Real GDP Growth, 2012-13

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National GDP

  • Real gross domestic product grew 1.8 percent in 2013, slower than the 2.5 percent growth in 2012.
  • Three industries (nondurable-goods manufacturing, real estate and rental and leasing, and agriculture, forestry, fishing and hunting) contributed about 42 percent to the real GDP growth rate, representing 0.75 percentage points out of 1.8 percent total growth.
  • A few areas, including educational services, other services and government, actually had a negative effect on GDP growth. For example, educational services pulled the real GDP growth rate down by .01 percentage points.
  • The top three contributors to real growth were:
    • Nondurable-goods manufacturing, which contributed 0.33 percentage points out of 1.8 percent total growth;
    • Real estate and rental and leasing, which contributed 0.21 percent points out of 1.8 percentage points total growth; and
    • Agriculture, forestry, fishing and hunting, which contributed 0.21 percentage points out of 1.8 percent total growth.
  • Per capita current-dollar GDP was $52,831 for the U.S. in 2013.

State GDP

  • Real GDP grew in 49 states from 2012 to 2013.
  • Alaska was the only state in which GDP declined, primarily due to a decline in mining.
  • Mining played a key role in the fastest-growing states—North Dakota, Wyoming, West Virginia, Oklahoma and Colorado. For example, North Dakota’s GDP grew the most of any state over this period (9.7 percent) and mining contributed 3.61 percentage points to that growth.
  • Twelve states saw real GDP growth of less than 1 percent.
  • Nondurable-goods manufacturing was the largest contributor to real growth in the most states—10.
  • Current dollar per capita GDP in 2013 ranged from a high of $80,741 in Alaska, $77,974 in Wyoming and $77,868 in North Dakota to a low of $32,421 in Mississippi, $38,443 in South Carolina and $38,612 in Idaho.

 

Source: U.S. Department of Commerce, Bureau of Economic Analysis.

 

Real GDP Growth, 2012-13