Useful Stats: Real Gross State Product, 2000-2004

Recently released U.S. Bureau of Economic Analysis (BEA) data show Nevada outpaced all other states in the percent growth of its real gross state product (GSP) over the period 2000-2004. The western state's real GSP grew from nearly $74.8 billion in 2000 to more than $90 billion in 2004, a 20.8 percent change, based on 2004 estimates.

BEA, which indicates it will provide further detail in its next Survey of Current Business issue, derives 2004 estimates from a "prototype methodology" used to speed up the release of reference year data from past release schedules. The 2004 estimates arrived six months after the reference year, or 12 months ahead of prior schedules. Estimates for 2003 and earlier are based on BEA's regular GSP methodology.

Along with Nevada, only two other states experienced greater than 18 percent growth in real GSP from 2000 to 2004 -- Arizona and Wyoming. Real gross domestic product for the U.S. grew by less than 10 percent over the four-year period, as did real GSP for 19 states. Louisiana was the only state to experience a decline over the period (1.09 percent); however, it had experienced increases the two previous years.

Using BEA data, SSTI has prepared a table that depicts the above information for all 50 states and the District of Columbia, ranking states by their percent change. The table is available at: http://www.ssti.org/Digest/Tables/071105t.htm

More information concerning BEA's methodology and tables characterizing GSP data in current dollars and by industrial contribution to percent change is available through the agency's press release, http://www.bea.gov/bea/newsrel/gspnewsrelease.htm. Regional totals are provided with the state and national totals.