In the third quarter of 2022, the Kansas economy grew at the annual rate of 1.9 percent. Gross Domestic Product rose in 47 states, with Kansas ranking thirty-second.
In the third quarter of 2022, the Kansas economy grew at the annual rate of 1.9 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 third quarter was at the annual rate of $212,742 million in current dollars. (The second quarter consists of July, August, and September.) The Kansas growth rate of 1.9 percent ranked thirty-second among the states and District of Columbia. The national rate of growth was 3.2 percent, while the rate for the Plains states was 1.7 percent. (For this data, BEA defines Plains states as Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.)
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 and tables for larger versions.
In chart 7a, the table of industries, we see that Kansas industries that grew significantly are:
- Agriculture, forestry, fishing, and hunting
- Arts, entertainment, and recreation
- Educational services
- Mining, quarrying, and oil and gas extraction
- Retail trade
Industries that contracted significantly include:
- Finance and insurance
Chart 1a shows GDP change for selected industries and nearby states. This chart begins with the first quarter of 2021. For change in GDP for all industries, Kansas does better than most neighboring states, but not as well as the nation.
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, 3rd 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.