 0.09 0.42
Montana 2.0 −0.53 0.20 −0.12 −0.03 0.10 −0.16 0.14 0.46 0.00 0.15 0.69 −0.15 0.15 0.02 0.10 0.01 0.49 0.11 0.04 0.02 0.34
Nebraska 1.9 −0.80 0.01 −0.23 −0.13 0.30 −0.19 0.06 0.31 0.05 0.17 1.44 −0.15 0.05 0.05 0.30 0.03 0.30 0.06 0.02 0.10 0.13
Nevada 3.3 −0.01 0.06 −0.11 0.37 0.30 −0.04 −0.12 0.43 −0.06 0.26 0.67 −0.25 0.31 0.20 0.34 −0.01 0.46 0.18 −0.17 0.06 0.40
New Hampshire 4.4 0.02 0.01 −0.07 0.04 0.66 −0.11 0.20 0.45 0.14 0.28 1.30 0.44 0.20 0.05 0.13 0.02 0.41 0.02 0.01 0.10 0.06
New Jersey 2.7 0.03 0.00 −0.15 0.04 0.21 −0.23 0.07 0.39 0.04 0.27 0.79 0.33 0.13 0.06 0.13 0.03 0.33 0.10 0.10 0.06 −0.04
New Mexico 1.7 0.16 0.35 −0.09 −0.26 0.14 −0.08 −0.01 0.52 0.02 0.25 0.45 −0.12 0.12 0.02 0.08 0.05 0.25 0.03 −0.05 −0.04 −0.14
New York 4.0 0.01 0.00 −0.12 −0.09 0.02 −0.16 0.09 0.21 0.13 0.59 2.58 −0.38 0.25 0.09 0.16 0.16 0.34 0.06 0.12 0.05 −0.10
North Carolina 3.0 0.07 0.01 −0.10 −0.11 0.59 −0.54 0.20 0.33 0.04 0.26 1.09 0.04 0.19 0.10 0.18 0.04 0.35 0.03 0.03 0.05 0.17
North Dakota 1.7 −1.02 1.92 −0.11 −0.54 0.06 −0.10 0.42 0.40 0.10 0.08 0.57 −0.48 −0.11 0.02 0.23 0.00 0.38 −0.01 −0.04 0.04 −0.06
Ohio 3.9 −0.09 0.06 −0.10 0.02 0.65 −0.33 0.25 0.31 0.05 0.17 1.35 0.53 0.08 0.14 0.15 0.01 0.43 0.09 0.03 0.06 0.05
Oklahoma 2.8 −0.29 0.50 −0.18 0.24 0.45 −0.39 0.03 0.49 0.07 0.21 0.67 0.17 0.06 −0.05 0.19 0.03 0.47 0.05 0.03 −0.07 0.05
Oregon 3.8 0.04 0.01 −0.06 0.21 1.81 −0.04 0.09 0.31 0.12 0.34 0.54 −0.55 0.16 0.11 −0.03 0.08 0.44 0.04 0.05 0.01 0.15
Pennsylvania 3.2 0.03 0.16 −0.09 −0.05 0.39 −0.24 0.19 0.30 0.01 0.50 0.91 −0.09 0.22 0.15 0.13 0.05 0.47 0.07 0.05 0.05 0.03
Rhode Island 3.5 (D) (D) −0.06 0.12 0.36 −0.13 0.30 0.36 −0.02 0.23 1.36 −0.04 0.08 0.20 0.14 −0.03 0.44 0.12 0.14 0.05 −0.18
South Carolina 2.9 −0.02 0.01 −0.12 −0.14 0.75 −0.25 0.25 0.42 0.00 0.22 0.59 0.16 0.15 0.04 0.22 0.02 0.34 0.01 0.03 0.07 0.19
South Dakota 0.5 −2.73 0.01 −0.10 −0.35 0.51 −0.12 0.19 0.35 0.16 0.28 1.73 −0.07 0.05 0.04 0.05 0.00 0.36 0.01 −0.04 0.08 0.12
Tennessee 3.0 −0.25 0.02 −0.04 −0.07 0.67 −0.31 0.27 0.47 0.04 0.26 0.72 0.04 0.11 0.10 0.17 0.02 0.45 0.13 0.04 0.07 0.02
Texas 5.0 0.12 1.30 −0.09 −0.21 0.74 −0.01 0.55 0.36 −0.03 0.18 0.83 0.43 0.26 0.02 0.11 0.00 0.24 0.01 −0.02 0.12 0.10
Utah 3.9 0.06 −0.05 −0.08 0.06 0.48 −0.14 0.18 0.49 −0.01 0.15 1.39 0.19 0.26 0.03 0.17 0.01 0.36 0.05 0.00 0.14 0.16
Vermont 3.4 0.04 0.06 −0.10 −0.04 0.40 −0.14 0.16 0.47 0.02 0.22 0.81 0.23 0.15 0.04 0.17 0.06 0.58 0.07 0.06 0.07 0.07
Virginia 2.3 −0.02 0.00 −0.07 −0.04 0.24 −0.24 0.14 0.29 −0.01 0.22 0.82 −0.26 0.37 0.09 0.12 0.02 0.35 0.02 0.03 0.08 0.11
Washington 4.3 0.18 0.01 0.01 0.06 −0.22 −0.06 0.36 0.61 0.02 1.29 0.50 0.45 0.25 0.09 0.04 0.01 0.35 0.03 −0.03 0.05 0.30
West Virginia 2.9 −0.21 1.48 −0.16 −0.07 0.11 −0.15 −0.13 0.29 −0.18 0.09 0.35 0.37 0.19 0.02 −0.05 0.04 0.53 −0.02 0.06 0.02 0.36
Wisconsin 3.2 −0.01 0.04 −0.11 −0.05 0.82 −0.30 0.16 0.36 0.08 0.23 1.11 0.03 0.03 0.12 0.12 0.05 0.39 0.02 0.04 0.06 −0.01
Wyoming 2.5 −0.85 2.08 −0.18 −0.20 0.08 −0.20 0.32 0.37 −0.05 0.07 0.48 0.49 0.01 −0.01 0.02 0.01 0.10 0.00 0.02 0.03 −0.14
(D)
Data are suppressed to avoid disclosure of confidential information.

