Economy
January 27, 2020
BEA: Regional GDP Growth Through Q3 2019
Written by Peter Wright
U.S. gross domestic product had positive growth in every region of the country in each of the first three quarters of 2019, according to Bureau of Economic Analysis data.
The BEA reports GDP by state and region on a quarterly basis. This data is released several weeks after the national report. The latest data was updated through Q3 2019. 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 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 quarter on quarter. (These growth numbers are not annualized, as opposed to the headline number for the growth of national GDP. Annualized means multiplied by four.) Every region had positive growth in each of the first three quarters of 2019 with the South West having the highest growth year to date at 3.1 percent followed by the Rocky Mountains at 2.7 percent.
