In the first quarter of 2022, the Kansas economy contracted at the annual rate of 2.6 percent. Gross Domestic Product fell in 46 states, with Kansas ranking thirty-ninth.
In the first quarter of 2022, the Kansas economy contracted at the annual rate of 2.6 percent in real (inflation-adjusted) dollars, according to statistics released recently 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 first quarter was at the annual rate of $202,279 million in current dollars. (The first quarter consists of January, February, and March.) The Kansas growth rate of -2.6 percent ranked thirty-ninth among the states and District of Columbia. The national rate was -1.6 percent, while the rate for the Plains states was -2.2 percent. (For this data, BEA defines Plains states as Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.)
Chart 6b shows Kansas along with the nation and Plains states, plotting the change from the previous quarter, expressed as an annualized rate. Click charts and tables for larger versions.
In chart 7, the table of industries, we see that Kansas industries that grew significantly are:
- Agriculture, forestry, fishing, and hunting
- Educational services
Industries that contracted significantly include:
- Accommodation and food services
- Finance and insurance
- Nondurable goods manufacturing
- Retail trade
- Wholesale trade
Chart 1a shows GDP change for selected industries and nearby states. This chart begins with the first quarter of 2020, which contains the pandemic’s start. For change in GDP for all industries, only Oklahoma fares worse than Kansas.
In the interactive visualization, you may make many adjustments to the charts.
The economy is still affected by the response to the pandemic, as BEA noted in the release accompanying the data:
In the first quarter, an increase in COVID–19 cases related to the Omicron variant resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off. The full economic effects of the COVID–19 pandemic cannot be quantified in the GDP by state estimates for the first quarter, because the impacts are generally embedded in source data and cannot be separately identified.
For the complete release at BEA, click on Gross Domestic Product by State, 1st Quarter 2022.
I have developed an interactive visualization of this data. To access, click on Visualization: Quarterly Real Gross Domestic Product by State and Industry.