Personal income growth, which is adjusted for residence but not for price changes, accelerated in 25 states in the third quarter of 2017 (table C).3 On average, state personal income grew 2.7 percent, up from 2.4 percent in the second quarter.4 Growth rates ranged from 4.1 percent in the state of Washington to 0.3 percent in South Dakota.

  • Compensation of employees, the largest component of personal income, grew 3.7 percent on average in the third quarter of 2017, up from 3.1 percent in the second quarter of 2017.5 Compensation grew in every state in the third quarter, in contrast to the second quarter, when compensation fell in 14 states.
  • Compensation grew 3.9 percent in Delaware after falling 10.3 percent in the second quarter. The small rebound left Delaware's compensation 0.7 percent below its year-ago level. Likewise, third-quarter compensation growth in the District of Columbia, New Hampshire, New Mexico, and West Virginia was not sufficient to offset declines in compensation in the second quarter.
  • Compensation growth slowed in Idaho to 4.4 percent in the third quarter from 11.3 percent in the second quarter. About half the second-quarter gain was in state and local government. In the third quarter, the private sector accounted for 80 percent of compensation growth.
  • Proprietors' income, which represents the income earned from current production by unincorporated businesses that is received by persons, rose 0.7 percent in the third quarter in the United States after falling 0.5 percent in the second quarter. In the third quarter, Nevada's proprietors' income grew the fastest (4.7 percent), while South Dakota's fell the most (10.6 percent). Farm proprietors' income fell in every state, while nonfarm proprietors' income rose in every state (table E).
  • Property income growth (dividends, interest, and rent) slowed to 0.8 percent in the third quarter from 3.1 percent in the second quarter (table D). It fell 0.8 percent in Rhode Island but grew (or was unchanged) in every other state. Personal dividend income grew 1.7 percent, personal interest income fell 1.1 percent, and the rental income of persons increased 3.6 percent.
  • Personal current transfer receipts, which consist primarily of Social Security, Medicare, and Medicaid benefits, grew 2.9 percent in the third quarter, an acceleration from the 0.7 percent growth in the second quarter. The growth was fastest in the state of Washington, where transfer receipts grew 6.3 percent. A 25.7 percent increase in Medicaid transfer receipts accounted for the bulk of the increase in Washington. Nevertheless, Medicaid transfer receipts remain below the peak reached in Washington in the fourth quarter of 2016.
  • Transfer receipts also grew rapidly in the third quarter in Texas (5.2 percent) and Florida (4.7 percent). The estimate for Texas includes a $2.0 billion special factor for disaster assistance related to Hurricane Harvey. The estimate for Florida includes a $1.6 billion special factor for Hurricane Irma.
  • Contributions for government social insurance, a subtraction in the derivation of personal income, grew 3.8 percent in the third quarter after rising 3.1 percent in the second quarter. The largest increase was in the state of Washington (5.1 percent), the state with the largest increase in compensation.6 The smallest increase was in New Mexico (1.8 percent), which had the smallest percentage increase in compensation.
  • The residence adjustment for the District of Columbia fell $397 million in the third quarter after rising $623 million in the second quarter (table E). The residence adjustment for the District of Columbia typically falls over time. The relatively large second-quarter increase reflected the 3.4 percent fall in compensation in the District (reducing outflows) at the same time that compensation continued to grow in Maryland (4.3 percent) and Virginia (2.0 percent) (increasing flows into the District).

