Arkansas GDP – 2019:Q1

By , July 25, 2019 1:19 PM

New data from the Bureau of Economic Analysis shows Arkansas GDP growth of 2.5% for the first quarter (seasonally adjusted annual rate).  This was the highest quarterly growth rate for Arkansas since 2016:Q4.  While this represents solid growth, it fell short of the national growth rate of 3.1% in the first quarter.  Today’s report on GDP by state showed growth rates ranging from a low of 1.2% in Hawaii to a high of 5.2% in West Virginia.  Arkansas’ growth rate ranked it number 38 among the 50 states.

Source: Bureau of Economic Analysis

Source: Bureau of Economic Analysis

Over the most recent four quarters, Arkansas GDP growth has grown 1.6%, compared to 3.2% nationwide.

Source: Bureau of Economic Analysis

Source: Bureau of Economic Analysis

As detailed in the table below, Arkansas’ growth rate was adversely affected by a sharp decline in Agriculture, which subtracted 0.65% from the state’s overall economic growth.  Positive contributors to the Arkansas growth rate included Manufacturing (of both durable goods and nondurable goods), Retail Trade and Health Care.

Source: Bureau of Economic Analysis

Source: Bureau of Economic Analysis

Today’s data release contained no revisions of past data.  The next GDP update is scheduled for November 7, 2019, at which time revised data for 2014:Q1 through 2019:Q1 will be released.

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