Gross Domestic Product by State and Personal Income by State, 1st Quarter 2024
Personal Income and Outlays, May 2024
Personal income increased $114.1 billion (0.5 percent at a monthly rate) in May. Disposable personal income (DPI)—personal income less personal current taxes—increased $94.0 billion (0.5 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $56.4 billion (0.3 percent) and consumer spending increased $47.8 billion (0.2 percent). Personal saving was $806.1 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.9 percent in May.
Gross Domestic Product by State and Personal Income by State, 1st Quarter 2024
Real gross domestic product increased in 39 states and the District of Columbia in the first quarter of 2024, with the percent change ranging from 5.0 percent at an annual rate in Idaho to –4.2 percent in South Dakota.
Personal income, in current dollars, increased in all 50 states and the District of Columbia, with the percent change ranging from 9.5 percent at an annual rate in South Carolina to 0.6 percent in North Dakota.
