The U.S. Bureau of Economic Analysis released a report this morning on state-level GDP for the fourth quarter of 2019. Arkansas real GDP increased at a 2.4% annual rate, surpassing the national average of 2.1%. Arkansas’ growth rate was the 13th highest in the nation.
From four quarters earlier, Arkansas GDP increased 2.2%, nearly keeping pace with the national average of 2.3%.
2019 Annual Data
Comparing 2019 to 2018, Arkansas GDP was up 1.8%, accelerating slightly from the 1.7% pace of the previous year. Growth in 2019 was the fastest since the 2.8% pace recorded in 2013.
Contributions to GDP growth in 2019 came mostly from service sectors, particularly those associated with information, finance, and professional & business services. Health care services were also a contributor to growth. Agriculture and nondurable goods manufacturing subtracted from annual growth.