Table C. Percent Change in Personal Income and Select Components by State
[Seasonally adjusted at annual rates]

  Personal income Compensation1 Proprietors' income with IVA and CCAdj
2017:II 2017:III 2017:II 2017:III 2017:II 2017:III
United States 2.4 2.7 3.1 3.7 −0.5 0.7
Alabama 1.5 2.6 1.8 3.1 −4.8 0.9
Alaska 0.1 3.2 −2.1 3.7 −2.1 3.4
Arizona 0.5 2.8 −1.6 3.6 −0.3 1.0
Arkansas 1.5 2.2 1.9 3.7 −7.9 −6.2
California 5.2 2.4 7.7 3.3 1.5 1.1
Colorado 2.8 2.0 4.0 2.5 −1.3 0.7
Connecticut 2.1 2.2 3.0 3.6 1.7 1.3
Delaware −3.3 2.7 −10.3 3.9 −1.1 −0.3
District of Columbia 0.2 2.6 −3.4 3.3 2.4 1.8
Florida 1.7 2.8 0.0 3.3 −0.2 0.6
Georgia 1.4 2.6 0.8 3.7 −1.0 0.1
Hawaii 1.3 2.1 0.5 2.1 −1.8 1.5
Idaho 6.2 2.8 11.3 4.4 0.8 −1.9
Illinois 1.2 2.3 2.0 3.5 −2.8 0.5
Indiana 1.1 2.7 −0.7 4.1 −7.6 −3.5
Iowa 0.7 1.3 4.3 3.5 −14.6 −9.1
Kansas 0.5 1.3 −0.1 2.9 −4.4 −5.7
Kentucky 1.2 2.6 1.6 3.6 −6.3 −0.1
Louisiana 0.3 2.2 −1.2 3.3 −3.3 0.4
Maine −1.0 2.1 −2.6 3.4 −2.6 1.3
Maryland 2.8 2.6 4.3 3.8 −0.2 0.7
Massachusetts 1.8 3.0 2.6 3.9 0.7 3.3
Michigan −0.1 2.8 −1.3 3.7 −0.2 0.6
Minnesota 0.7 1.9 1.1 2.8 −8.2 −4.0
Mississippi −2.0 2.5 −3.4 4.0 −8.8 −3.5
Missouri 2.9 2.9 5.0 4.5 −5.3 −0.8
Montana 3.3 2.7 5.8 4.5 −3.2 −2.9
Nebraska 2.3 1.0 6.1 3.6 −10.4 −8.9
Nevada 3.3 3.4 3.2 4.3 5.4 4.7
New Hampshire −0.6 2.9 −4.5 3.9 3.5 4.0
New Jersey 3.6 2.4 5.5 2.5 0.2 3.0
New Mexico −1.6 0.9 −3.4 1.7 2.3 −0.7
New York 2.3 2.9 2.4 3.5 0.5 2.2
North Carolina 3.2 2.8 4.4 4.0 −1.2 −0.1
North Dakota 7.1 1.9 15.2 3.5 −12.3 −5.8
Ohio 0.7 3.2 2.1 3.9 2.8 1.0
Oklahoma 3.5 2.6 5.2 4.1 1.5 1.3
Oregon 5.5 2.9 9.7 3.8 1.9 2.8
Pennsylvania 2.8 3.3 3.2 4.0 3.9 1.9
Rhode Island 2.7 2.5 4.9 3.7 0.0 4.2
South Carolina 1.7 2.6 1.4 3.9 1.1 0.6
South Dakota 1.6 0.3 2.7 3.1 −3.5 −10.6
Tennessee 2.6 2.3 3.1 3.6 −0.7 3.1
Texas 2.2 3.8 4.5 4.9 0.2 1.3
Utah 1.7 3.2 1.3 4.0 1.4 2.5
Vermont −0.8 2.2 −3.0 3.8 0.6 1.6
Virginia 1.6 2.8 2.0 3.7 0.2 2.6
Washington 4.5 4.1 6.6 5.2 −1.5 1.1
West Virginia −1.9 2.4 −4.7 3.4 4.2 1.4
Wisconsin 0.4 2.3 −0.8 3.6 0.2 −0.9
Wyoming 3.5 1.5 6.5 3.0 −1.2 −1.2
IVA
Inventory valuation adjustment
CCAdj
Capital consumption adjustment
  1. Compensation is by place of work.

