(March 28, 2025) Arkansas led the nation (#1) in real Gross Domestic Product (GDP) growth for 4Q-2024, according to a news release today from the U.S. Bureau of Economic Analysis (BEA).(1)
Arkansas also led the U.S. in real GDP growth in 3Q-2024(2), an unprecedented development for the state’s economy.
The BEA release states, “Real gross domestic product (GDP) increased in 48 states and the District of Columbia in the fourth quarter of 2024, with the percent change ranging from 5.1 percent at an annual rate in Arkansas to 0.6 percent in Vermont and remaining unchanged in Idaho and South Dakota …”
“Agriculture, forestry, fishing, and hunting” was the leading contributor to Arkansas growth, according to the BEA. Real GDP estimates the value of the goods and services produced in a state and is adjusted for inflation.
Growth in Durable Goods
A Policy Foundation analysis of contributions by sector shows Durable Goods Manufacturing making an important contribution to growth. Arkansas led the nation in Durable Goods real GDP growth in the quarter (4Q-2024). Durables are “tangible products that can be stored or inventoried and that have an average life of at least three years.” They include motor vehicles and steel.
— Greg Kaza
References
(1) BEA: https://www.bea.gov/news/2025/gross-domestic-product-state-and-personal- income-state-4th quarter-2024-and-preliminary
(2) BEA, “Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2024.” December 20, 2024
