The Bureau of Economic Analysis published its statistical update to State GDPs today. The BEA 2010 state GDP map is below followed by the 2009 one. The BEA reports that increases in Real GDP occurred in 48 states.
A first look at the GDP maps below may leave some scratching their heads. The reason why is states including Alabama, Mississippi, Georgia, Florida, and South Carolina i.e. most of the Southeast might appear to have experienced declines in per capita real GDP from 2009-2010 according to maps 1 and 2. Yet the BEA reports a positive change in real GDP for all these states in the following news release and in map 3 below.
Map 1: 2010 GDP by State: Bureau of Economic AnalysisA first look at the GDP maps below may leave some scratching their heads. The reason why is states including Alabama, Mississippi, Georgia, Florida, and South Carolina i.e. most of the Southeast might appear to have experienced declines in per capita real GDP from 2009-2010 according to maps 1 and 2. Yet the BEA reports a positive change in real GDP for all these states in the following news release and in map 3 below.
Map 2: 2009 GDP by State: Bureau of Economic Analysis
The difference between the two maps is Map 1 is chained in 2000 per capita dollars whereas Map 2 is not. This means in terms of per capita buying power of the dollar, Florida's state GDP is actually in the second lowest tier.
Evidently in 2010 using chained dollars there are more states with GDPs in the lowest tier and less of the highest tier with the Southeast looking like it has less buying power.
Map 3: 2009-2010 GDP change by State: Bureau of Economic Analysis
So what kind of conclusion should one draw from this? "GDP" grew, but not necessarily in terms of actual 'value'. It would appear at brief glance, that financial semantics have an ability to adjust meaning in a similar way to figurative speech.
:.
0 comments:
Post a Comment