 

Table D. Percent Change in Select Components of Personal Income by State
[Seasonally adjusted at annual rates]

  Dividends, interest, and rent Personal current transfer receipts Contributions for government social insurance
2017:II 2017:III 2017:II 2017:III 2017:II 2017:III
United States 3.1 0.8 0.7 2.9 3.1 3.8
Alabama 2.4 0.2 2.0 3.9 1.7 3.2
Alaska 2.7 0.4 6.3 5.1 −2.5 4.2
Arizona 2.6 0.6 4.1 3.5 −1.3 3.8
Arkansas 4.6 1.7 0.7 2.1 2.2 3.8
California 3.3 1.1 1.3 2.1 7.7 3.4
Colorado 3.0 0.8 0.4 2.8 3.6 2.7
Connecticut 2.0 0.0 −0.1 1.5 4.5 3.7
Delaware 2.8 0.9 3.3 2.6 −8.9 3.8
District of Columbia 1.9 0.8 1.8 2.6 −2.9 3.4
Florida 3.4 0.9 3.8 4.7 0.2 3.4
Georgia 3.8 1.2 1.9 1.7 0.8 3.7
Hawaii 2.4 0.9 4.1 4.0 0.1 2.4
Idaho 4.0 1.2 −0.5 3.6 10.5 4.4
Illinois 2.5 0.1 −1.5 1.1 2.2 3.7
Indiana 3.9 1.0 8.5 2.8 −0.8 4.1
Iowa 3.3 0.8 −4.9 0.0 4.1 3.6
Kansas 3.4 0.8 0.5 0.6 −0.7 3.1
Kentucky 3.5 1.0 0.6 2.1 1.0 3.7
Louisiana 3.1 0.2 3.1 1.8 −0.7 3.6
Maine 2.6 0.6 0.6 0.5 −2.0 3.6
Maryland 1.8 0.3 5.7 2.3 4.2 3.9
Massachusetts 3.3 0.9 −2.8 2.0 1.6 4.1
Michigan 4.9 2.1 −1.0 1.9 −1.5 3.7
Minnesota 4.0 1.1 −1.0 2.7 0.8 2.9
Mississippi 2.6 0.2 −0.8 2.9 −3.2 4.1
Missouri 3.9 1.3 0.1 1.6 4.6 4.5
Montana 2.7 0.2 1.5 4.5 6.1 4.5
Nebraska 3.3 0.5 1.2 2.4 6.2 3.7
Nevada 3.7 1.2 2.5 3.2 3.6 4.4
New Hampshire 2.8 1.1 2.5 0.5 −4.4 4.0
New Jersey 2.8 0.8 1.8 3.1 4.6 2.7
New Mexico 2.9 0.9 −2.1 −0.6 −2.7 1.8
New York 2.4 0.5 2.5 4.3 2.8 3.7
North Carolina 2.5 0.4 2.2 2.9 4.0 4.1
North Dakota 4.7 1.8 −1.8 1.2 15.4 3.6
Ohio 3.7 1.0 −6.2 3.7 2.1 4.1
Oklahoma 3.2 0.5 1.3 1.7 5.7 4.4
Oregon 3.3 1.1 −1.3 2.2 9.6 3.8
Pennsylvania 2.6 0.5 1.9 4.7 3.3 4.1
Rhode Island 1.3 −0.8 0.1 1.7 4.6 3.8
South Carolina 3.3 1.1 0.9 1.2 1.2 3.9
South Dakota 3.1 0.4 0.7 1.4 2.5 3.1
Tennessee 2.6 1.0 3.4 −0.5 2.8 3.7
Texas 3.0 0.7 −5.0 5.2 4.7 4.9
Utah 3.2 0.6 1.4 3.8 0.9 4.1
Vermont 3.5 1.2 0.1 −0.2 −2.5 4.0
Virginia 2.3 0.6 1.5 2.4 2.0 3.8
Washington 3.3 1.1 1.5 6.3 7.0 5.1
West Virginia 2.5 0.7 −2.1 1.6 −4.6 3.3
Wisconsin 4.1 1.2 0.9 1.0 0.2 3.7
Wyoming 2.7 0.6 −0.7 1.0 6.7 3.2

