Economy
May 23, 2019
BEA: All Regions Saw GDP Growth in 2018
Written by Peter Wright
U.S. gross domestic product grew in every region of the country in all four quarters of 2018, according to Bureau of Economic Analysis data.
The BEA introduced a new data set for GDP by state and region in 2014 and backdated it to Q1 2005. This week, the data was updated through Q4 2018. Even though this might be considered historically “old,” we think it’s worth reporting because it’s the foundation for where we are now. The data is published quarterly and is reported in chained 2012 dollars seasonally adjusted. Steel Market Update analyzes the data and reports to subscribers quarterly by region. Table 1 shows the growth of regional GDP in chained 2012 dollars quarter on quarter. (These growth numbers are not annualized as opposed to the headline number for the growth of national GDP, which is annualized.) In the second quarter of 2018, every region had positive growth.
