In the fourth quarter of 2024, real gross domestic product (GDP) increased in 48 states and the District of Columbia. The percentage change varied, ranging from 5.1 percent in Arkansas to 0.6 percent in Vermont. Idaho and South Dakota showed no change, according to data from the U.S. Bureau of Economic Analysis (BEA). Current-dollar GDP grew across all 50 states and the District of Columbia.
For the whole of 2024, the real GDP increased in 48 states and the District of Columbia. The national real GDP for that period rose at an annual rate of 2.8 percent. The BEA states, "Real estate and rental and leasing; professional, scientific, and technical services; and health care and social assistance were the leading contributors to growth in real GDP nationally." In Utah, with a 4.5 percent increase, retail trade was a significant contributor.
Personal income in current dollars also saw growth in all states and the District in the fourth quarter, with Delaware experiencing the highest increase at 6.1 percent. Nationwide, earnings, transfer receipts, and property income contributed to this increase, with earnings growing 5.1 percent. Farm earnings, in particular, considerably boosted personal income in Delaware and other southern states.
Over the course of 2024, personal income increased at a national annual rate of 5.4 percent. BEA data indicates, "Earnings increased in 49 states and the District of Columbia, while growing 5.5 percent nationally." Health care and social assistance were notably strong sectors contributing to this growth.
Further details can be found in the revised quarterly estimates of personal income by state for the first three quarters of 2024. This update aligns with the national estimates released on March 27, 2025, providing more detailed and complete information.