GDP in the States, First Quarter 2024


In the first quarter of 2024, the Kansas economy contracted at the annual rate of 3.9 percent. Real Gross Domestic Product increased in 39 states and the District of Columbia, ranging from 5.0 percent at an annual rate in Idaho to –4.2 percent in South Dakota. Kansas ranked forty-eighth.

In the first quarter of 2024, the Kansas economy contracted at the annual rate of 3.9 percent in real (inflation-adjusted) dollars, according to statistics released by Bureau of Economic Analysis, a division of the United States Department of Commerce. BEA says, “Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. GDP by state is the state counterpart of the nation’s GDP, the Bureau’s featured and most comprehensive measure of U.S. economic activity.”

GDP in Kansas for the fourth quarter was at the annual rate of $229,853 million in current dollars or $183,614 million in 2017 dollars. (The fourth quarter consists of January, February, and March.) The Kansas growth rate of negative 3.9 percent ranked forty-eighth among the states and District of Columbia. The national rate of growth was 1.4 percent, while the rate for the Plains states was -1.5 percent. (For this data, BEA defines Plains states as Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.)

For the complete year 2023, Kansas real GDP grew by 4.3 percent, ranking tenth among the states and District of Columbia.

Chart 6b, taken from my interactive visualization of this data, shows Kansas along with the nation and Plains states, plotting the change from the previous quarter, expressed as an annualized rate. (Click charts for larger.)

In chart 7a, the table of industries, we see Kansas industries that grew and contracted.

Chart 1a shows GDP growth since January 2018 for Kansas and several nearby states. In the Private Industries category, Kansas performs better than some states, nearly the same as Plains states, but not as well as the nation and some nearby states.

Chart 5b shows the composition of GDP by industry.

I have developed an interactive visualization of this data. To use it, click on Visualization: Quarterly Real Gross Domestic Product by State and Industry. In the interactive visualization, you may make many adjustments to the charts.

For the complete release at BEA, click on Gross Domestic Product by State and Personal Income by State, 1st Quarter 2024.


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