38 States Hit All-Time GSP Highs 2008Q2
Economic research firm e-forecasting.com on September 22, 2008, announced
the release of their second quarter estimates of quarterly
gross state product, with Texas leading the nation in GSP
growth.
Following an increase of US GDP by 3.3 percent to $11,740
billion in the second quarter of 2008, 23 states matched or
surpassed this growth, with Texas GSP swelling 7.6 for the
quarter. The change is recorded as an annual percent
change from the previous quarter in GSP at 2000 chained
dollars.
Analyzing the full report, CEO Maria Simos reveals a surprising
revelation, "38 states hit all-time GSP highs in the
second quarter of 2008: Alabama, Arkansas, California,
Colorado, Connecticut, DC, Georgia, Hawaii, Illinois, Iowa,
Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts,
Mississippi, Missouri, Montana, Nebraska, New
Hampshire, New Jersey, New Mexico, New York, North Dakota,
Oklahoma, Oregon, Pennsylvania, South Carolina,
South Dakota, Tennessee, Texas, Utah, Vermont, Virginia,
West Virginia, Wisconsin and Wyoming. There was growth
in all but one state: Washington. This strong GSP growth is
led by the cash rebates tax payers received from the Federal
Government."
Using available monthly and quarterly state statistics, inputoutput
relations, and extensive econometric techniques, our
research department has augmented the official annual
gross state product data and generated the quarterly series.
The quarterly history and timely updates of GSP are useful
in providing: more frequent information (quarterly vs. annual)
and more timely information (last quarter vs. two years ago).
Availability of quarterly GSP data, the best indicator of state
economic activity, provide evidence of each state's cyclical
sensitivity, offer useful comparisons to national business
cycle measured by GDP and improve forecasts by using
timely available information.
e-forecasting.com, an international economic research and
consulting firm, offers forecasts of the economic environment
using proprietary real-time economic indicators and
produces company and industry-specific leading indicators
for its clients. In cooperation with its affiliate, Infometrica,
Inc., e-forecasting.com works with business publications and
clients across the globe to provide industry, country and
state-level economic content on a monthly and quarterly
basis thus their predictive intelligence input is used by practitioners
around the world.
Notice: This publication is based on information e-forecasting.com believes is reliable. However, e-forecasting.com cannot guarantee its
accuracy and is not liable for any damages rising out of its use. All proprietary materials and analysis are copyrighted. © 2008
For more information, please contact:
Maria Simos by phone (603) 868-7436 or email: mesimos@
e-forecasting.com