 

Table E. Change in Personal Income by Component and by State
[Change from previous quarter (millions of dollars), seasonally adjusted at annual rates]

  2017:II 2017:III
Personal income Compensation1 Proprietors' income with IVA and CCAdj Dividends, interest, and rent Personal current transfer receipts Contributions for government social insurance Adjustment for residence Personal income Compensation1 Proprietors' income with IVA and CCAdj Dividends, interest, and rent Personal current transfer receipts Contributions for government social insurance Adjustment for residence
Farm Nonfarm Farm Nonfarm
United States 94,703 77,145 −4,949 3,242 23,931 5,056 9,703 −20 109,980 92,704 −5,624 8,052 6,585 20,337 12,057 −16
Alabama 703 515 −51 −112 199 223 63 −7 1,256 875 −84 113 17 430 121 25
Alaska 10 −144 −1 −18 48 104 −20 1 329 240 −1 31 8 85 32 −2
Arizona 349 −706 −51 36 358 603 −73 37 2,023 1,573 −61 108 88 514 213 13
Arkansas 453 320 −195 20 299 53 50 6 669 624 −191 58 114 152 89 −1
California 28,879 26,415 −538 1,343 3,811 1,123 3,170 −104 13,935 11,680 −495 1,079 1,341 1,815 1,467 −18
Colorado 2,078 1,866 −25 −68 471 38 211 6 1,464 1,164 −95 148 127 270 158 8
Connecticut 1,315 1,021 −1 110 271 −12 186 113 1,395 1,217 −5 91 3 125 154 118
Delaware −390 −848 −9 −1 58 79 −94 237 313 294 −12 9 19 63 38 −23
District of Columbia 31 −786 0 41 45 30 −77 623 340 728 0 31 21 44 87 −397
Florida 4,000 −3 −31 1 2,177 1,853 28 31 6,740 4,327 −352 424 607 2,278 576 32
Georgia 1,518 597 −107 15 709 360 72 18 2,902 2,689 −132 139 232 325 337 −15
Hawaii 241 57 1 −24 91 117 1 0 380 247 −1 21 35 115 36 0
Idaho 1,035 1,031 −41 56 138 −15 140 6 488 419 −83 45 44 113 62 13
Illinois 2,040 2,191 −183 −161 839 −389 281 24 3,774 3,865 −177 240 43 284 480 0
Indiana 834 −330 −428 −93 419 1,157 −49 60 1,936 1,861 −306 71 109 405 242 38
Iowa 268 958 −335 −140 219 −316 122 3 471 793 −307 28 55 2 108 8
Kansas 188 −30 −49 −117 223 26 −20 113 442 604 −258 48 54 31 83 46
Kentucky 538 455 −72 −94 236 68 35 −19 1,123 980 −86 83 69 222 136 −9
Louisiana 156 −355 −134 −10 263 352 −23 17 1,096 978 −90 108 14 212 125 0
Maine −151 −229 −9 −20 68 20 −24 −4 313 297 −12 27 15 18 42 10
Maryland 2,439 2,256 −21 7 307 705 276 −539 2,282 1,985 −39 92 43 296 261 166
Massachusetts 2,045 1,968 −4 68 704 −474 142 −76 3,287 2,915 −6 285 198 328 356 −79
Michigan −108 −935 −93 80 925 −242 −141 16 3,118 2,544 −116 157 396 455 339 23
Minnesota 506 553 −401 −58 529 −114 53 50 1,424 1,370 −368 149 151 311 185 −4
Mississippi −543 −509 −142 −59 105 −56 −67 51 665 585 −140 64 7 208 84 24
Missouri 1,886 2,085 −153 −96 463 9 250 −174 1,893 1,904 −163 128 159 209 249 −94
Montana 370 355 −70 33 71 34 57 4 311 281 −59 25 6 100 43 1
Nebraska 552 876 −342 −33 146 44 117 −22 246 530 −346 36 23 85 72 −10
Nevada 1,073 643 −7 100 278 139 91 11 1,120 872 −10 92 94 184 110 −3
New Hampshire −113 −509 −6 65 93 74 −64 106 545 425 −5 73 38 14 56 56
New Jersey 4,915 4,265 −6 38 720 355 471 13 3,402 1,957 −7 392 202 628 277 506
New Mexico −320 −421 12 16 110 −103 −45 20 182 204 −29 20 36 −27 30 8
