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38 States Hit All-Time GSP Highs 2008Q2

first_img38 States Hit All-Time GSP Highs 2008Q2Economic research firm e-forecasting.com on September 22, 2008, announcedthe release of their second quarter estimates of quarterlygross state product, with Texas leading the nation in GSPgrowth.Following an increase of US GDP by 3.3 percent to $11,740billion in the second quarter of 2008, 23 states matched orsurpassed this growth, with Texas GSP swelling 7.6 for thequarter. The change is recorded as an annual percentchange from the previous quarter in GSP at 2000 chaineddollars.Analyzing the full report, CEO Maria Simos reveals a surprisingrevelation, “38 states hit all-time GSP highs in thesecond quarter of 2008: Alabama, Arkansas, California,Colorado, Connecticut, DC, Georgia, Hawaii, Illinois, Iowa,Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts,Mississippi, Missouri, Montana, Nebraska, NewHampshire, 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 growthin all but one state: Washington. This strong GSP growth isled by the cash rebates tax payers received from the FederalGovernment.”Using available monthly and quarterly state statistics, inputoutputrelations, and extensive econometric techniques, ourresearch department has augmented the official annualgross state product data and generated the quarterly series.The quarterly history and timely updates of GSP are usefulin 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 stateeconomic activity, provide evidence of each state’s cyclicalsensitivity, offer useful comparisons to national businesscycle measured by GDP and improve forecasts by usingtimely available information.e-forecasting.com, an international economic research andconsulting firm, offers forecasts of the economic environmentusing proprietary real-time economic indicators andproduces company and industry-specific leading indicatorsfor its clients. In cooperation with its affiliate, Infometrica,Inc., e-forecasting.com works with business publications andclients across the globe to provide industry, country andstate-level economic content on a monthly and quarterlybasis thus their predictive intelligence input is used by practitionersaround the world.Notice: This publication is based on information e-forecasting.com believes is reliable. However, e-forecasting.com cannot guarantee itsaccuracy and is not liable for any damages rising out of its use. All proprietary materials and analysis are copyrighted. © 2008For more information, please contact:Maria Simos by phone (603) 868-7436 or email: [email protected]last_img

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