New York 6,782 4,843 −34 164 1,457 1,308 662 −294 8,640 7,045 −76 628 330 2,233 888 −632
North Carolina 3,439 2,986 −44 −60 495 484 369 −54 3,072 2,768 −189 183 78 631 376 −23
North Dakota 713 977 −131 −7 105 −25 141 −65 192 243 −63 2 41 16 36 −12
Ohio 863 1,772 −314 592 754 −1,671 216 −54 4,125 3,303 −233 334 213 960 423 −28
Oklahoma 1,460 1,206 −15 94 245 105 174 0 1,102 981 −104 176 40 136 135 8
Oregon 2,558 2,803 −8 81 309 −123 398 −108 1,364 1,154 −30 139 102 198 166 −33
Pennsylvania 4,571 3,085 −29 611 724 628 425 −22 5,366 3,909 −83 378 153 1,504 529 34
Rhode Island 360 395 −1 1 31 2 52 −16 337 300 −1 38 −19 46 44 16
South Carolina 830 410 −27 62 278 104 47 50 1,286 1,150 −45 64 99 136 158 39
South Dakota 169 154 −55 3 72 11 20 3 29 181 −177 17 10 23 25 0
Tennessee 1,869 1,393 −71 −2 264 495 161 −49 1,704 1,592 −65 367 109 −70 213 −17
Texas 7,145 9,230 −476 550 1,655 −2,617 1,144 −53 12,217 9,982 −131 636 421 2,561 1,216 −36
Utah 551 287 −17 52 191 58 25 4 1,017 868 −9 73 38 163 115 −1
Vermont −65 −144 0 4 56 2 −17 −1 176 173 −11 20 20 −3 26 4
Virginia 1,853 1,463 −34 48 525 232 184 −197 3,149 2,664 −56 218 142 371 344 153
Washington 4,559 4,194 −145 29 745 225 593 104 4,218 3,361 −128 209 260 936 443 23
West Virginia −324 −462 −1 41 63 −105 −64 76 400 314 −13 27 16 80 44 21
Wisconsin 293 −346 −42 52 497 107 11 37 1,596 1,556 −154 113 149 113 211 31
Wyoming 281 276 −13 2 69 −8 42 −3 126 133 −24 14 14 11 21 −1
IVA
Inventory valuation adjustment
CCAdj
Capital consumption adjustment
  1. Compensation is by place of work.

 

  1. Quarterly estimates and percent changes are expressed at seasonally adjusted annual rates, which reflect the rate of activity for the quarter as if it were maintained for a year. The state GDP estimates for the third quarter of 2017 are aligned with the estimates in the January 19, 2018, release of GDP by industry.
  2. Real GDP growth in the District of Columbia was less than the national average in the third quarter, but growth accelerated, compared with growth over the last four quarters.
  3. The state personal income estimates for the third quarter of 2017 are aligned with the national estimates that were released in November 2017. State personal income, which is measured in current dollars, is the sum of compensation, proprietors' income, property income, and personal current transfer receipts, less contributions for government social insurance, plus an adjustment for residence. Quarterly estimates in dollars are expressed at seasonally adjusted annual rates; quarter-to-quarter percent changes are annualized.
  4. Price inflation, as measured by the national price index for personal consumption expenditures, was 1.5 percent in the third quarter, up from 0.3 percent in the second quarter.
  5. Compensation accounted for 53 percent to 69 percent of state personal income in the third quarter of 2017.
  6. The information industry accounted for 39.0 percent of the increase in compensation in Washington in the third quarter of 2017. The estimate for the information industry reflected the vesting of employee stock grants.